Short-Term Interest Rates About To Rise?

I usually look at the CoT data for gold and silver, but once in a while going forward I’ll throw up a view of some other random market.

The 2 year T Note is interesting in that it has tended to rally when the Commercial entities are net long and the Large Spec’s are net short. Today, the opposite condition is in play and yet the 2 Year has spiked of late but is still below its line of declining short-term tops.

It looks like the odds are very good that we are going to get a pop in short-term interest rates (which go in the other direction from T Notes) soon.  People might want to consider that when working other markets.