Hey, it's Kramer, and this is my morning take on the market from today's

CNBC Investing Club morning meeting.

I sense a bit of, let's say, tiredness on the part of many of the players, but it doesn't

matter because this bull market is not going to get tired.

And one of the reasons it isn't is that incredibly, the bond yields have actually dropped.

Isn't that surprising?

Especially after what happened Wednesday, you actually have the yields now lower on the week.

Shocking.

Of course, the Fed did cut rates as expected yesterday, 25 basis points.

I guess left the door open for December as well. But how about the idea? You can go by the housing companies again. You're not going to, a lot of people felt the mortgage rates were headed to eight. Now it doesn't look like it. I know that it's antithetical to what the budget deficit is. Like everyone's saying, listen, Trump, if he doesn't do the budget deficit, try to address it, it's just going to get out of control. Well, that's not an out-of-control bomber. It's just not. So it's sanguine at the same time. China stimulus, once again, not enough. Spoke to UNISU from CNBC's over there. It's one of these things where they have to put money in people's hands and they haven't done it. No, they absolutely have to. That's part of the reason why a lot of consumer-related

China stocks rallied so big a couple, like a month ago, a little more than that. I still think

the Alibaba, if you want to buy, you take the discount and you buy it. Yeah. We certainly, we've

exited a lot of our direct China consumer related stocks,

whether it's Estee Lauder, Wynn, still have Procter and Gamble to a smaller degree.

We had to.

Yeah.

We avoided the beating.

Yeah.

We've learned.

We learned from Winn not to hang out of Proctor. We did make a trade today and it's one of our popular trades of this week in terms

of we've, it's our third time doing it, selling more Honeywell.

Yeah, perfect.

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