The malaise in rates markets following the taper tantrum in May 2013 when the US Federal Reserve announced it would begin tapering back its $70 billion a month in bond purchases combined with low levels of volatility has resulted in a tough year for most rates dealers.
Revenues are down, with the 10 largest investment banks witnessing a 16% fall in fixed-income, currencies and commodities revenue in the first quarter of this year, according to analytics firm Coalition. Interest rate derivative
- Asia moves: Natixis sales head moves to Barclays, new banking head for StanChart Singapore, and more
- Functional programming reaches for stardom in finance
- Banks hope final FRTB rules will ease NMRF burden
- Banks use machine learning to ‘augment’ corporate sales
- Buy-siders eye ways to get ahead of US resolution stay rules