US Treasuries revolution in limbo under Mnuchin
There are worries efforts to make government bond prices more transparent could die under new administration
Washington
THE revolution in the US Treasury market is in limbo.
Deep within an office park in Rockville, Maryland, a US financial industry watchdog is hard at work trying to make the US$13.9 trillion market easier to understand.
The fate of that effort is in the hands of a new Treasury secretary, former Goldman Sachs executive Steven Mnuchin, whose decision ultimately will determine whether Wall Street banks continue to dominate a market that helps set everything from credit card to mortgage rates.
More than two years of work is at stake, and some of the project's architects worry that efforts t…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Sunak says UK to raise defence spending amid global threats
China’s central bank hints it may add treasury bond trades to policy toolkit
US business activity cools in April; inflation measures mixed
India’s inflation at risk from extreme weather, geopolitical issues: central bank
Thailand to replace military-appointed Senate, reduce its powers
Bankers lose hope of London IPO revival for another year