The collapse in Treasury bonds now ranks among the worst market crashes in history

The bond-market sell-off that's sending yields soaring is starting to eclipse some of the most extreme market meltdowns of past eras.

Bloomberg reported losses on Treasury bond with maturities of 10 years or more had notched 46% since March 2020, while the 30-year bond had plunged 53%.

Those losses are nearly in line with stock-market losses seen during the worst crashes of recent history — when equities slumped 49% after the dot-com bubble burst and 57% in the aftermath of 2008.