US Treasury Market Volatility Hits One-Year High as MOVE Index Surges

The MOVE index, which tracks US Treasury volatility, rose approximately 29.69% this week, marking its largest increase since April of last year. The surge follows a rise in bond yields to multi-decade highs, leading many traders to adopt a wait-and-see approach. Societe Generale's head of rates strategy stated they are maintaining a neutral stance on US interest rates until volatility subsides.