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Bond Volatility Soars in Tug-of-War Between Recession, Fed Risks

  • Treasury volatility is at highest since peak of 2020 turmoil
  • No “summer lull for volatility” in bonds, Pimco’s Browne says
The Marriner S. Eccles Federal Reserve building in Washington, D.C.
The Marriner S. Eccles Federal Reserve building in Washington, D.C.Photographer: Stefani Reynolds/Bloomberg
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Bond traders are getting no break from the wildest Treasury market in years. 

The MOVE gauge of volatility has surged to its highest since the Covid crash of March 2020 as investors navigate conflicting cross-currents in the economic outlook.