The ICE BofA MOVE index, a measure of U.S. Treasury volatility, climbed about
29.69% this week — its largest weekly rise since April last year — after
Treasury yields pushed to multi-decade highs, ending a recent lull. The index is
at its highest level since March, when the Iran conflict began. With volatility
elevated, many traders are sitting on the sidelines; SOCGEN rate strategist Adam
Kurpiel says his team is neutral on U.S. rates and will wait for volatility to
ease before trading.
