The Group:
Research & Investments creates compelling insights and effective investment solutions to empower investor success. We honor time-tested investment principles and consistently apply robust methodologies to earn and protect trust. We thoughtfully deploy our key asset, our people, to scale and deliver more value to more investors. This diverse group comprises Morningstar’s Equity, Manager, and Multi-Asset Research teams in addition to our Behavioral Insights and Investment Management teams.
The Role:
The Multi-Asset Research Team requires an experienced researcher to contribute to the fixed income and currency research, reporting to the Head of Fixed Income and Currency Research. This position requires a deep understanding of macroeconomic trends, interest rate movements, sovereign debt markets and currency dynamics. The ideal candidate will work closely with other researchers, economists, portfolio managers to deliver world class fixed income and currency research that leads to better investment outcomes for clients.
This role is based in either our Chicago or London office.
Responsibilities:
- Generate fixed income and currency related capital market research deliverables, including strategic capital market assumptions and shorter-term, valuation-driven fixed income and currency research for sovereign debt asset classes and selective developed and emerging-market currencies.
- Monitor market trends, economic indicators and central bank policies that impact sovereign bond markets and currency movements.
- Assess macroeconomic trends, fiscal policies, debt structure, and external factors such as trade balances and capital flows to evaluate the fundamental risks and creditworthiness of sovereign issuers across major global sovereign entities.
- Enhance research robustness by producing additional analysis including but not limited to scenario analysis, back testing, economic regime analysis etc.
- Evaluate fair value assumptions for sovereign debt asset classes and selective currencies based on sovereign fundamentals and long-term trends.
- Facilitate the production of quantitative outputs from proprietary valuation models for fixed income asset classes and major currencies.
- Collaborate with economists and capital market assumption team to produce country specific economic research.
- Contribute to fixed income methodology improvements to sustain Morningstar's research excellence.
- Present research findings, conviction updates and market insights to internal portfolio management teams and clients.
- Contribute to external research publications and media engagements with a focus on the outlook for sovereign bond markets and major currencies.
Requirements:
- 5+ years of research experience in fixed income and currency research gained in a pure research capacity or as part of an investment management team.
- Deep understanding of global fixed income markets, including government bonds, corporate debt, high-yield, and emerging markets.
- Expertise in macroeconomic analysis, monetary policy, and currency market dynamics.
- Strong time management skills, with the ability to mentor and develop junior analysts.
- Proven ability to communicate complex market information in a clear, concise, and actionable manner.
- Strong quantitative skills and proficiency in relevant financial software and research tools.