Economic Clouds Emerge as US Yield Curve Persistently Flat

Kevin Colvin is an established New York financial executive who holds responsibilities as global market sales and trading director with Cantor Fitzgerald. In this role, Kevin Colvin maintains an interest in current macroeconomic trends. A recent Bloomberg article drew attention to the persistent US yield-curve flattening.

This curve represents the spread between long term and short term Treasury bond rates, and provides extra compensation to investors when they choose to place their funds in long-term holdings. Some observers maintain that the flattening curve is a natural market reaction to the Fed meeting low inflation rates with tightening monetary policy. This theoretically translates into short-term interest rate increases.

With the Cantor Fitzgerald chief market strategist describing this as “the most important” economic factor in play, there are worries that this could result in an economic slowdown. There is a perceived risk that, with investors accessing a lower yield range on 30- and 10-year Treasury notes, the flattening yield curve would infect the real economy and bank earnings. Even with employment growth increasing at the fastest rate since 2000, the government might find it challenging to confront a slowdown through policy tools in this scenario.


FINRA’s Series 7 Exam

Series 7 Exam pic
Series 7 Exam

A director in Cantor Fitzgerald’s Global Markets Sales and Trading division, Kevin Colvin provides coverage for a number of multibillion dollar accounts and prospects new accounts among other responsibilities. Moreover, Kevin Colvin holds Series 7, 63, and 79 certifications.

The Series 7 Exam or General Securities Representative Qualification Exam (GS), which the Financial Industry Regulatory Authority (FINRA) administers, determines candidates’ capacity to handle the responsibilities associated with the general securities representative position. These encompass the sales of government securities, municipal securities, variable annuities, investment company securities, corporate securities, options, and direct participation programs.

To pass the Series 7 exam, candidates must get a score of at least 72 percent. The exam comprises 250 scored questions and 10 pretest questions that are unscored, and candidates have two sessions (each one lasting three hours) to complete it. The Series 7 exam covers the different areas that are relevant to a general securities representative’s major job functions.

The Chartered Financial Analyst Program Level II Exam

In addition to completing other requirements, financial professionals must pass the CFA Program Level II Exam in order to become an official CFA chartholder. The second of three CFA Institute exams, the CFA Program Level II focuses primarily on asset valuation. Individuals taking the exam must apply the tools and concepts that they mastered at Level I in order to analyze and value investments. The CFA Institute also expects Level II candidates to have a comprehensive knowledge of capital market theory and industry and company analysis.

The CFA Program Level II Exam consists of 120 multiple-choice questions that cover material from 20 different vignettes (or “mini-cases”). After reading each vignette, which range from one to three pages in length, test takers must answer six questions.

The minimum passing score for the CFA Program Level II Exam varies from year to year. In 2016, test takers had to achieve a minimum score of 46 percent to pass.

About the Author:

Kevin Colvin
Jessica and Kevin Colvin

Kevin Colvin is an experienced New York City financial services professional who currently serves as a director in the global market sales and trading division of Cantor Fitzgerald. Before assuming this position in 2013, he was a vice president of debt capital markets for Cantor Fitzgerald. In addition to holding Series 7 and Series 63 securities licenses from FINRA, Kevin Colvin is a Chartered Financial Analyst (CFA) Level II candidate.

2017 SFIG Conference Attracted More than 6,700 Industry Professionals

SFIG strives to educate members and legislators, advocate for its members, and support a liquid securitization market. One of the ways it achieves its goals is through the annual SFIG Conference. During the three-day event, more than 6,700 industry participants attended the event and had an opportunity to listen to keynote speakers. These speakers included chairman of the NAHREP Foundation Gerald “Jerry” Ascencio, executive chairman of The Chertoff Group Michael Chertoff, and former Congressman Joe Scarborough. Those in attendance included accountants, underwriters, consultants, analysts, and regulators.

The conference also offered breakout sessions, networking opportunities, and welcoming receptions. Attendees had a chance to garner continuing legal education credits for the state of Nevada on behalf of the Information Management Network.

About the Author:

Kevin Colvin
Kevin Colvin with his wife, Jessica

Married to his wife Jessica, who is a buyer at Macy’s, Kevin Colvin works as the director of global market sales and trading for New York City’s Cantor Fitzgerald. To help him remain current with industry trends, Kevin Colvin attends trade shows and conferences, including the 2017 Structured Finance Industry Group (SFIG) conference, which occurred from February 26 through March 1 at the Aria Resort and Casino in Las Vegas, Nevada.