Another large wave of selling hit the market on Wednesday, with yields rising by more than a half percentage point on the long end, amid defensive bidding reminiscent of the mid-March sell-off.
March’s volatility has led to some of the widest price swings the market has seen since benchmark data was created and it continues as the second quarter begins.
Large block trades were showing massive swings in yield and AAA benchmark yields on various scales rose by 40 to 50 basis points from 10 years and out while the short end wasn’t spared either, seeing cuts of 16 to 35 inside 10 years.
(Read more: The Bond Buyer)
