Hello, fellow rebel capitals, hope you're well.

So we've got big news and consumer data today.

And of course, the Fed comes out and makes their big announcement on interest rates tomorrow.

They're going to have their FOMC meeting.

And just a ton of stuff going on right now.

Obviously, you know what's going on between Iran and Israel.

I'm not a geopolitical expert by any stretch of the imagination.

So I'll leave that up to you guys to get your own news on that.

But I want to make sure that we're also remembering what's happening to the American economy.

So let's go straight into the Market Watch calendar because most of you probably don't know

that we had retail sales come out today. And to say that it was disappointing is a massive

understatement. And they're blaming the collapse and yields,

especially the tenure along into the curve, on tensions in the Middle East. I don't think so.

I think it has much more to do with retail sales and this consumer data just completely tanking.

So let's get into it.

And then also let's try to think about how this pertains to the next GDP print,

which will really impact the Fed's rate decisions over the next, let's say, six months or so.

All right, let's start with the market watch and we'll go back here to the calendar. So here, we got a bunch of data today.

And you can see that the retail sales have been plummeting and the trend is horrible.

And last month was 0.

Negative 0.1%.

They're expecting a negative 0.6%.

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