(Capital Trading Group) The mistakes of the past will not be rectified via further mistakes in policy and in order to purge the leverage and the incessant risk chasing that has become pervasive throughout our financial markets, interest rates should and must rise. We have said it for years now that the Fed Funds must rise to meet US Gov’t 10-year yields in order to stem excessive speculation. One thing we did agree upon was the fact that the FED missed its hawkish chance in the early 2000s which lead to the housing crisis, but now, we would rather see the Fed Funds rise toward that 10-year rate and we think it will get there in Q1.