And traders thought October, 2014, was ugly.
Last fall, fixed-income specialists watched in horror as the market gyrated wildly, sending bond yields plummeting. Benchmark issues fell 20 basis points in a matter of days, only to rebound by roughly the same amount. It all transpired in a couple of weeks, and for a market that would typically fret over a 10-basis point move, this was far too much to take. (A basis point is 1/100th of a percentage point.)Report Typo/Error