The ICE BofA MOVE Index, a gauge of U.S. bond-market volatility, rose about 29.69% this week as Treasury yields climbed to multi-decade highs. It was the index’s largest weekly increase since April’s so-called Liberation Day, when Trump’s broad import tariffs triggered turmoil across global markets. The index has also reached its highest level since March, when the Iran war had just begun. With market swings intensifying, many traders have opted to stay on the sidelines. Adam Kurpiel, head of rates strategy at Societe Generale, said his team has a neutral view on U.S. interest rates and is waiting for volatility to decline before trading.