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Treasuries are not responding, more just....>

US TSYS
US TSYS: Treasuries are not responding, more just watching, at this moment, as
House Ways & Means panel head Brady said he's confident that the Senate will
come through on the tax bill. Traders are watching the Powell confirmation
hearing. 
- But also just as important, traders are also watching for any headlines out of
the third annual conference on the "Structure of the US Treasury Market." Some
fear that if TRACE for Treasuries makes certain trading flows data public, that
could hamper trading in the off-the-run Tsys, which are much less liquid than
the on-the-runs. "It will enable some of these algo type players to look at
TRACE flow reports and front-run the hedging" that would be done in the
off-the-runs, said one observer.

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