Fed Dec rate hike: US Treasury mkt says 'yes' & “A lot of the USD move baked in the cake”

Treasury volatility is at its lowest level of 2015, with FX volatility now below its 10-year average

• The Bank of America Merrill Lynch MOVE Index measures price swings in US debt, fell to its lowest since December 26, 2014
• JPMorgan's Global FX Volatility Index at 10.12 compares with the average of 10.42 for the 10 years

Signs, say this Bloomberg piece, that a Federal Reserve December rate hike is the growing consensus

"The market has done a very good job of anticipating price movements," said Brendan Murphy, a senior money manager in Boston at Standish Mellon Asset Management Co. ... "A lot of the dollar move is baked in the cake."