(Bloomberg) -- Losses on longer-dated Treasuries are beginning to rival some of the most notorious market meltdowns in US history. That’s just shy of the 49% plunge in US stocks in the aftermath of the dot-com bust at the turn of the century. The rout in 30-year bonds has been even worse, tumbling 53%, nearing the 57% slump in equities during the depths of the financial crisis. “It’s quite something,” said Thomas di Galoma, co-head of global rates trading at BTIG and a four-decade market veteran. It’s kind of like defying gravity here.”Most Read from Bloomberg Businessweek©2023 Bloomberg L.P.
