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By Gillian Tett
Published: February 18 2010 16:26 | Last updated: February 18 2010 16:26
Could the Obama administration's plans to curb "proprietary trading" produce a nasty jolt for the US Treasuries market? If Bob Diamond, head of Barclays Capital, is to be believed, there is a risk it might.
Last month, Paul Volcker, a key Obama adviser, startled Wall Street by warning that the US government was keen to curb how deposit-taking institutions make proprietary bets. Exactly what Congress will end up defining as "proprietary trading" is still very unclear; so, is the precise list of banks that would be caught within that net.
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