Possible fraudulent manipulation of Treasurys market under investigation

Money On Hook

The Justice Department is looking into possible fraudulent manipulation of the $12.5tril Treasurys market, The New York Post has learned.

The newspaper reports that US Government lawyers are said to be in the early stages of a probe and have reached out in recent months to at least three of the 22 financial institutions that act as primary government debt dealers to request information, said a person close to one of the banks who was briefed on the matter.

The focus of the probe is on Treasury auctions, a secretive process when interest rates are set for the offerings, the person said.

No single bank has become the focus of the probe, it is believed, and no bank has been accused of any wrongdoing at this time. 

To access the complete New York Post article hit the link below:

Justice Department probes banks for rigging Treasuries market

HSBC to cut up to 50,000 jobs

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts