No Deals, No Problem on Wall Street
Bond traders may no longer be masters of the universe, but they could still be heroes for Wall Street.
For several years following the 2008 financial crisis, the business of fixed income, currency and commodity trading was a worry for banks. It seemed to be in a long decline from its precrisis days and many wondered if it would ever rebound from changes in regulations and banks’ risk appetite. Lately, though, FICC has been the star performer for Wall Street, helping to offset a big decline in deal-making activity.
