I have replaced much of my bond allocation with CD's. I buy brokered CD's through Schwab. As recently as Nov. 15 one could get 3.55% for five years. Today to get that same 3.55% one would have to go out 10 years! Shorter term certificates are also significantly lower. I am aware that since Nov. 15 the Fed RAISED rates by .25% and hinted at a change of policy going forward. I am wondering if Banks are sensing a lower demand for loans going forward and thus are not so eager to take money in? In other words might there be a greater significance than just a dip in rates? Could it imply a decline in economic action going forward? After all,,, to a bank in the business of lending, deposits are inventory. They seem like they are way less inclined to increase their inventory.