Bloomberg: The market for US Treasury bonds may have been rigged.That’s according to a federal antitrust lawsuit, first reported by Bloomberg's Alexandra Scaggs and Matthew Leising.The plaintiffs — Cleveland Bakers and Teamsters Pension Fund, represented by law firm Quinn Emmanuel Urquhart & Sullivan — claim that Treasury dealers including Goldman Sachs, JPMorgan, and Morgan Stanley coordinated to manipulate primary market Treasury auctions.They cite data from Rosa Abrantes-Metz, who has testified in other market-rigging cases and is an adjunct associate professor at New York University.According to her analysis, 69% of a certain type of Treasury auction — for so-called reissued Treasuries — look suspicious.Goldman Sachs and Morgan Stanley declined to comment.
Of course it is rigged, there is a monopoly source of n ew debt, the Republican Communist party, in the Senate.. Not only that, we actually pay boneheads at MIT a fee for figuring out how to rig rates. and listen to Stanley Fischer, he says the Fed and Treasury have rigged rates through al 2016, he has a rate raising schedule/ Then we have the Kanosian crew who claim the right of rate manipulation..
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