As U.S. Probes $12.7 Trillion Treasury Market, Trader Talk Is a Good Place to Start
Justice Department Probe Turns Towards Treasuries
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The U.S. federal probe that ended last month with guilty pleas and $6 billion in fines from global banks began with an open secret -- that currency traders there could talk to each other to coordinate trades.
Now, the Justice Department unit behind those prosecutions is turning its sights on the $12.7 trillion U.S. Treasury market, a world with some of its own open secrets.