This gets interesting. Federal prosecutors have subpoenaed several banks as part of a criminal investigation into possible manipulation of the U.S. Treasuries market, according to people familiar with the matter. UBS Group AG, BNP Paribas SA and the Royal Bank of Scotland Group Plc received subpoenas last month seeking information on the $14 trillion market, the people said. New York-based Morgan Stanley has also received a subpoena, one person said. The Justice Department has been examining the U.S. Treasuries market for roughly two years. In November 2015, Goldman Sachs Group Inc. disclosed that U.S. authorities had sought information related to its trading of when-issued securities, which are among the least transparent instruments in the world’s largest debt market. https://www.bloomberg.com/news/arti...said-to-get-subpoenas-in-u-s-treasuries-probe