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Role Summary
T. Rowe Price is seeking a Municipal Bond Trader with 3+ years of experience to join the Municipal Bond Investments team within the Fixed Income platform. The trader will execute municipal bond transactions and work with portfolio managers and research analysts to implement investment views, manage risk, and support performance across municipal strategies. The role requires an investment-oriented trader who can add value immediately through market insight, disciplined execution, and strong dealer connectivity. The position sits within a research-driven platform where trading is a core part of the investment process.
The successful candidate will be an innovative municipal bond professional with deep knowledge of market structure, liquidity, and relative value, along with strong market intuition and disciplined execution. This individual will value strong dealer relationships while embracing data, technology, and the continued evolution of the municipal market. With a clear passion for the asset class and a strong commitment to client outcomes, the trader will be prepared to contribute from day one and help advance a high-performing Municipal Bond Investments team within the broader fixed income platform.
Responsibilities
Execute primary and secondary municipal bond trades with a focus on best execution, liquidity, and transaction cost.
Work with portfolio managers and analysts to express views across the curve, sectors, structures, and credits in municipal portfolios.
Provide timely market color, including dealer axes, flows, bid-wanted activity, new issue calendars, and relative value across sectors and issuers.
Identify and communicate relative value opportunities, dislocations, and liquidity conditions that inform portfolio construction and alpha generation.
Build and maintain relationships with dealers, trading platforms, and other counterparties to enhance liquidity and idea flow.
Support modernization of the municipal trading function through use of electronic trading, data and analytics, and scalable workflows.
Share views on trading levels, technicals, liquidity, and market structure with the broader Fixed Income team.
Trade within established risk limits, portfolio guidelines, and regulatory requirements, maintaining strong control and discipline.
Qualifications
Required:
At least 3+ years of experience in municipal bond trading, municipal investing, or a related fixed income investment role.
Strong understanding of the municipal market, including sector and structure dynamics, liquidity, relative value, and credit.
Proven ability to execute in different market environments using both dealer relationships and trading platforms.
Established relationships in the dealer community and the credibility to act as an effective counterparty.
Investment mindset and ability to engage in portfolio discussions, translate research into trades, and support risk-aware…