Bond-Trader Challenges Playout for Credit Agricole
To see how far the prestige of the U.S. Treasury market’s primary dealers has declined, consider the case of Credit Agricole SA. For years, France’s third-largest bank courted the Federal Reserve Bank of New York, supplying trade and flows data to demonstrate it was worthy of joining the $13.6 trillion market’s middlemen. The bank also expanded its Treasuries business by adding traders and sales staff and sought out new institutional clients. Bloomberg's Paul Dobson reports and Aviva Investors Head of Macro Strategy Charles Diebel discusses with Bloomberg's Manus Cranny and Nejra Cehic on "Countdown."