Too Calm? Bond Volatility Dead While Gov’t Shutdown Risk Builds

The 10 year

Noteworthy is that despite the 10 year higher over the past sessions, bond volatility, MOVE, has remained depressed. The 10 year is still trading inside the short term negative trend channel, but a close above the 4.2% area and things could get squeezy to the upside. MOVE at these levels is pricing a lot of "perfection"...