Sallying out
THE yuppie's farewell to serious money? Shudders run through a thousand Gucci wallets as Salomon Brothers confirm that, for them, bond dealing is no longer the most fun they can have with their clothes on. They are withdrawing from markets and cutting jobs, in London and in New York. That is a portent, for if the mighty Sallies can't make money in these markets, who can? In the international bond mar- kets, salaries have been falling for some time, and, less conspicuously than Salo- mon, firms have been running their num- bers down. City employers can pick and choose; job security now matters. In the equity share markets, international and domestic, salaries, at least for the star performers, have risen until recently, but then, so have the markets. It will not always be so.
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