It’s starting to feel like the world’s biggest bond market will never be exciting again.
That’s an exaggeration, of course, but only slightly. Benchmark 10-year Treasury yields did fall to 2.58 percent on Friday, the lowest since January, only to climb back within their well-defined range. A few weeks ago, I asked if bond volatility was too quiet, given that Bank of America Corp.’s MOVE Index, which tracks price swings on U.S. Treasury options, was near the lowest since 1988. Turns out it wasn’t — the gauge fell to almost the exact same level last week.