(Bloomberg) — A steady march higher in markets was snapped by a stretch of jarring volatility as traders gave hints there’s a limit to their appetite for hot economic data.
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While a Friday rally in equities spared cross-asset investors their worst week since 2022, it capped a series of extreme market moves. Stocks and bonds staged their worst synchronized drop of the year on Monday and Tuesday, while Thursday saw the biggest reversal of an S&P 500 rally since August. An exchange-traded fund tracking long-dated Treasuries suffered its worst week since October as 10-year yields reached the highest in more than four months.
Rather than recession anxiety, the culprit was robust reports on job openings and factory…
