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Alternative Market Briefing

Opportunities in foreign exchange attract retired traders out of retirement

Thursday, December 06, 2012

Ernesto Prado
From Komfie Manalo, Opalesque Asia:

There are growing opportunities in foreign exchange trading that have tempted even formerly retired traders from Salomon Brothers to come out of retirement and "join the party," said, Ernesto Prado, who is responsible for investments at boutique fund of fund Ayaltis during the latest Opalesque 2012 Zurich Roundtable.

The Opalesque 2012 Zurich Roundtable was held in the office of Eurex and was sponsored by IDS, Taussig Capital and Eurex.

Prado described as particularly interesting what he calls the "fixed income FX octopus." "Imagine an octopus stretching out his tentacles all around, and on the right hand side you have all the different yield curves of developed economies. All the major markets like the U.S., Europe, and Japan. These, so to speak, yield curve tentacles are 'collapsed’ weighed by heavy debts and aging populations forward. On the other side of the octopus are the yield curve tentacles of Brazil, China and all other developing economies that are in a very different cycle. Now, the actual body of the octopus represents all the FX crosses that link the two sides. That is what the Sal......................

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