For deposit-takers and lenders, interest rate risk is as old as the hills, but the past few years have presented a new problem – the tipping point that is always in sight, but never arrives. It has been a particular problem in the US, where the first signs of economic recovery had analysts and economists warning about rising rates up to three years ago.
"The market... believes that both the federal funds rate and the yield on the 10-year Treasury bond will increase," says one research note from
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