Bloomberg A former trader at Bank of America Corp’s (BofA) Merrill Lynch unit has admitted to manipulating Treasury prices through a spoofing scheme. Tyler Forbes, 27, pleaded guilty in federal court in Brooklyn to working to rig the prices of Treasuries traded on the secondary market, consisting mostly of two-and-three-year notes, from January to June 2019.

Bloomberg Index futures signalled a rout in US stocks on Thursday after the Federal Reserve signalled willingness to accept a recession and rise in unemployment in its resolve to contain elevated inflation. September contracts on the S&P 500 and Nasdaq 100 gauges slumped at least 2.4% each, with traders giving up their initial optimism over Fed Chair Jerome Powell’s comments …

Bloomberg South Korea will extend trading hours for its onshore foreign-exchange market to 2 am local time in a bid to attract more foreign investors. The move is part of a plan to eventually allow the onshore market to trade around the clock, the finance ministry said in a statement without detailing when the new hours will take effect. The …