Treasury Yield Volatility Surges to 3-Year High as Rates Rise

30-year Treasury yield shifted 13 basis points a day over last 5 days, highest in 3 years. Reflects volatility as yields rise to over 5%.

Large swings pose challenge for investors reckoning with highest yield levels in over a decade.

Demand for haven assets drove steep yield declines last week amid Middle East war threat.

Longer-dated Treasuries down 11% YTD after being up 8.6% in early April. Increased anxiety about sustained tight Fed policy.

Daily yield moves rival pandemic-era volatility. Focus on supply/deficits adding to shifts on long end as front end pegged by Fed.