A long time ago in a financial system far far away....the future forward term structure of interest rates was represented by strips of Eurodollars. After the great disruption and the exposing of several attempted manipulations of the product, Central Banks no longer trusted the financial citizens with the great innovation.
Quietly, the rebel forces continued to monitor the once proud metric for signs of stirring. The Central Bank voices spoke often and loud to keep the Eurodollar under house arrest. The sentence was years with possible change for good data. Many are already planning revolt in the 2015 to 2017 years. This relationship should track curve shape in the 1 to 3 year sector and push at the Fed's resolve under good data. Debt Ceiling Wars and continued Overlord suppression will not pressure it heavily. The dark forces of negative rates could damage it.
Financial repression is a choice...the revolution starts here.