Desk Analyst, High Yield Municipal Bond Trading

Stifel•Los Angeles, CA

3d•$85,000 - $95,000•Onsite

About The Position

Stifel is seeking a highly motivated High Yield Desk Analyst to join our Municipal Bond Trading Desk in Los Angeles. This is a high-impact role within a market-leading franchise. Stifel’s Municipal Securities Group includes sales, trading and underwriting of municipal and corporate tax-exempt bonds. The origination platform, Public Finance Investment Banking, works closely with borrowers including state and local governments, while the trading desk interfaces with buy side customers. The High Yield desk trades securities in the low investment grade and non-rated categories across many sectors, including real estate development, charter schools, utilities, P3, project finance, corporate tax-exempts and distressed situations. The successful candidate will work directly with the head of High Yield Municipal Trading and will interact with team members across the fixed income platform, including Municipal Capital Markets and Public Finance. This position supports the secondary market trading business group and serves as a critical bridge between secondary market liquidity and our industry-leading Public Finance Origination department, ensuring seamless execution and comprehensive coverage for high yield municipal credits. A candidate in this role would be expected to grow into an increasingly senior role in fixed income trading, sales or credit analysis.

Requirements

Advanced Excel skills (financial modeling, VLOOKUPs, Pivot Tables)
Familiarity with Bloomberg terminals
Exceptional verbal communication skills are required for high-pressure phone interactions and cross-departmental collaboration.
Ability to multi-task in a fast-paced environment
High attention to detail
A deep interest in the municipal "high yield" and "distressed" sectors.
Bachelor’s degree in Finance, Economics, or a related quantitative field.
0–2 years of experience in fixed income, preferably with exposure to municipal bonds, high yield credit, or trading desk operations.
Possession of FINRA Series 7, 63, and 52 (Municipal Securities Representative) licenses is expected to occur within the first year.
Proficient in Microsoft Excel, Word, PowerPoint, Outlook

Responsibilities

Provide end-to-end support for the High Yield Municipal Trading desk, including trade entry, hedge monitoring, and reconciliation of daily activity.
Maintain real-time internal posts regarding desk positions, bids-wanted, and specific credit developments to keep the broader Fixed Income Capital Markets team informed.
Organize and run bid/offer lists, tracking competitive outcomes and providing the desk with actionable data on market clearing levels.
Act as a primary point of contact for broker-dealers and internal sales desks, handling high-volume inquiries with speed and professional rigor.
Collaborate closely with the Public Finance Origination department to provide market feedback on new-issue pricing and structures, helping to market and execute new municipal bond issues.
Update and maintain financial models to analyze credit projections for a variety of debt structures.
Collect and synthesize data relating to high yield fund flows, high yield supply, default rates, rating changes, and credit spreads to inform a macro view on high yield market technicals and fundamentals.