The Biggest Fight in Treasuries Pits Citadel Against Citigroup
- Dealers, high-speed traders submit letters on market structure
- Data dissemination is key question in U.S. officials' review
Citadel Investment Group LLC in Chicago.
Photographer: Tim Boyle/BloombergThis article is for subscribers only.
Forget bulls against bears: There’s a bigger fight in the world’s benchmark bond market, and it’s all about data.
In the past two months, the U.S. Treasury Department has received 51 letters from banks, traders, fund managers, trade groups and academics as part of its review of the structure of the $13.4 trillion market for the nation’s debt. All were jockeying to inform -- and often, influence -- regulators working out how to best supervise the market.