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Lean times for investment banks put rates desks under fire

Reuters – Have the mega-buck years of bond and interest rate trading gone for good, or will normal service resume after an ugly 2013?

That’s the question facing investment bank chiefs as they try to squeeze costs and improve returns. Some are clinging to the hope that diving revenue from a “complex, messy business” will be temporary, and they need to keep trading teams together for when the market recovers.

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