U.S. Probes Treasuries Niche That Investors Claim Is Rigged by Big BanksBy and
Prosecutors said to ask banks about `when-issued' securities
Opaque market is marked by collusion, recent suits allege
U.S. officials investigating the $12.8 trillion market for U.S. Treasuries are zeroing in on a practice of trading the debt before it’s issued, said a person familiar with the matter -- spotlighting trades that several recent lawsuits allege are part of big banks’ efforts to rig Treasury markets.
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