Interesting article in the WSJ today talking about how BlackRock is building a new bond trading platform to skirt the large spreads they have to pay to the BB's. Obviously this is still in its infancy, but BlackRock is pretty enormous, and most firms love having them place trades. If this picks up steam, it could have the ability to put a dent in FI trading profits.
what do you guys think?
link to article
http://online.wsj.com/article/SB10001424052702303…
Was just going to post this, pretty interesting. BlackRock is a top client to these desks
I wonder how much action the platform will actually get.
Kinda difficult to cross bond trades, just because there are so many fucking different bonds. There's a reason fixed income trading has always been more profitable than equities.
Saw that...it kind of confused me for the same reason as duff...we'll see though
seems unlikely to me as corp bond mkt is relatively illiquid and conflict of interest issues (blackrock funds buying bonds from Black-rock dealers)
http://soberlook.com/2012/02/regulate-it-all-ask-questions-later.html
http://soberlook.com/2011/12/unintended-consequences-new-regulation.html
interesting article,,,as a corollary,,,do u agree with this site's rankings in regards to pricing a corp bond/hy deal at the current moment
Curious to hear peoples rankings in regard to the size and reputation of each big bank's credit business namely Credit Trading (IG and HY) and CDS.
I know JP, DB, C, and BofA have done a ton of credit issuance this year Hasn't the GS credit business lost significant mkt share YOY?
I was talking to my friends Dad who is a BB trader head and he mentioned how the BB's in the future are screwed and he said not to go into trading lol - made me sad, but for these exact reasons
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