The European Commission has initiated a preliminary inquiry into the possible manipulation of the $1.5trn government-backed bond market by financial traders.
In this latest investigation, the European regulators are joining the US Department of Justice and the Financial Conduct Authority in the UK, which are carrying out similar investigations of their own. The new probe follows hot on the heels of investigations into LIBOR manipulation and the rigging of foreigh exchange markets by traders that took place after the financial crisis. According to the Financial Times, the commission's competition department has sent out questionnaires to market participants as part of an initial investigation into the rigging of the prices of supranational,...
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