Some of Europe’s biggest banks have been drawn into an SEC investigation over the possible manipulation of the US Treasuries market, the Telegraph reports. UBS has confirmed it is co-operating with the probe, which is looking into government bond price fluctuations this year. The New York Fed has called a meeting for this week with the 22 primary dealers that trade directly with the Fed. Aside from UBS, Credit Suisse is also understood to be under scrutiny from regulators, the Telegraph says. There were reports yesterday that a trader at Credit Suisse had left the bank in the face of regulatory scrutiny into bond trading. The company declined to comment. 

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