Market Insider

Abnormal bond market move signals bears capitulating

A wild and historic move in the Treasury market Wednesday stunned traders and signaled capitulation by some investors who have been clinging to bearish positions.

The dramatic buying and big swing in rates coincided with a swift downdraft in stocks and was blamed on a combination of factors.

The weakness in Europe, worries Greece would exit its bailout, the possible breakdown of the AbbVie-Shire merger, Ebola concerns, and weak U.S. retail sales data were all cited as factors for the jump in bond prices and slide in yields.