### Comment:
Yep. Very similar to May, except trade war woes were the main issue--granted, they still persist to some degree, but now a potential rate cut can be used to offset the bad data. Question is, how long can this cycle continue? Obviously can't cut rates forever

### REPLY:
Agreed - I think though the market hasn’t priced in yet/doesn’t appreciate just how much ammo the Fed has beyond lowering rates, like a new QE which wouldn’t be the craziest idea since there’s a clear need for more liquidity a la Repo shit show. I think though, the market is right to be hesitant about any Fed optimism because the head hawks like Rosengren and Esther could easily dig in their heels and fuck things up because they like to be stubborn. Just my .02

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