It’s tempting to dismiss these market moves as academic.
But they really matter, because they feed into the interest rates we all experience.
This morning traders were pricing in 5.1% BoE interest rates next May.
That’s now gone up above 5.25%.
All in the space of an hour or so. pic.twitter.com/79psh2Vrhg

— Ed Conway (@EdConwaySky) October 21, 2022