Hedge Funds Snap Up Japan Rates Traders in Bet on Comeback
- More than a dozen have left banks over last 18 months
- Japan’s unwinding of stimulus set to create boom in trading
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The upending of Japan’s government bond markets after almost a decade of predictability has sparked a flow of rates traders from banks to hedge funds offering the prospect of much higher pay.
More than a dozen have left firms including Morgan Stanley and Citigroup Inc. over the last 18 months as the Bank of Japan’s unwinding of monetary stimulus creates the volatility needed to make money from trading, according to people familiar with the matter.