Emerging Markets Fixed Income Trader (Hybrid)

T. Rowe Price; Baltimore (MD); Hybrid; USD 120,000 - 205,000; Full time

Benefits offered by this job

Competitive compensation

Annual bonus eligibility

A generous retirement plan

Hybrid work schedule

Health and wellness benefits, incl. 1?

Paid time off for vacation, illness,…

Family care resources, including ferti

Job summary

T. Rowe Price in the United States is seeking an Emerging Markets Fixed Income Trader to execute sovereign and corporate credit, local currency rates, and FX within emerging markets allocations across portfolios.

The role builds counterparty relationships and feeds market insight into portfolio construction while navigating diverse market rules and liquidity conditions. You will work as part of the investment team, enhance execution quality, and support PMs with trade structure, cash

Qualifications

• At least 3 years of experience in emerging markets fixed income trading, portfolio implementation, or a closely related investment role at an asset manager.
• Demonstrated ability to execute in less liquid and fast-moving markets and to make decisions under time and price pressure without escalating routine matters.
• Sound understanding of fixed income, trading mechanics, liquidity formation, market structure, and counterparty risk.
• Routine use of electronic execution platforms and execution analytics in day-to-day trading to improve efficiency in trading higher touch flows.
• Undergraduate degree, preferably in finance, economics, mathematics, engineering, or another analytical discipline.

Responsibilities

• Execute across the EM instrument set: hard currency sovereign/ quasi-sovereign, EM corporate credit IG/ HY, local currency gov bonds, FX spot/ forwards/ NDFs, IR swaps, cross-currency swaps, CDS single name/index.
• Choose execution approach per order (voice, RFQ, all-to-all, portfolio trades) based on size, liquidity, PM urgency and price constraints.
• Manage execution across time zones, access routes, documentation, holidays, settlement conventions by market.
• Exercise judgment on timing of orders, sourcing risk, and advising PM when trade not achievable at acceptable cost.
• Partner with PMs and analysts to translate views into implementable trade structures across rates, credit, and currency.
• Manage cash and currency positioning, including flows, hedges, and settlement mismatches.
• Allocate trades across accounts, maintain target exposures, resolve settlement/documentation issues.
• Provide market color on positioning, dealer inventory, new issue supply, index events, liquidity shifts by country/instrument.
• Identify relative value across curves, currencies, and capital structures; participate in country/sector/strategy discussions.
• Own dealer relationships; ensure pricing, AXE quality, and responsiveness.
• Monitor outcomes with TCA, completion rates, dealer response quality, and unworked/partially executed orders.
• Use execution/analytics platforms as core workflow; improve order movement efficiency from PM instruction to trade.
• Define/refine rules for low-touch/auto-execution in EM, considering size, liquidity, volatility.
• Represent EM requirements to trading tech/data teams; test tools; assess AI-assisted research/monitoring capabilities.

Skills

Experience in EM fixed income trading

Decision making under time pressure

Fixed income trading mechanics

Use of electronic execution platforms

Use of transaction cost analysis

Education

Undergraduate degree in finance, economics, mathematics, engineering or analytical discipline

Tools

Electronic trading platforms

Execution analytics

Job description

T. Rowe Price in the United States is seeking an Emerging Markets Fixed Income Trader to execute sovereign and corporate credit, local currency rates, and FX within emerging markets allocations across portfolios.

The role builds counterparty relationships and feeds market insight into portfolio construction while navigating diverse market rules and liquidity conditions. You will work as part of the investment team, enhance execution quality, and support PMs with trade structure, cash