Well it just wouldn’t be winter without a nice hearty piece of Interest Rate Pie. So I met with Aunt Bessie and persuaded her to reveal her recipe. I promised not to reveal the ingredients but ultimately decided it was a secret that just shouldn’t be kept. So here it goes …
Back in late August the Fed whispered to the markets that they were considering purchasing 600 Billion in US Treasuries. Shortly thereafter, interest rates reached the lowest levels in decades… then suddenly rates started moving higher about the first week of November.


