The Fed Funds futures market - mostly in a Fed-induced slumber because of the pledge to keep...

|By:, SA News Editor

The Fed Funds futures market - mostly in a Fed-induced slumber because of the pledge to keep rates at 0% through 2014's end - makes a big move down today and is now pricing in nearly 50 basis points of tightening by the end of 2013. The 2-year note rises to its highest level since August at 0.37%.