Yes, the Fed has spoken. Halloween came early and the sky was falling. I don't think the 10 Year T-Note Yield is going much higher. The Federal Reserve doesn't control the front end on the curve. The market does. I still remain bullish on bonds and-TLT. The above chart is still in a down trend channel. The CHOP is high (indicator under the chart), but is back in the shaded area below 61.8. Look, Friday was a good cop bad cop Fed speak mumbo jumbo gumbo. The markets don't have clear direction. So, I will think rates are going higher ONLY IF yields break the down trend channel to the upside. If the Fed does raise rates - this will most likely have very negative effects on all markets, especially foreign. I don't think they will. So don't panic. Follow your charts. They will know when. Right now I think rates head lower. Good luck to you. Don.