Market participants have been saying for some time that 2008 will to be a bad year to have a good year. However, until the past couple of weeks, the general view has been that bonuses, aka ‘bonios’, will hold up. ‘If the banks want to keep hold of the producers, they will have to pay them,’ seems to be the consensus.
I have long had my doubts. After all, banks around the world have come under increasing political pressure to cut back on their bonus payments, which is very tough for those in FX who have continued to work hard and produce the goods.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
