Hawkish Fed minutes leads to renewed sell-off in Treasuries

Minutes from the Fed's November meeting said it would be appropriate to raise rates "relatively soon" reinforcing the case for a rate hike next month. A tool created by CME Group named FedWatch started to predict a 100.2% chance of a December increase in rates, but this was soon to be found as a glitch and odds were corrected to 93.5%, with a 0.25bp rise expected. As a result of the hawkish tone of the Federal Open Market Committee, the US dollar surged to its highest level since March 2003. Reuters reported the dollar index rose 0.6% to 101.67, after earlier soaring to an almost 14-y...