so its done the tripple top thingy and ready, page-13

anyone notice the GOFO rate action over the last few days

date 1 month 2 month 3 month 6 month 12 month
09-Sep-11 0.48500 0.49250 0.50000 0.52500 0.53750
12-Sep-11 0.61800 0.62200 0.62400 0.61200 0.61850
13-Sep-11 0.69500 0.69667 0.69667 0.65833 0.62500

Note how the 1 month GOFO has exceeded the 12 month!!!!

It of course has coincided with 11 September (fear????)

but it hasn't reversed either.

is this a sign of backwardation on the horizon???? If everyone is piling into short term GOFO and ask for delivery then that would palce short term pressure on physical. We might be witnessing a spike (parabolic???) in the next month or three.

GC