Treasuries Least Volatile Since Beatles Era as Traders Let It Be
- Ten-year yields traded this year in tightest range since 1965
- Short-dated option skews in swaps flatten, gamma tapers away
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U.S. bond markets haven’t looked this dopey since the days of Beatlemania.
Ten-year Treasury yields have traded this year in the narrowest range since 1965 -- the year the group had its No. 1 hits such as “Yesterday” and “Help!” -- as the reflation euphoria set off by Donald Trump’s election lost steam and the U.S. Federal Reserve achieved its interest-rate guidance.