America’s Treasuries Revolution in Limbo With Mnuchin in Charge
- Former Treasury officials fear years of work will be ignored
- Trading data for first time to be collected starting in July
Is It Too Early to Call the End of the Bond Bull Market?
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The revolution in the U.S. Treasury market is in limbo.
Deep within an office park in Rockville, Maryland, a U.S. financial industry watchdog is hard at work trying to make the $13.9 trillion market easier to understand. The fate of that effort is in the hands of a new Treasury secretary -- former Goldman Sachs Group Inc. 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.