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FIG is financial institutions group, not fixed income.

like FIG, industrials is just an industry coverage group within investment banking. industrials include railroads, airlines, construction etc.

other industries include the aforementioned financial institutions - banks, insurance companies, and sometimes governments are included within this group.

then there's TMT (technology, media, telecom), healthcare, natural resources, etc. All of these are simply different industry coverage groups within investment banking.

 

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