Traders brought forward wagers for interest-rate hikes from the European Central Bank after President Christine Lagarde said risks to the inflation outlook were tilted to the upside. Money markets are betting the ECB will deliver a total of 40 basis points of hikes through December, compared with 25 basis points before the decision. Short-dated German bonds fell as investors recalibrated their expectations, with the five-year yield rising 15 basis points to 0.03%, the highest level since 2018. The ECB held its key rate at minus 0.5% on Thursday, even after data earlier this week showed consumer prices in January rose ... (full story)