[h=1]Banks Keep Cutting Bond Traders With One-Third Gone Since 2011[/h]
Donal Griffin
The world?s biggest banks have shed about one in three bond traders since 2011 as rules that make some businesses less profitable dovetail with volatile markets that are spooking investors, according to research from Coalition Development Ltd.
...
...The new rules have coincided with a slump in commodity prices and a slowdown in the Chinese economy that helped bring about what Coalition described as the
the slowest start to the year for the industry since the financial crisis.
...
Within FICC, revenue from trading credit products fell 39 percent in the period to $2.9 billion because of
?exceptional weakness? in distressed bonds and collateralized loan obligations, or CLOs, according to the report...
