Liquidity events becoming more common, buy-siders claim

US Treasury market has seen eight intraday moves exceeding five standard deviations since 2012

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Drops in the ocean? Some claim large liquidity events are becoming more frequent

Ask any asset manager about liquidity in the rates market and the conversation will, sooner or later, turn to the sudden melt-up in Treasury yields on October 15, 2014.

"There have only been a couple of times that I've seen anything remotely close to it," says Lundy Wright, a partner and portfolio manager for interest rate strategy at Weiss Multi-Strategy Advisers, a hedge fund in New York (Risk December 2014).

No less than five US regulatory agencies, including the Federal Reserve Board and

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