Woaking Trading desk work is probably the closest office job has to sports. Concentration and reflexes are important. On the other side of the trill on the phone or the chime from the computer is a customer looking to make a deal. If you are ignored, hang up and call your competitor. Many computers are running at full capacity, and the heat emanating from them is making everyone sweat. Busy days keep you away from your desk and work becomes a feat of patience. Just as sports teams use codes to inform their tactics, so do traders. “Cables, Yards, Mines, Geneva” translates to “hedge funder Brevan Howard is buying his billion pounds and selling his dollars.” Mistakes lead to name calling, shouting, and sometimes destruction of equipment.
At least that's how it was in the good old days a few decades ago. After the global financial crisis of 2007-2009, the life was drained from trading floors. Strict new rules have curbed profits. High-frequency traders were eating bank lunches, especially in the stock market. Meanwhile, the global economy was in a slump due to low interest rates. Markets moved linearly, stocks rose and bond yields fell. There have been fireworks, such as the vote to leave the European Union and the election of Donald Trump, but they have been rare. This calm world has given investors little reason to buy or sell positions. Income was meager. Sag back. The drama on the trading floor featured layoffs, not market movements.
