A strong rally in financial markets over the past two months is expected to add a last-minute boost to bonus packages for Wall Street’s traders and investment bankers, partially offsetting an otherwise grim year.
The winners in financial firms this year are likely to be equity traders, who have reaped gains from soaring stock markets, and investment bankers, who have benefited from a pickup in initial public offerings and other deals. But the recent rally is unlikely to provide much help to bond traders, who have endured one of their toughest years since the financial crisis.
Tough year for bond and commodity traders. Agents, cull your customer lists accordingly.