3 Bond Volatility Charts That Matter

The bond volatility crash

US 10 year is actually slightly higher than before initial claims yesterday, having bounced on the huge 4% level. Bond volatility on the other hand, puked to new recent lows. MOVE has not traded this low since early 2022.

Source: LSEG Workspace

 

SPX loves it

SPX loves falling bond volatility. Chart shows SPX vs MOVE (inverted).

Source: LSEG Workspace

 

Kill volatility

VIX hovering around recent lows, while the MOVE crash is really outstanding.

Source: LSEG Workspace