U.S. T-Bill Yield 91-Day (Fri. close 5.06 percent)

As expected, we have now pushed through 5 percent on the T-Bill and we appear to be retracing to test this level before moving on upward. No cessation in the powerful intermediate term momentum on the upside. It's hard for me to picture a pause in fed fund rate hikes as is generally anticipated. My work suggests that rate hikes should continue unabated.