Well it was a pretty good day for those of us that were short in the currency markets yesterday. However, we have been waiting for this since the last fed meeting. Our recommendation to hold Euro puts yesterday going into the meeting has paid off and we used the weakness to make some adjustments. We are now holding December put options and are out of long November puts. I still think that the Euro heads lower but it may take a bit of time. If I am correct, one can probably expect to see a weaker bond market. I have been looking for lower bond prices for over a month now and we used the fed news to roll our losing put options up a few strikes. This looks like a wise move as of the time I am writing this post. Stay short bonds and the Euro.