The troubles of Silicon Valley Bank, Silvergate Capital, Credit Suisse, an ongoing lack of confidence in European banks, and First Republic Bank have resulted in extreme volatility in Short dated Interest rates, Banks, and Financials.
The sharp rise in fixed-income volatility has not happened to FX, Commodity, and Equity volatility.
We saw record one-day moves in 3-month SOFR futures, and 2-Year Treasury yields dropped the most since 2008.
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