(Reuters photo)TOKYO/SYDNEY: Bond prices gyrated on Thursday with desperate investors dumping government bonds and hoarding cash in markets gripped by pandemic fears that have forced central banks to step up support for debt. As orders in markets have fallen to a trickle, market fluctuations have widened to unprecedented levels for many traders. There are not a lot of transactions, not a lot of deals and market makers are pricing very, very defensively. In some cases, market makers are pricing only by offers," said Su-Lin Ong, managing director at RBC Capital Markets in Sydney. Even in US bond market, the most liquid in the world, trading has become highly erratic.

Source: Bangkok Post March 19, 2020 07:18 UTC