When Bond Volatility Is On The Move

The MOVE index is a gauge of investor uncertainty on US Treasury markets, based on expectations of US yield-curve movements over the coming weeks. The MOVE index is to bonds what the VIX index is to stocks. And these yields have been particularly volatile over the past 12 months. The MOVE index is flirting with levels typically seen during crisis, such as the Asian financial crisis, the bursting of the dot-com bubble, the 2008 Great Financial Crisis or the COVID pandemic.