Salomon Smith Barney, Goldman Sachs, Morgan Stanley to create bond portal

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New York--Citigroup subsidiary Salomon Smith Barney, Goldman Sachs & Co. and Morgan Stanley Dean Witter & Co. will launch a portal to carry their fixed-income investment research and trading information, a first for the bond market. The portal, called Bond Hub, will be aimed at institutional investors and be accessible at no cost, according to The Wall Street Journal. The deal is important because of the great sway the three companies hold over global financial markets; still, the portal won't offer Web transactions, a service that many institutional investor consultants believe is inevitable despite resistance from asset management giants.
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