Graduates wanting to enter the world of Investment Banking within Operations should be looking towards an entry level role within Fixed Income due to the increasing numbers of vacancies in that area. This is largely due to the fact that it was essentially Fixed Income, which carried equities and investment banking above the quicksands just as they were threatening to disappear last year. A not insignificant proportion of the bonuses paid to corporate financiers and equity specialists were borrowed from the debt capital markets pool.
Was 2001 the best bond year since 1993? It is fair to say that not only was 2001 better that 1993 but will be compared to drinking 1966 Chateau Cheval Blanc. But can the bond gravy train run and run? The good times do not last forever and indeed in the last quarter of 2001 the train wobbled on the track, however it would appear that this was merely a temporary setback.
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