Chlorine bleach degrades
very rapidly upon exposure to oxygen. It's an unstable oxidizer. That's why even for industrial purposes, you likely won't see it in a solution stronger than 15%... it breaks down so fast that to mix it any stronger would just be a waste. (plus the fact that at higher concentrations it will burn your flesh just about as severely as battery acid... don't ask me how I know)
Knowing all of this is actually sort of helpful when your tapwater is so heavily-treated that you can smell the bleach in it :barf: ... whenever practical, I fill jugs/carboys with it and leave them open for a day to let the chlorine dissipate before putting it in/on my garden.
Also, if you want to age/pit/patina a carbon steel blade real quick, just let it soak in a jar of common household bleach for a couple hours. Some makers guard this technique as a super-duper top-secret kinda thing, and charge extra for it...