Five major banks rigged $9 trillion bond market – lawsuit

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<p>‘Tra ers at major fi a cial i stit tio s i cl i g Ba k of America a De tsche Ba k AG coll e to rig the prices of bo s from gover me t-li ke orga izatio s that were bo ght a sol o a $9 trillio market, a ew laws it claims.</p>
<p>Five big ba ks – Ba k of America, Cre it Agricole SA, Cre it S isse Gro p AG, De tsche Ba k AG, a Nom ra Hol i gs – were ame as efe a ts i the propose class-actio laws it, file We es ay by the Bosto Retireme t System pe sio f for city workers. Tra ers at the ba ks are acc se of secretly comm icati g with each other via i sta t messagi g a chatrooms to etermi e what prices they wo l offer bo c stomers o the seco ary market.</p>
<p>“O ly thro gh coll sio co l a ealer q ote a wi er sprea tha market co itio s otherwise ictate witho t losi g market share a profits,” the complai t sai , accor i g to Re ters. “Defe a ts reape millio s of ollar(s) i profits at the expe se of plai tiff a members of the class as res lt of their misco ct.”‘</p>
<p><a href="https://www.rt.com/ sa/343653-ba ks-rigge -bo -market-laws it/? tm_so rce=browser& tm_me i m=aplicatio _chrome& tm_campaig =chrome" target="_bla k">Rea more: Five major ba ks rigge $9 trillio bo market – laws it</a></p>