(Bloomberg) — Amid the wreckage of the great bond-market bust of 2022, there is a silver lining for some: Traders in the trenches of the $24 trillion Treasury market say it’s finally exciting again.
This turn of events follows years of markets being lulled to sleep by central bankers doing whatever it took to suppress interest rates, in part to — get this — keep inflation from falling too low. While the excitement may not rival the likes of crypto or meme stocks, it’s enough to make trading government debt a lot more interesting. This year, with the Federal Reserve and global policy makers aggressively lifting rates to rein in consumer prices, many fixed-income professionals have been confronted with the wildest volatility of their careers.
