Intelligent finance

Comment: Columnists

It's official! The credit cycle is turning. I know because I read it on the front page of the London Evening Standard. "Thousands more City millionaires". This year, unlike the previous five years, most of the new millionaires will be bankers and equity market participants rather than our friends in the credit markets. But what of the credit market professionals who have been the drivers of P&L for the last five years? A lot less champagne this year I'm afraid. Issuance has been muted, the

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