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Indicator

MOVE indexMOVE

The bond market’s version of the VIX: an estimate of how far US Treasury yields are expected to move, built from options on Treasuries.

Why we track it

Rate volatility usually stirs before credit and equity volatility, so an elevated reading is an early warning while other gauges still read calm.

10-year Treasury yieldThe yearly return on a ten-year US government bond bought today and held to the end.
2-year Treasury yieldThe yearly return on a two-year US government bond.
30-year Treasury yieldThe yearly return on a thirty-year US government bond, the longest maturity the Treasury issues.
Buffett indicatorThe total market value of US nonfinancial company shares divided by the size of the economy (GDP).
CCC credit spreadThe extra yield investors demand to hold bonds rated CCC and below, the riskiest tier of the junk-bond market, over comparable Treasuries (ICE BofA US CCC & Lower option-adjusted spread).
Consumer price index (CPI)The Bureau of Labor Statistics' measure of the prices urban households pay for a basket of goods and services.