New analysis highlights just how unusual the surge in trading of US Treasuries was last month, just a minute before the release of closely watched inflation data.
The trading volume for 10-year Treasury note futures during the 60 seconds before the Dec. 13 release of November’s consumer price index was more than three times greater than in any minute immediately preceding the release of the prior 24 CPI reports, according to David Wilcox, director of US economic research at Bloomberg Economics. That’s a stretch that goes back to late 2020.
Price movements in those contracts were similarly extreme, more than three times as great as they had been in the corresponding 60 seconds before the last 24 reports.
Source: Market-Trading Surge Before US CPI Inflation Report Was ‘Extremely Unusual’ – Bloomberg
