The US Fed has overseen what has been, in effect, the biggest quantitative easing programme the world has ever seen. But that has now ended. And it says US bond interest rates, which are still near enough zero for all practical purposes must rise. Not just by a bit, either. They are apparently forecasting 1.5% by the end of 2015, 2.75% by the end of 2016 and 3.75% by the end of 2017.
Oh dear. His linked source, at the FT, says that this is about the Federal Funds rate, not US bond interest rates.
Would sorta help if one committed to telling us all about this vital market actually knew the difference.