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Have to do a Masters dissertations this summer. Can anyone suggest a topic, which would be interested for a potential employer? Basically what's hot in the market??? My interests are more in Fixed Income, although the programming skills are not so great (beginner in VBA and C++), but enjoy Fin. Econometrics.Thank you

I have an impression that the CDOs and CDSs are quite "hot" now. Does anyone know what other credit derivatives are popular now? Is there any specific application in these areas someone would suggest to be of a great demand of research and modelling?