Research Intern – Global Macro & Public Markets | CFA Level II+

About Us At Vulcury, we help businesses thrive through tailored consulting and bring innovative ideas to life with our venture studio. We believe that the future of business is built on a foundation of innovation, strategy, and execution. That’s why we’ve developed two distinct yet complementary divisions: Consulting Division We provide strategic insights and tailored solutions that help businesses overcome challenges, scale operations, and seize market opportunities. Venture Studio Our studio transforms ideas into impactful startups by leveraging our expertise in ideation, incubation, and execution. Together, these divisions allow Vulcury to tackle complex problems, create new opportunities, and make a meaningful impact on businesses and industries. Job Description This is a remote position. Calisade Research Intern – Global Macro & Public Markets Location: India (Remote) Hours: India Business Hours Company: Calisade — Research Division of Vulcury LLC Compensation: Stipend-based Internship About Calisade Calisade is a research-driven public markets platform focused on understanding structural shifts in global capital markets and the macroeconomic forces that drive asset prices . We conduct long-form thematic research across monetary policy, inflation, interest rates, liquidity, fiscal policy, sovereign balance sheets, capital flows, technological investment cycles, and sector-level dislocations . Our research informs investment vehicles operating downstream, but Calisade itself is a research institution . We prioritize intellectual rigor over speed, evidence over narrative, and clarity over consensus. The Role We are looking for a Research Intern with strong macroeconomic and capital-markets fundamentals , ideally a CFA Level II candidate who has cleared Level II or a CFA charterholder/CFA Level III candidate , to contribute to Calisade's research platform. This is a macro-focused research role . You will study how changes in the global economic and financial environment translate into implications for equities, sectors, valuations, and capital allocation . The ideal candidate is comfortable asking questions such as: What does a change in the global rate regime mean for equity valuations? How do inflation and real yields affect different sectors? What does fiscal expansion mean for rates, liquidity, and risk assets? How do changes in global liquidity and credit conditions affect capital flows? How should investors interpret shifts in sovereign balance sheets? Which sectors are structurally advantaged or vulnerable under changing macro regimes? This is not a spreadsheet-only internship. Research, writing, synthesis, and independent thinking are central to the role. Core Responsibilities 1. Global Macro Research Monitor and analyze major macroeconomic developments across the U.S., India, Europe, China, and other major markets , including: Inflation and inflation expectations Central-bank policy and interest-rate cycles Real and nominal yields Yield curves and duration sensitivity Fiscal deficits and sovereign debt dynamics Global liquidity conditions Credit spreads and financial conditions Currency movements Commodity cycles Cross-border capital flows Major structural economic and technological trends Translate these developments into clear, evidence-based research conclusions . 2. Macro-to-Market Analysis Connect macroeconomic factors to public markets. Analyze how changes in the macro environment affect: Equity valuations Earnings expectations Sector performance Risk premiums Capital allocation Corporate financing conditions Investment cycles The ability to move from macro → markets → sectors → companies is particularly important. 3. Public Equity Research Support company-level research within broader macro and thematic frameworks. You may analyze: Business models and competitive positioning Revenue and margin durability Capital allocation Balance-sheet strength Valuation Scenario analysis Sensitivity to rates, inflation, liquidity, and economic cycles The objective is not simply to identify "good companies," but to understand how businesses behave under different macroeconomic regimes. 4. Research Writing Contribute directly to Calisade's written research output, including: Long-form macro research papers Thematic research notes Company and sector analyses Weekly research publications Calisade Digest You will be expected to defend your reasoning, respond to challenges, revise your work, and improve your analytical framework over time. Who We Are Looking For Mandatory Credential Requirement Candidates must meet at least one of the following: CFA Level II passed or above — preferred CFA Level III candidate CFA charterholder MBA from a recognized institution with a strong focus in Finance, Economics, or a closely related discipline Candidates who have cleared CFA Level II and are continuing toward the charter are particularly encouraged to apply. Strong Preference for Macro-Focused Candidates We are particularly interested in candidates who have a demonstrated interest or experience in: Global macroeconomics Monetary policy Inflation and real rates Fixed income and duration Fiscal policy and sovereign debt Liquidity and credit cycles Global capital flows Cross-asset relationships Macro-driven equity research Investment regime analysis A candidate who can explain why a macroeconomic change matters for markets — rather than simply describe what happened — will stand out. Academic & Analytical Background Preferred backgrounds include: Finance Economics Mathematics Engineering Statistics Quantitative disciplines Related analytical fields Candidates should demonstrate a strong understanding of: Inflation → Interest Rates → Liquidity → Credit → Valuations → Capital Flows → Equity/Sector Outcomes Experience analyzing public equities is valuable, but strong macroeconomic reasoning and the ability to connect macro factors to markets are more important than having extensive prior equity-research experience. What We Value We are looking for someone who demonstrates: Analytical precision Strong macroeconomic intuition Structured thinking Excellent written English Evidence-based reasoning Intellectual curiosity Ability to synthesize complex information Comfort challenging consensus Willingness to defend and revise an argument Consistent and reliable execution You should be able to take a complex macroeconomic development and answer: What changed? Why did it change? Why does it matter? Who is affected? And what does it imply for markets? Why This Role Matters Calisade's credibility is built on research quality and intellectual independence . As a Research Intern, your work will contribute directly to the research foundation of the platform. You will gain exposure to: Institutional-style macroeconomic research Global public-market analysis Thematic investment research Macro-to-equity frameworks Research writing and publication Scenario and valuation analysis A rigorous process for developing and defending investment theses What Success Looks Like Success in this role means producing research that is: Clear — complex ideas are communicated simply. Defensible — conclusions are supported by evidence. Macro-aware — company and sector analysis reflects the broader economic regime. Independent — analysis is not driven by consensus. Useful — research leads to meaningful conclusions about markets and capital allocation. Consistent — high-quality output is delivered reliably. Ideal Candidate Profile CFA Level II cleared or above + strong macroeconomic understanding + public-markets interest + excellent research writing. If you are interested in global macro, monetary policy, fiscal dynamics, liquidity, capital flows, and how these forces shape equity markets, this role is designed for you.