A Ferrari-loving British bond trader is being sued in London court after his $2.6 billion bet against US Treasuries at the outbreak of the COVID-19 pandemic backfired — costing Wall Street giants an estimated $250 million in losses, according to a report. Singapore-based Jan Ralph, convinced the coronavirus threat was overblown, enlisted firms including Goldman Sachs, Citigroup and Wells Fargo to help him short Uncle Sam’s debt, Bloomberg reported. Ralph’s tiny firm Blackbrook Asset Management

Tag-uri: Coronavirus