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Sun rises to the east of the U.S. Federal Reserve building in Washington

Who needs the Fed? The rate hike cometh on its own

Reuters As traders, market pundits and economists jaw over whether the Federal Reserve this year will lift its benchmark lending rate for the first time in almost a decade, several corners of the U.S. bond market are not waiting around. A wide range of short-term interest rates, which tend to be the most sensitive to Fed policy expectations, has been quietly grinding higher for weeks, or in some …