美债波动率或创2009年以来最大年度降幅

Core Insights - The Federal Reserve's interest rate cuts have effectively reduced the risk of economic recession, leading to a significant decline in bond market volatility [1] - The ICE BofA MOVE Index, which measures expected volatility in the bond market, has dropped to approximately 59, marking the lowest level since October 2024 [1] - The index has decreased from around 99 at the end of 2024, potentially recording one of the largest annual declines since data began in 1988, second only to the crash in 2009 [1]