Having drifted flat for weeks at around a 1-in-3 chance - despite endless jawboning from The Fed - March rate hike odds have suddenly surged higher today (to up to a 50% probability).

Dallas Fed's Kaplan said this morning that a rate increase should happen sooner than later, adding that "[The Fed] wants to prevent a situation where we fall behind the curve." As Reuters notes this is entirely consistent with his and colleagues' recent comments, but somehow strikes a chord on otherwise uneventful day.

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It seems the Fed Funds futures market suddenly decided to cvatch up to stocks?

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Heavy volume...

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Did someone get the nod today? Another Fed leak?