Ordinarily I don’t go searching for online photos of posed cats.  Neither do I condone violence, as a general rule.  But when you have four outspoken Fed Board members giving speeches at the same time with three differing opinions about how and when to raise interest rates, it gets pretty exciting.

Bonds by nature are a conservative investment, so they are quick to raise the white surrender flag at the faintest hint of trouble.  And trouble is what two of the contenders were slinging this morning.  The “inflation” word was used as a cautioning omen, as well as the blanket statement that Fed has met its precursory goals ahead of normalizing rates.  Chair Janet Yellen stated that the current economic conditions do support the forecasted three hikes this year.  The end result for the  week is that interest rates are up are their worst levels of the year…stay tuned; the fur could start flying.