Bond traders primed for wild swings

Russia’s Feb 24 invasion of Ukraine began to rewrite the script for US bond yields, some of which earlier in the month had climbed to the highest levels in more than a year in anticipation of Federal Reserve (Fed) interest-rate hikes to curb inflation beginning this month.(File pic shows Fed building in Washington)

NEW YORK: After a tumultuous week of big yield swings and heightened volatility in the US Treasury market, investors are bracing for another hot inflation report, while the war in Ukraine increasingly casts a pall over Europe and the global economy.

Russia’s Feb 24 invasion of Ukraine began to rewrite the script for US bond yields, some of which earlier in the month had climbed to the highest levels in more than a year in anticipation of Federal Reserve (Fed) interest-rate hikes to curb inflation beginning this month.