The volatility of US Treasury bonds hits the highest level since Liberation Day, causing market concerns about the US fiscal situation and uncertainty about non-farm payrolls.

Due to uncertainty in the US government's financial situation and market concerns that Friday's nonfarm payroll data could impact the bet on a Fed rate cut, volatility in the US bond market has intensified. According to an indicator from the Intercontinental Exchange, the implied volatility of US Treasury bonds for one month has surged by 12.12 points over the past three days, marking the largest consecutive increase since April 2nd when Trump announced tariffs on "liberation day".