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Why Bond Bankers Are Fretting
Central banks' easy-money policies are anything but easy money for the biggest banks.
Wall Street’s biggest firms can’t get a break in the bond business.
With trading profits dwindling, more dealers than ever are fighting for assignments managing U.S. corporate-bond sales, one of the few bright spots in fixed income. Companies from the most-creditworthy to the most-indebted have been selling trillions of dollars of debt, locking in record-low borrowing costs ahead of the anticipated rise in interest rates.
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