Future Finance

Bond-Trading Bots on Verge of Becoming Masters of the Universe

Photographer: Erik Von Weber/Getty Images
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They were the “golden crumbs,” those bits of money that fall off as bonds get traded around the world.

Those crumbs were enough to make bond traders the Masters of the Universe in Tom Wolfe’s 1987 novel “The Bonfire of the Vanities.” But those days are long gone.