A pack of Yellen wolves came out Friday. Two uttered hawkish comments even before Janet spoke. The words slipped by cry-wolf Janet were graded hawkish. She stated clearly (at least by her standards) that conditions for a hike were now in place.

Then she went off about how the next QE program of $2 trillion could be used “if necessary” and that “other assets” should be considered for purchase. This prompted a rally of the imagination.

Accordingly, Stanley (((“Dual Citizen”))) Fischer had to be called upon to talk the plays off the ledges yet again by stating a Sept. 21 hike was indeed in play. The market reversed hard, but then volume was shut down and the mystery bids appeared, resulting in only a modestly red day. That after four Yellen Wolfers cried once again. Next time, Stanley should bring a shotgun. Game theory here is very curious indeed.

The odds of a Sept. 21 FOMC rate hike did increase from 21% to 33%. The “market” is now giving 44.4% odds for a hike on Dec. 14 and 14.7% for two hikes. Precious metals do seem well correlated to the ebbs and flows of this rate hike prospect.

If the normal routine continues, next Friday we get the randomly generated job numbers. The vig on whether 100,000 waiters and bartenders lost or gained employment can be leaked ahead of time to the usual criminals. Those slingers can get their algos ready for a scalp. I don’t see how that is actionable for investors who are not part of the criminal class.