I present the 6 month chart of the MOVE index below: obviously the spike in daily Treasury vol has not gone unnoticed: just yesterday MOVE had a 15% one day rise. As traders relish volatility and hate flatlines, is it possible that soon all the intraday action will migrate out of equities and go into treasuries?
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiNRvFPh3n5AgLBQrhMkvqQIZV2GzO43CWGdz7oxY2Vrb5-Ywgaud2O_TyOhr4Pe_JXWxoz-ZY4e0I04MtFLx7Ur0BnfH6Pi4Wmcpq7wgSHnhsURJuQ1s2kHCCbH7naRDzDvYR7XulCzrg/s400/MOVE+Index.jpg)
An interesting overlay is that of MOVE with the VIX. Curiously while the two have historically correlated with a decently high R, the action over the past 2 weeks is a very distinct outlier. Could there be something more here than simple inflation/China fears? Zero Hedge will inquire further.
VIX - MOVE correlation chart:
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg6tZwcJILz5_yXeU86zTYBfZseGOei3jjdv_l0gl8AUdu_hPivLaudW2YImZg57TrJ9i-tUZqLPnGwIN2T5WFZut11OT2WeVHdLU4BvATKseDubT_QL9s926Zvhx8P89ydOgEa32RZPeo/s400/VIX-MOVE.jpg)