Fast and furious - NewsBreak

It took two weeks for UK money markets to go from expecting no interest rate rises this year to betting on a cumulative 35 basis-point moves in November and December. But such bets are proliferating almost everywhere, rate-sensitive short-dated bond yields are rising and bond curves are flattening -- the U.S. 2-10 curve for instance has flattened 12 bps in a week.