The volume in the short end of the curve was triple the long end yesterday into today.

The 2-yr. Notes and the Eurodollars had the big volume signaling the world now is starting to believe the Fed will get off its duff and move.

You can see the effect on the currencies as the Dollar strengthens from the expected

interest rate differential.

Gold has topped with this expectation. Closing under 1238 will lead to more profit taking.

Oil.. is sideways to lower. If it couldn’t go bid with one of the biggest up days in memory in the Equities, it’s total garbage.

Yra likes to say that money is fascist, it finds the highest rate of return.

Mid-Week Shuffle stuff…

USD/JPY is trading at its 50 DMA. It’s not a place to press direction. Yen needs a couple of days through this level for a move into the 116’s.

Follow the short end of the curve, which my friend TLP has in a stranglehold.

He’s been Long Eurodollar puts out a Year for 6 months.