Friday's stunning reversal move in the Treasury complex was not something one would expect from the world's "deepest and most liquid" market, but was a page straight out of some momentum-chasing pennystock manipulator's playbook.
Commenting on the move, Bloomberg's market live reporter Sebastian Boyd writes that "in the future, looking back, it will be easy to miss how dramatic today’s bond turnaround has been. Two-year Treasuries are little-changed on the day. It’s only by looking at the rebound from the lows that one will be able to spot the size of the move."
