2027 Global Fixed Income Summer Internship

Lazard•New York, NY

1d•$90,000•Onsite

About The Position

Lazard is a global financial advisory and asset management firm with a collaborative community of over 3,000 professionals. It fosters continuous knowledge sharing, skill development, and relationship building, with an entrepreneurial culture that encourages creative ideas and unique perspectives. The Global Fixed Income team invests in global bond and credit markets, utilizing an informed macro view and opportunistic security selection, combining quantitative methods with qualitative fundamental analysis. This 10-week internship is designed for students between their junior and senior year interested in a career in Fixed Income. It includes role-specific training, mentorship, networking, volunteer opportunities, and engagement with employee resource groups like LEAD. The internship culminates in a final capstone project where interns present an innovative sales pitch or a white paper to senior leadership.

Requirements

Rising undergraduate seniors only (graduating in 2028)
Ability to start an internship June 7, 2027, and end August 13, 2027
Ability to be in NYC for the duration of the internship
Authorization to work in the United States without visa sponsorship
Consistent academic achievement and previous work experience
Strong analytical, problem‑solving, and critical‑thinking skills, with excellent attention to detail
Exceptional communication skills, and the ability to distill complex concepts clearly and efficiently
Passion for fixed income investing and a strong desire to learn and grow within the industry
Experience with quantitative and fundamental research methods
High proficiency in Microsoft Excel and PowerPoint
Curiosity and initiative to develop original ideas
Familiarity or experience with generative AI tools (e.g. ChatGPT, Copilot, Claude, or similar)

Responsibilities

Collaborate with PMs/Portfolio Analysts to conduct macroeconomic and currency research, including central bank policy, rate differentials, inflation and growth data, and capital flows.
Develop and present internal FX trade ideas and hedging recommendations to the group, with supporting rationale, risk/reward framing, and sizing considerations.
Track and review the performance of ideas over the internship.
Monitor and reconcile currency exposures across portfolios.
Support hedging analysis on hedge ratios and P&L attribution.
Work with the fixed income and equity trading desks on FX needs arising from security trades.
Support the global fixed income portfolio management team with currency analysis and cash positioning.
Review the group's current workflows, tools, and reporting processes, and identify opportunities to improve efficiency, controls, and data quality.
Support the onboarding of new FX broker and liquidity provider relationships, with the aim of maintaining a diversified set of liquidity providers.
Coordinate with the internal account services group and broker credit onboarding teams on account setup, documentation, and credit approvals.
Help track onboarding status and maintain counterparty coverage.
Support daily liquidity monitoring, including cash flows, subscription and redemption activity, and portfolio maturity profile.