Sharp US bond selloff revives flashbacks of COVID-era dash-for-cash
Margin calls, need for liquidity exacerbate bond selloff Unwinding of basis trade reminds investors of 2020 market crash Swap spreads tighten sharply, signaling selling pressure By Davide Barbuscia and Gertrude Chavez-Dreyfuss NEW YORK, – A violent U.S. Treasury selloff, evoking the COVID-era “dash for cash,” has reignited fears of fragility in the world’s biggest bond…