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Can someone help explain this?

Wider swap spreads means its more expensive to pay fixed on a swap and and more beneficial to receive fixed on a swap.

So if I am borrowing fixed rate and need to swap it to floating, I would prefer to receive fixed on swap and pay floating.

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    $\begingroup$ That is basically correct. Doesn't your bank have a training program, or any senior people willing to train you? $\endgroup$
    – dm63
    Mar 30 '18 at 12:32
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    $\begingroup$ Sounds harsh. Well at least they let you log into this website. Regarding your question, supposing a company can issue 5yr debt at T+50bp. If swap spreads are T+10 then they can swap to L+40bp. If swap spreads widen 1bp to 11 then they can improve to L+39bp. $\endgroup$
    – dm63
    Mar 30 '18 at 13:40
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    $\begingroup$ TBH I too had been wondering about your training program. Your comment provides useful context; I'm pretty shocked and outraged. My unsolicited suggestion is to find others who can help – I personally learned a lot from people outside my team. One good approach is to offer to help others on mini-projects; as you help out, they'd give you insights into how they look at things. I also had a good experience just asking someone whether he'd be willing to talk about the world w/ me periodically and he happily agreed. I'm sure you can find similar people at your company; not everyone is an a-hole. $\endgroup$
    – Helin
    Mar 31 '18 at 3:30
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    $\begingroup$ Thanks, I'm coming up on a year around July and I have to have a serious conversation about my progression. No training, no structure. My primary responsibility have been updating spreadsheets, sending out trade runs, and daily recap of the market. Oh and getting breakfast/lunch for the senior guys. When they leave at 4-5, I finish up spend a few hours reading and learning.... $\endgroup$ Mar 31 '18 at 14:40
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    $\begingroup$ Helin is right, your managers are very short sighted. Training you is in their best interest in the medium terms since you become more productive and valuable sooner. With the attitude they exhibit I would suggest you find somewhere else to work, being so concerned about their own bonuses doesn't bode well for yours. I can safely say we went out of our way to help graduates learn at the IBs I worked at. $\endgroup$
    – Attack68
    Mar 31 '18 at 19:16

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