You might recall that only a month ago a very disappointing employment report (only 38,000 new jobs) removed all expectations that the Fed might raise interest rates in the near future. The feared Brexit, which fueled the fears of an imminent recession, encouraged the pundits who declared there would be no rate hikes before mid-2017. Now we have received the June Employment Report showing a whopping increase of 287,000 jobs last month! Adding that news to the realization that the Brexit is behind us and that the short-term impacts apparently will be minimal, you can be assured that the Fed "Hawks" will be back on the road beating the drum for another rate hike right away. STUCK IN A TRADING

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