Ferrari-Loving Trader Burned Wall Street With Bond Bet Leveraged 11,000-to-1

BloombergSunday, October 5, 2025 at 9:00:10 PM
Ferrari-Loving Trader Burned Wall Street With Bond Bet Leveraged 11,000-to-1
A trader's risky bond bet, leveraged at an astonishing 11,000-to-1, has led to a staggering $2.6 billion loss for firms like Citigroup and MUFG. This incident is now central to a lawsuit in London, highlighting serious concerns about the adequacy of client checks in high-stakes trading. The fallout from this trade not only impacts the involved firms but also raises broader questions about risk management practices on Wall Street.
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