‘Monster’ rally shows junk index isn’t what it was

Speed of recovery reflects structural and technical changes in US high yield

At the end of June, bond markets were flashing red. The Ice BofA Move Index, which measures volatility in bond markets, had shot up 53% since the start of the year. Stubborn inflation readings, weakening consumer sentiment, Russia’s invasion of Ukraine and rocketing commodity prices all weighed on the US economy. A widely used Treasury market indicator was pointing towards recession.

Predictably, one of the US’s riskiest asset classes bore the brunt of the panic as investors dashed for the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: