![Investors closely monitor the MOVE index amidst surge in US yields](https://cryptoslate.com/wp-content/themes/cryptoslate-2020/imgresize/timthumb.php?src=https://cryptoslate.com/wp-content/uploads/2023/01/macro.jpg&w=70&h=37&q=75)
Definition
The MOVE index tracks the movement in U.S. Treasury yield volatility.
Quick Take
- As yields continue to rise and approach 2022 highs, eyes will be on the Move Index to understand how the bond market functions.
- The Move Index is currently at 121, while the 2022 high was roughly 158 in September 2022, during the same period as the Liability Driven Investment fiasco in the UK.
- The 10-year treasury constant maturity minus the 2-year treasury constant maturity (T10Y2Y) is currently inverted at -0.86%, further than the three previous recessions; 2020, 2008, and 2000.
- Many investors take that as a sign that a recession is heading, roughly 12-18 months after the first inversion.
- While according to BofA Global Research, the fed might raise policy rates to 6%.
![US Yields: (Source: Trading View)](https://cryptoslate.com/wp-content/uploads/2023/03/yields.jpg)