Fixed Income — Structured Products Purpose Analyze structured fixed income products including mortgage-backed securities (MBS), asset-backed securities (ABS), and collateralized loan obligations (CLOs). This skill covers prepayment modeling, tranching mechanics, waterfall structures, and the unique risk characteristics of securitized products. Layer 2 — Asset Classes Direction both When to Use - User asks about mortgage-backed securities (MBS), agency or non-agency - User asks about asset-backed securities (ABS) — auto loans, credit cards, student loans - User asks about CLOs (Collateralized…