It is difficult to believe that the inauguration was only 2 weeks ago, given the fast and furious pace of executive orders and headlines. DOGE has been even more “prolific” in terms of generating headlines than I would have ever guessed, and I already thought it would be impactful. It is going to be interesting. But that takes us away from a few key topics for today. Data If you thought that we were going to start with jobs data, you are mistaken. Today, “inflation expectations” deserve some attention. Right around 10am ET Friday, the stock market started to decline. ... Data, “Rules,” & Messiness