Arthur Hayes: If the MOVE index breaks through 140, the Federal Reserve may resume water release

Arthur Hayes wrote that if investors want to predict when the Federal Reserve will resume easing, they should pay attention to the MOVE index of bond market volatility. When MOVE rises, traders who finance purchases of US Treasuries or corporate bonds will face higher margin requirements and be forced to position squaring. He said that once MOVE breaks through 140, the Federal Reserve may intervene in the market.