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This market got the davishness it wanted to hear. The equity market's positive by

close to 2% on the S&P 500 on the NASDAQ 100 up by 3.3. We're moving closer

to cutting interest rates. September could well be on the table. Push that through the

bond market a fifth consecutive day of gains for the 10-year treasury. Yield to lower. We're down by

four basis points on a 10-year. It's a break of 4.1%.

So we've all got the same question,

just how low is the bar for a rate cut in September?

This is what the chairman had to say.

The question will be, whether the totality of the data, the evolving outlook, and the balance of risks are consistent with rising confidence on inflation and maintaining a solid labor market.

If that test is met, a reduction in our policy rate could be on the table as soon as the next meeting in September.

So let's talk about the calendar.

The next meeting, September 18th, the date are in between. the calendar

data in between August 2nd this coming Friday payrolls August 14th

a CPI report September 6th the jobs report on the 11th

...