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Machines are encroaching on bond markets' last line of resistance

Digital disruption is arriving at one of the last bastions of resistance: the syndicate desk, where corporate bonds are priced and distributed


IN the corporate-bond market, even a few billion doesn't get you a seat at the table. And Najib Nakad is so tired of settling for the scraps left by giants, he hardly bothers to bid for new issues anymore. "We are too small to have any hope of an allocation," said Mr Nakad, who helps oversee...

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