Editor's letter
Credit research is in crisis. Banks are slashing the amount they spend on high-grade analysis, number-crunching is increasingly outsourced to cheaper centres and the buy side reports the quality of the service they receive has plummeted accordingly.
One correspondent (see letter below) believes that with greater investment the sell side can resume its rightful position as the purveyor of quality credit research in this industry. But is that the role the sell side really wants? Or would they
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