Reuters
The U.S. Securities and Exchange Commission (SEC) is next week expected to vote to adopt a major rule forcing more trading of U.S. Treasuries through clearing houses, in a long-anticipated move aimed at boosting the resilience of the market. It's part of a broader push by regulators to fix structural problems that have increased volatility and created liquidity crunches in the $25 trillion Treasuries market. Most notably, Treasury market liquidity all but evaporated in March 2020 as COVID-19 pandemic fears gripped investors, prompting the Federal Reserve to prop up the market, although other crunches in recent years have also fueled regulators' concerns.