Suddenly everyone is raising the number of Fed cuts this year and early next year. Without a doubt Friday’s job report was Weak with Few Redeeming Qualities. While we argued that the Fed SHOULD have cut at the July meeting – Building the Case for Rate Cuts and Know When to Fold ‘Em – there are several reasons why the market may be getting ahead of itself in terms of rate cuts and bond yields. In any case, while last weekend’s title of Baby Pool Closed for “Maintenance” may be even more appropriate this weekend (clearly something is going on ... The Fed Dot Plod