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Allstate Ups Bond Trading as Wall Street Retreats

Insurer sees supply-and-demand imbalance in fixed-income market, provides liqudity as banks reduce their bond inventories.

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Allstate Corp. Chief Executive Officer Tom Wilson has increased bond trading to boost returns as Wall Street scales back from making markets.

“We’re a big player in the fixed-income market, we have capacity to hold stuff, we don’t have high liquidity needs,” Wilson said in an interview at Bloomberg’s New York headquarters last Thursday. “Rather than assume that everything we buy has to stay in the warehouse at the same time, let’s assume that we can buy it and sell it.”

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