Interest rate derivatives house of the year: Goldman Sachs

Interest rate derivatives house of the year: Goldman Sachs

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Kostas Pantazopoulos, Goldman Sachs

Comments by Federal Reserve chairman Ben Bernanke last May proved to be a wake-up call for many in the fixed-income markets. Bond prices had climbed almost continually since the first round of quantitative easing in the US in late 2008, but a seemingly innocuous comment by Bernanke – that the central bank may consider tapering its bond purchases – sent fixed-income prices tumbling. The subsequent volatility served as a reminder that rates won’t stay low for ever, and made it

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