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increase in VaR to a multi-decade high. returns. Credit spreads widened. Volatility increased. Rising VaR may have led to a lack of demand for German sovereign bonds in late ... bond VaR rose unintended consequences of regulatory restrictions. Note, for to a multi-decade. Rising VaR may have been linked to a lack example. Value-at-Risk (VaR) limits. These ... demand and a sharp Increase In yields. by trading desks and various institutional investors. Rising VaR ' Mmiit 8o,. as, ;near:icy. Boni Otirtypw lit, total rgurn. 1110Yo