The Christmas shortened week was filled with a few sluggish surprises and a slight increase in bond yields. The 2 year UST note traded back above 1% while the longer end of the curve dropped back below 3%, thus a modest flattening of the yield curve. The final revision to 3rd Qtr GDP was as expected at 2%, personal spending was mildly soft, durable goods orders fell a little, and PCI inflation rose .1% in November. Not much to get anyone excited. Most eyes are now on the new year and what lies ahead for the Fed and monetary policy. Oil has bounced off recent lows while commodity prices, in general, remain depressed. It is hard to visualized 4th Qtr economic growth accelerating much above 2% and the 1st Qtr of 2016 doing much better. Not much more to expect from the financial markets this year as most traders will be sitting at home awaiting the new year. 2016 will be upon us in a few days with new and exciting prospects for trying to figure out the future.