They’ll prove right one day, just not yet.

Hedge funds continue to bet that the Federal Reserve will end its aggressive rate-hike cycle soon enough and begin easing monetary policy after a brief pause as growth and inflation slow.

But as US inflation, inflation expectations and Fed officials are suggesting, that turning point is still a long way off – the Fed’s terminal implied rate shot to a new high of just under 5.00 percent last week, and the two-year Treasury yield hit a 15-year high Above…

Read more at www.theglobeandmail.com