A measure of US bond-market volatility is heading for its biggest annual decline since the wake of the financial crisis with the Federal Reserve’s interest-rate cuts dampening risks of an economic downturn. The ICE BofA MOVE Index, a gauge of expected bond-market volatility, fell to about 59 Friday, the lowest level since October 2021. The index has fallen from around 99 at the end of 2024 and is on course for one of the steepest annual declines since data began in 1988, surpassed only by the 2009 slump. ...