Newly hired Associates generally have the opportunity to taste test each product area. Some like U.S. Treasuries, the most liquid of the fixed income markets, where prices can fluctuate wildly any given day on news or rumors of events anywhere in the world and their likely impact on interest rates. Others prefer credit products such as corporates, emerging markets or high yield. Still others gravitate toward quantitative products like mortgages or derivatives. A variety of complex factors along with interest rate concerns cause price volatility and profit opportunities.
Trading is meritocratic.
There is no timeline to responsibility. It may take two months or it may take two years - it is entirely up to the individual.