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Bond Market Volatility Plummets to Lowest Since 2008

12/30/2025

50 7 Full Breakdown

Summary

Story summary

Bond-market volatility is set for the largest annual decline since the 2008 financial crisis, driven by the Fed's rate cuts.
The ICE BofA MOVE Index fell to about 59, the lowest since October 2021, from around 99 at end-2024.
The decline followed a spike in April caused by tariffs from U.S. President Donald Trump.
Analysts expect low volatility to continue into the new year, though January may bring surprises.

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Story summary

Bond-market volatility is set for the largest annual decline since the 2008 financial crisis, driven by the Fed's rate cuts.
The ICE BofA MOVE Index fell to about 59, the lowest since October 2021, from around 99 at end-2024.
The decline followed a spike in April caused by tariffs from U.S. President Donald Trump.
Analysts expect low volatility to continue into the new year, though January may bring surprises.