It may be slight consolation for all the bankers getting laid off right now, but banks always cut staff at the bottom of a cycle. And here we go again. Two of FinanceAsia’s best-read web stories during the past week show that while underworked banks are cutting staff to maintain the salaries of those left, those that are left are busier than ever.
The rapid spike in business during the past three weeks is across all products and markets. In fixed income a cascade of trades has hit the market, enticed by the perfect combination of excess liquidity and low yields. On the buy side, a steady...
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