Ransomware attack on Chinese bank highlights fragility of the $33.7 trillion Treasury market
With Treasury markets already nearing the brink, could a cyberattack push them over the edge? A ransomware attack hit China’s biggest bank, the Industrial and Commercial Bank of China (ICBC) on Thursday, preventing it from settling some trades in U.S. Treasuries. News of the attack riled some participants in the Treasury market, with news stories citing as...