Markets are all about timing
Don’t let anybody ever tell you that there is no point timing the market – most returns in retail portfolios completely depend on it.
The chart above is 100 minus the implied short term federal funds rate in percentage for December 2010. For June 2009, this is currently 99.795. December 2010 is currently 98.27, implying a rate of 1.73%. This is now an optimistic scenario.
Earlier I scaled out of the position, and I have a snippet of exposure which I plan to trim by the end of summer.