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Regulators are considering opening the books on the $14 trillion Treasury bond market, allowing investors to take a look at previously unavailable data about Wall Street's trading habits.
Treasury Secretary Steven Mnuchin, speaking at a meeting of bankers and bond traders in New York on Tuesday, said a policy of making the data public was "under review" but would only be undertaken in a way that is "least disruptive" to the world's largest and most liquid market.
Regulators began collecting trade information on Treasury bonds this summer as they try to get a better grip on patterns affecting the vast market, which like stock trading has been transformed by electronic trading.
The industry has debated with regulators whether to make this data public, something that could be a boon to electronic traders and hedge funds looking for any additional information they can get.
Soon-to-retire New York Federal Reserve President William Dudley said earlier in the day, "A continuing priority will be increasing data transparency to all market participants and to the public in a manner that supports, and does not harm, market liquidity and integrity."
Mnuchin also used Tuesday's speech to reiterate the Trump administration's goals to use tax and regulatory reform to drive economic growth of greater than 3 percent a year. The Treasury is reviewing regulations on community and small banks and capital markets, and has already moved to make it easier for companies to float stock in the public markets.
Tax reform will continue to be a central focus to encourage businesses to invest for growth, he said. Earlier on Tuesday the Senate Budget Committee moved a tax bill to the full floor for debate as GOP members of both houses of Congress work swiftly to get tax reform done this year.
"We are going to work every day to pass meaningful tax legislation," he said.