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Rates traders have had a terrible year. So they're swapping jobs
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2024 has not been a good year to work in rates trading. The realized and unrealized gains of Goldman Sachs'macro traders fell 78% in the first six months of this year, and the firm said in October that its third quarter rates revenues were significantly lower. Nor is Goldman the only place struggling: BCG Expand estimates that European rates trading revenues were down 43% year-on-year in the first nine months of 2024.
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