(Bloomberg) For investors scrambling to keep pace with a hawkish shift in the world’s biggest central banks, the second half of 2017 just got a lot more interesting.
Two weeks of rhetoric from policy makers in Europe and North America has rewritten the outlook for markets, with the Bank of England and the Bank of Canada now seen as more likely than not to join the Federal Reserve in raising rates before the year is out, based on overnight index swap rates. Even the possibility of a European Central Bank hike, once seen as all but impossible, is slowly growing.
