Annual Meeting, Cocktail Party and Celebration! 

Birth of the Fixed Income Analyst

Focus on the economic events that lead to a distressed bond market, creation of FIASI and a new profession. Presented by one of the original FIASI founders and witness to the event, this presentation is the story of what happened.

The demise of the Penn Central RR in 1970 followed by the collapse of the Bretton Woods Agreement 1972 ushered in a decade of financial stress the likes of which the American economy had not witnessed in recent history.

The call went out on Wall Street for improved credit analysis; a more comprehensive understanding of corporate bond indenture covenants, duration and convexity analysis, etc. Out of this turmoil came a new profession and the Fixed Income Analyst Society was created, 1975.

Presentation: Alfred Mazzorana

Source: The Birth of the Fixed Income Analysts

From: Financial History, the magazine of the Museum of American Finance (Winter 2024)