So it seems the fed funds rate won't stay at 0% for eternity. Presumably, most people in the investment business knew that the Federal Reserve would start to take its foot off the gas eventually and slow massive monetary accommodation. So we are surprised the markets did not see this coming. Is it possible to look at the monthly economic and inflation statistics, but then ignore everything and wait until the Federal Reserve serves up news on a platter prior to announcing any change in policy? In our opinion, even the short end of the yield curve missed this, as there has been very little upward pressure on short yields.