Big rally to pump up Wall Street bonuses

Equity traders and investment bankers handed a last-minute boost, while bond traders are left to nurse a difficult 2013

Tuesday 24 December 2013 at 13:54

A strong rally in financial markets over the past two months is expected to add a last-minute boost to bonus packages for Wall Street's traders and investment bankers, partially offsetting an otherwise grim year.

The winners in financial firms this year are likely to be equity traders, who have reaped gains from soaring stock markets, and investment bankers, who have benefited from a pickup in initial public offerings and other deals. But the recent rally is unlikely to provide much help to bond traders, who have endured one of their toughest years since the financial crisis.