Euro-area government bonds surged this week, propelling yields across the currency bloc to record lows, as an unprecedented package of European Central Bank stimulus measures added fuel to this year’s rally.
Matthew Teeple, a former analyst at a San Francisco-based hedge fund who was accused of taking part in a $27 million insider-trading scheme, admitted that he passed on a tip about Foundry Networks Inc.’s acquisition of Brocade Communications Systems Inc. on which others traded.
A former Foundry Networks Inc. executive was charged in what prosecutors called a $27 million insider-trading scheme with tipping a California hedge fund analyst about the company’s acquisition by Brocade Communications Systems Inc.
Policy makers’ efforts to end Europe’s debt crisis face government backsliding and stretched budgets, said David Riley, head of European sovereign debt at Fitch Ratings. The region’s fiscal turmoil will last at least another year, he predicted.
Portugal doesn’t present the risk of default that Greece does to the rest of the European Union because officials there are seeking to contain the nation’s financial crisis, according to Fitch Ratings.