Watershed moment for SSA market as UBS shocks rivals

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Watershed moment for SSA market as UBS shocks rivals

UBS’s decision on Tuesday to close its public SSA DCM business as part of a series of cutbacks within its fixed income franchise has rocked capital markets. But the shock departure of the top four dealer from the SSA market could force banks and issuers to resolve their long standing differences that threaten to drive the market to the point of deep dysfunction.

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