Massive Instability in Bonds/The Monetary System
The rapid failure of SIVB and the forced merger of Credit Suisse sent the world’s debt markets into a very unstable place. Investors scrambled for the safety of short duration Treasury Bonds and as you can see in the following chart the move in the US Government 2 year was as extreme as it has been during the 2008 Lehman Crisis, the 911 Attacks and the 1987 collapse on Black Monday.