Fear and Greed Paralyze Markets as Traders Seek Next Trigger
- Global assets ‘continue to range nervously:’ Oanda’s Halley
- Treasuries’ volatility near record low, German bonds whipsawed
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Global markets are in limbo, with traders juggling their optimism for a vaccine and concern over a virus that’s still spreading.
The push and pull between fear over the impact of fresh lockdowns and greed for cheap valuations has cornered some assets into a range and subdued volatility. The ICE BofA MOVE index, a gauge of price swings in the $20 trillion Treasury market, is languishing near record lows after spiking to the highest since April. German 10-year bonds, widely considered among the safest assets in Europe, have whipsawed between gains and losses all week.