Bond market sees no end to worst turbulence since credit crash of 2007

For bond traders, the upward drift of Treasury yields hasn’t been that hard to predict. It’s the short-term swings that are vexing.

The world’s largest bond market is being whipsawed by its longest stretch of sustained volatility since the onset of the financial crisis in 2007, marking a stark break with the stability seen during the long era of historically low interest rates. And the uncertainty that’s driving it doesn’t appear set to fade anytime soon: inflation is still running at a four-decade high, the Federal Reserve is raising interest rates aggressively, and Wall Street is struggling to gauge how well