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BNP's Skittish Traders Add to Challenges for Worst Bond Unit

  • Fixed income traders trail peers that have been cutting back
  • ‘The thing that you shouldn’t underestimate is the psychology’
BNP Paribas SA Headquarters And Branches As Bank Fined $246 Million Over Currency Manipulation
Photographer: Christophe Morin/Bloomberg
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BNP Paribas SA’s trading business was caught on the wrong side of the emerging market selloff, blindsided by the Turkish currency crisis, and deserted by clients at home.

Now add this to the French lender’s challenges as it tries to turn around one of the world’s worst-performing fixed-income units: skittish traders.