There's no September here as interest rates continue to plunge. The two-year UST is at a record low relative to the Fed. In the past when the two-year has dropped like this it has meant nothing good. Combined with the still ongoing crash in energy prices, we have a solid sense of what's coming next. And it isn't just a lot of rate cuts.
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Bloomberg S&P 500 Rally Hits a Wall as Big Banks Sound Alarm: Markets Wrap
https://www.bloomberg.com/news/articles/2024-09-09/stock-market-today-dow-s-p-live-updates
FOMC Transcript Conference Call January 3, 2001
https://www.federalreserve.gov/monetarypolicy/files/FOMC20010103ConfCall.pdf
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