Bond analysts are getting priced out by software

Bond analysts are getting priced out by software, and the SpaceX bond sale is the receipt. Financial Times reported Allianz CIO calling markets “bubble territory” while software handled most of the pricing work before anyone opened Excel. That’s the part nobody wants to say out loud: the analyst isn’t being replaced by bonds, they’re being replaced by the workflow. The open question is whether treasury, credit, and fixed income teams keep hand-building models until the software owns the desk. Pick a side in the comments: who gets cut first, the model builder or the team that trusts the model?