JPMorgan to pay $920M for manipulating bond, metals markets

NEW YORK (AP) — JPMorgan Chase admitted Tuesday to manipulating the markets for precious metals and U.S. Treasuries, agreeing to pay $920 million in fines and penalties for the illegal behavior.  U.S. financial regulators and the Department of Justice said traders at JPMorgan used a tactic known as “spoofing” over an eight-year period. Spoofing is when traders send trading signals into a market, with no intention of buying or selling at those prices, in order to move a market in one direction or another.