{"id":5001,"date":"2006-09-12T00:00:00","date_gmt":"2006-09-12T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"canada-reports-suspicious-activity-in-debt-market","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/09\/2006\/canada-reports-suspicious-activity-in-debt-market.html","title":{"rendered":"Canada Reports Suspicious Activty in Debt Market"},"content":{"rendered":"<div class=\"writeboardbody\">  HedgeCo.Net (New York) &#8211; The Bank of Canada warned 19 of the countries largest bond dealers not to take advantage of Canadian debt by manipulating the bond market. The bank suspected a hedge fund  might have bought up a large share of the issue and used that stake to manipulate prices in its favour.  <\/p>\n<p>    The bank issued a public statement and is making no secret of the fact that it doesn\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2t like to see irregular trading activity on the secondary bond market. Dealers and hedge funds could face    fines of $5 million or more, or up to three times the amount of money illicitly gained. Dealers can also be kicked out of the organization, losing their rights to buy and sell bonds.  <\/p>\n<p>    At stake is Canada\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s reputation as a stable place to invest. The fact that the central bank is calling this gathering points to just how easy it has become for even small financial players and    hedge funds to influence the fixed income market.  <\/p>\n<p>    The meeting stems from an investigation of suspicious bond trading activity in the last three weeks of May, when the price spiked on benchmark government of Canada 10-year debt and derivates    priced off that bond.  <\/p>\n<p>    There are $10-billion of these bonds outstanding, but the <span class=\"caps\">IDA<\/span>\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s initial investigation turned up \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cinsufficient grounds\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d for further digging.  <\/p>\n<p>    The federal government has billions of dollars at stake in the bond market, and a smoothly functioning bond trade is crucial for the country\u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u201e\u00a2s economic health.  <\/p>\n<p align=\"left\">    Alex Akesson<br \/>    Contributing Writer<br \/>    HedgeCo.Net<br \/>    Email: <a href=\"mailto:Editor@hedgeco.net\">Editor@hedgeco.net<\/a>   <\/p>\n<div align=\"left\">\n<p align=\"left\">      HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership on www.hedgeco.net is FREE and EASY. We also offer FREE LISTINGS for Hedge      Funds!    <\/p>\n<div align=\"left\">\n<p align=\"left\">        <strong>Be sure to check out our sister sites. <a href=\"http:\/\/www.hedgefundlounge.com\/\">www.hedgefundlounge.com<\/a>, <a href=        \"http:\/\/www.hedgefundtools.com\/\">www.hedgefundtools.com,<\/a><\/strong> and <a href=\"http:\/\/www.hedgefundemployment.com\/\"><strong>www.hedgefundemployment.com.<\/strong><\/a>      <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>HedgeCo.Net (New York) &#8211; The Bank of Canada warned 19 of the countries largest bond dealers not to take advantage of Canadian debt by manipulating the bond market. The bank suspected a hedge fund might have bought up a large [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-5001","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/5001","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=5001"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/5001\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=5001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=5001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=5001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}