Mr Duy and Mr Toad’s ride … Whew!

The drop on the 10yr below the YTD trendline is material, imho

Mr Duy comments on employment with 6 points; here is #6: quote – “6.) Still, there is a risk the Fed holds steady. In June, the Fed clearly signaled a rate cut in July. In July, we don’t have such a strong signal for September. It’s not in the bag. Things that I don’t think the Fed has come to terms with yet: 1.)  if they want higher interest rates in the future, they need to keep rates lower now and 2.) the whole idea of getting rates well above 2% in a world where the major economies can’t hold 0% is just not going to work.”

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