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Brevan Howard, an $11 billion hedge fund, is betting on volatility in the world's most important market

Brevan Howard, the hedge fund run by billionaire Alan Howard, is launching a new fund to bet on an increase in volatility in the US government bond market.

Brevan Howard, the London-based hedge fund run by billionaire Alan Howard, is launching a new fund to bet on an increase in volatility in the US Treasury market.

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The fund, called the Brevan Howard CMS Curve Cap Master Fund, will be led by senior trader Rishi Shah, who has been with the firm since 2010 in Geneva and New York, according to documents seen by Business Insider.

The new fund will use what are called c

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