We get the election and the Fed this week, both of which should provide us with some clarity. The Fed Let’s start with the Fed because I think the Fed is easy: Cut 25 bps. That’s what they were planning to do, and Friday’s jobs report gives them the ammunition to do so. Push back on the pace of rate cuts going forward. This will be relative to the last meeting since the market has already dialed back significantly on rate cuts in 2025. They will mention a more balanced concern between a potentially better job market (see NFP – ... Some Clarity This Week?