Open practice

Jan Loeys, head of credit and rates market strategy at JPMorgan, has definite views on how a fixed income research division should be run. His philosophy can be summed up in a few phrases: fixed income research should strive for diversity of opinion; it should embrace openness; and it should be accountable.

Diversity of opinion is not necessarily a quality that bond houses automatically look for in their research. Instead, the focus can revolve around presenting a ‘house view’. Belgian-born