When I started my career in the financial markets in 1985 at Daiwa Europe Ltd, market knowledge and experience were very limited. Veterans were 26 years old with 3 years experience trading Eurobonds. As raw recruits new to the industry, the 5 minute executive decision that determined whether you were to be on the sales or trading desk was farcical in today’s eyes. I was last in the queue to have my career path chosen by Kiyokawa-san. “You trade US treasuries………!” Ok, great, so I got to sit over in the bond corner, splendid. Long before the days of Bloomberg and the internet, your ONLY real reference point was Marcia Stigum’s ‘The Money Market’, still in print today.