US report finds ‘no single cause’ of October 15 volatility in Treasury market
Staff from five bodies analyse data from unusual bout of volatility
The infamous bout of volatility in the US Treasury market on October 15, 2014, had "no single cause", according to an eagerly awaited report from US officials.
Staff members at the US Treasury, Federal Reserve Board of Governors, Federal Reserve Bank of New York, US Securities and Exchange Commission and US Commodity Futures Trading Commission assessed the "very rapid round-trip in prices" in the market in the report.
The yield on the benchmark 10-year Treasury security "experienced a 37-basis
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