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Joe, its these mnuchin headlines getting something done in terms of stimulus by the election, he says, is tough. That caused a bit more of a selloff in stocks and it underscores why the nasdaq continues to have a bit under it yes, it does clearly and youre also seeing a little bit of a fallback in yield, scott. The tenyear is pushing back towards 70 basis points, somewhat troubling, i would think the market needs a little bit of some of the Forward Momentum that its been carrying in the last week or so to really cool off a little. I think we were getting a little too vertical in the way we were appreciating so the negative news that youre getting on the stimulus aligns with maybe a much needed little bit of pause in that rate of appreciation im not overly concerned by it. Yeah, rates are falling you see it there 71 basis points is where we are on the tenyear, an issue to deal with, tiffany, or perhaps the message in the fall. Ev ....
At the News Conference today steve. Thanks very much, melissa the Federal Reserve left Interest Rates unchanged at the june meeting but made a major change in the outlook, suggesting maybe a cut ahead, maybe in the next months meeting in july. Effectively ended the policy of patience as it was born, actually signalled where it wouldnt do anything for several months, instead it is now emphasizing uncertainties in the Economic Outlook and, quote, it would act as appropriate in economic expansion. Remember back in march no federal official forecast a rate cut in 2019. Now eight are on board with rate cuts, at least one this year, and seven of those forecast two cuts, and the fed chair saying even though they arent forecasting cuts, well, theyre leaning that way. Th ....