Credit Suisse will stay 'very active' in government bonds after shrinking some parts of its fixed-income business because its customers demand access to those markets, its head of European rates trading said.
Bloomberg reports that the bank is a market maker for sovereign debt in nine European nations, including Germany and the U.K., and has no plans to cut back in those markets, London-based Laurent Curtat said in a phone interview yesterday.
Credit Suisse is creating a new division that combines rates, foreign-exchange and commodities operations and is cutting more than 100 fixed-income jobs to boost profitability.
'It’s absolutely clear we want to continue to be very active and growing in the sovereign, supranational and agency business', Curtat said. 'Sovereign bonds are one of our key products. For our clients, it is important that they have access to these markets, both in the primary and secondary sides. We see this as part of a holistic business strategy'.
To access the complete Bloomberg article hit the link below: