“Higher Rates Are Coming To Town”

Oh dear lord. This is what passes for humor on the sellside (from Wells Fargo's Nathaniel Rosenbaum): Higher Rates Are Coming to Town Bonds better watch out PMs better not cry spreads won’t be taut I'm telling you why higher rates are coming to town Yellen’s shaking her head And raising rates thrice; hedging oil this year ain’t gonna suffice higher rates are coming to town She sees which traders bleeding a basis point they can’t make They say Sales is always sleepi