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05:27 Nov 10, 2003
English to Chinese translations [PRO] Bus/Financial
English term or phrase:A strong proprietary bent
But this burgeoning investor appetite to receive inflation payouts required an equal and opposite appetite for dealers on the other side of the trades to pay inflation. What happened? Driss Ben-Brahim, who runs global inflation and exotic options trading at Goldman Sachs, says: “The Street started underwriting, as principal, the inflation risk in Europe – either outright, or they would warehouse it against other inflation risk they might have, such as French inflation-linked bonds.” And Ben-Brahim makes no bones about what Goldman’s favoured strategy was: “A strong proprietary bent is necessary to run a successful inflation business.”