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For European investment banks pining for the return of outsized bonuses, 2017 promised so much yet delivered so little.Lenders including Barclays PLC, Deutsche Bank AG and Credit Suisse Group AG, which have already slashed some rewards in recent years, may see bonus pools for fixed-income traders drop by at least 10 percent and will be forced to hand out "doughnuts," industry slang for zero payout, recruiters and executives said. Banks may cut bonuses as much as 25 percent for some fixed-income traders, said Terry.Globally, revenue from so-called G-10 rates, banks' biggest fixed-income business, which deals in products tied to interest rates, has declined 11 percent so far this year to $19 billion, currency trading has slumped 21 percent to $5.3 billion, and credit trading is down 1 percent to $11 billion, data from Coalition Development Ltd. show.Then there were the European banks' self-inflicted wounds: at Credit Suisse, traders struggled with a reorganization of the bank's derivatives businesses.
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