Fixed Income

We are a top-ranked global credit trading franchise providing unique insights and outstanding global execution capabilities, driven by a culture of discipline and strong client service. We work collaboratively across markets and Jefferies’ platforms to provide best-in-class trade execution and 24-hour-a-day liquidity in world markets.

Leveraged Credit

We provide deep talent and integrated sales, trading, capital markets and strategy. Our leading Debt Capital Markets team offers distribution and issuance expertise to corporate clients and institutional investors in conjunction with Jefferies Investment Banking. Our primary and secondary market capabilities include:

  • Par loans
  • High-yield finance
  • Issuance of loans and high-yield bonds
  • Structured finance transactions
  • Mezzanine
  • High-yield preferred stock
  • Bank and bridge loans
  • Trading of high yield bonds, par loans, distressed and special situations
  • Trade claims
  • Litigation claims
  • Equity of companies exiting bankruptcy

Investment Grade Corporates

Our Investment Grade desk is a market maker across a variety of investment grade corporate bonds, including senior and subordinated debt, hybrid debt and preferred products. We provide corporate clients with strong execution in a broad range of financial products by offering capabilities across the capital spectrum, including public and private placements, debt, preferred stock, structured notes, derivatives, and other liability management solutions.

Macro Credit

Our US Index desk is a market maker in Investment Grade Index (CDX IG) and High Yield Index (CDX HY). Our Credit E-Trading desk provides algorithmic, ETF and portfolio trading across single security and portfolio liquidity to Jefferies Investment Grade and High Yield clients.

  • The team uses its significant market share in bond ETFs to drive liquidity across numerous electronic platforms and venues.
  • Our proprietary algorithms allow us to stream prices to clients, respond to electronic inquiries, and price large portfolios of risk of varying size.

Global structured solutions

We provide advanced structured solutions designed to meet our clients’ needs across all asset classes. We customize our offerings across both developed and emerging markets, based on fundamental analysis to identify opportunities and rigorous modeling against performance goals, underlying benchmarks and risk management profiles. Our capabilities include:

  • Structured solutions (equity, interest rate, foreign exchange and commodities)
  • Corporate hedging & FX solutions

Emerging markets

Our top-ranked strategists are fully integrated into our sales and trading platform and offer unparalleled access to trading flows and liquidity. They perform in-depth analysis of sovereign and corporate issuers across all emerging markets and actively participate in hard currency sovereign and corporate fixed income markets in Latin America, Eastern Europe, Middle East, Africa and Asia.

Municipal and Not-for-Profits

We serve issuers and investors in municipal securities markets with strong capabilities across Securities Sales and Trading, Public Finance and Municipal Strategy. Our market side team is a leader in providing secondary market liquidity and execution. Our capabilities include:

  • Credit and quantitative analysis
  • Derivatives
  • Taxable and tax-exempt (standard, high-yield, and money market instruments)
  • Underwriting

See also Investment Banking sector expertise.

Securitized markets

We are a market leader in global mortgage- and asset-backed trading with professionals located in the U.S., Europe and Asia. Our capital markets strategy specialists structure and place whole loan transactions, manage market participant loan and bond lending facilities, and provide broad coverage of mortgage and specialty finance originators. Our capabilities include:

  • Asset-backed securities
  • CLO
  • Commercial mortgage-backed securities
  • European prime and non-conforming residential mortgage-backed securities
  • Marketplace lending
  • U.S. agency and non-agency residential mortgage-backed securities

Government & Agency  

We provide execution, distribution, structuring and expertise in government and agency bond markets globally, with 24-hour liquidity from our trading hubs in New York, London and Tokyo. We are a major trader of all products from government bonds and supranational debt to derivatives and structured products. Our focus includes:

  • Agencies
  • Corporate hedging and FX Solutions
  • Financial futures and options
  • Inflation
  • Money markets
  • Repo financing
  • Short-term interest rates
  • Sovereigns
  • Swaps
  • Volatility

In the U.S., we are a designated Primary Dealer by the Federal Reserve Bank of New York. We actively participate in all Treasury auctions, Treasury purchases, and Federal Reserve Open Market Operations. We provide important secondary market liquidity in the Treasury market and underwrite significant debt issued by U.S. government agencies. In Europe, we are a designated Primary Dealer or equivalent in Germany, the Netherlands, Portugal and Slovenia. We support liquidity across the whole spectrum of securities issued by supra-nationals, sovereigns and other European governments and their agencies.