Morgan Stanley is about to make deep cuts to its fixed income business.
That’s according to Bloomberg’s Ambereen Choudhury, Michael J. Moore and Hugh Son, who report that the cuts will take place over the next two weeks,, citing two people with knowledge of the plans.
The cuts could amount to 25% of the fixed income workforce, according to the report.
Bond trading revenue was down 42% at Morgan Stanley in the third quarter.
More to come…