Municipal Trader

Payden & Rygel is one of the largest independently owned global investment management firms. We offer a full array of investment strategies and products, including fixed income, equity, and balanced portfolios as well as open-end mutual funds and offshore funds, to a varied client base around the world. While we have grown and expanded considerably since our inception in 1983, we remain committed to our mission of providing customized investment management solutions that focus on each client's specific needs and objectives. 

Payden & Rygel has an opportunity for a Trader to join the Municipal Bond Team to support the firm’s growth in municipal assets under management. The Trader will actively contribute to the Team’s strategic positioning and investment decision-making process through trade execution, relative value analysis, market commentary, and portfolio positioning reviews.

Market/Portfolio:

• Stage, manage, and execute primary and secondary municipal market transactions across strategies.
• Manage, build, and strengthen relationships with the dealer community.
• Continually explore the integration of new ideas, systems, and/or trading platforms to enhance the trading process
• Discuss and present new issue calendar to identify trading opportunities
• Monitor broad market developments and evaluate relative trading levels across issuers, sectors, and structures.
• Recommend trade ideas to enhance portfolio positioning and relative performance impact
• Provide market color both internally and externally when needed.
• Collaborate with municipal strategists and analysts to develop market outlook and strategy themes.
• Evaluate existing portfolio positioning to ensure consistency and optimization of those themes
• Support ESG and social impact related efforts to incorporate targeted and measured exposures to portfolios.

Marketing/Client Service:

• Develop marketing materials, including portfolio exposure summaries, market updates, and other prompt developments impacting the municipal trading landscape.
• Coordinate and respond to ad hoc, client specific requests.
• Assist with presentations for existing and prospective clients.

Requirements

• At least 3 years of municipal trading experience.
• Deep understanding of fixed income products, with a strong emphasis on municipal credit and market dynamics Strong framework for conducting relative value and the ability to seamlessly translate views into actionable ideas at the portfolio level Strong written and oral presentation skills.
• Bachelor’s Degree required.
• CFA or willingness to pursue CFA is required

Please submit a resume to careers@payden.com with “Municipal Credit Analyst” in the Subject field. Payden & Rygel is an equal opportunity employer.