These guys are likely to face incredibly shrinking bonuses

Ronnie Sweating Large

A year that started with such promise is headed for a sour ending.

Bloomberg News reports that equities traders, be kind to your brethren on the fixed-income desk: Their year started with such promise and is headed for a sour ending.

Traders of bonds, currencies and commodities are facing a shrinking year-end bonus pool after their revenue in the first nine months slumped 11% to $32 billion at the four biggest U.S. investment banks, according to results announced by the firms this week. That business started the year on decent footing, stumbled in the first half and then tumbled in the third quarter. Meantime, equities revenue surged 18% to $16.7 billion.

While that leaves equities traders in a relatively better position, the bond bust isn’t good for anyone working in markets divisions, because it still puts pressure on banks to push down compensation and consider other cost-saving measures.

Hit the link below to access the complete Bloomberg article:

Bond Traders Face Incredible Shrinking Bonus as Revenue Tumbles

Goldman Plays Outdated Debt Game

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News