Regulators look to reduce Treasury market reliance on big bank dealers – WSJ

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The report, due to be released on Thursday, shows regulators are in support of ‘all-to-all’ trading, a concept in which buyers and sellers would trade Treasury securities directly with each other rather than rely on big banks, the WSJ report said.

U.S. capital market regulator, Securities and Exchange Commission, did not immediately respond to a Reuters request for comment.

The move comes at a time of heightened volatility in the U.S. bond market due to uncertainty over future rate hikes and worries of a looming recession.

The Treasuries market is the world’s largest bond market and serves as a global benchmark for a swathe of other asset classes, making its price swings especially worrying.