Market Extra: More trouble is brewing in the $24 trillion Treasury market: This time, it’s about cen

Stefani Reynolds/Agence France-Presse/Getty ImagesEfforts to reduce risks within the nearly $24 trillion U.S. Treasury market, the world’s deepest and most liquid securities market, are ironically creating angst among market players. The anxiety is centered on the concept of central clearing, a method used to reduce and manage risks in financial markets. In September, the Securities and Exchange Commission proposed rules that would mandate the central clearing of a large swath of Treasury...