ESTR
Angel Estrada S.A
stock NASDAQ

Most quant work by page count is actually probably in fixed income derivatives but no one actually trades the really complicated stuff any more (or not like they used to do).
It's a fairly closed market e.g. you need a bunch of agreements and capital to trade basically anything (even shorting a treasury bond for example).
Similarly, because the instruments basically all have convexity (/ an expiry date) it's somewhat harder to model them (e.g. if you have a long term view on 5y5y ESTR you won't have a 5y5y swap in a month's time and may have to roll) and because it's OTC getting good data for execution is harder.
Getting good valuations across the whole curve (i.e. the right instruments, interpolation etc) is easily enough work for a small team.

Most quant work by page count is actually probably in fixed income derivatives but no one actually trades the really complicated stuff any more (or not like they used to do).
It's a fairly closed market e.g. you need a bunch of agreements and capital to trade basically anything (even shorting a treasury bond for example).
Similarly, because the instruments basically all have convexity (/ an expiry date) it's somewhat harder to model them (e.g. if you have a long term view on 5y5y ESTR you won't have a 5y5y swap in a month's time and may have to roll) and because it's OTC getting good data for execution is harder.
Getting good valuations across the whole curve (i.e. the right instruments, interpolation etc) is easily enough work for a small team.