I'm inclined to add to Disney on today's weakness.
There's a lot going on right now and the markets (and media) have difficulty latching on to more than three or four stories at a time.
My thesis all along has been that an attempt to normalize the yield curve must be made, therefore I would choose to be proactive.
The most important thing to know right now is that the technical conditions are very good for a big move on the Fed news this Wednesday.
The Fed needs the justification from the data to be able to cut -- it does not have that green light yet.
Right now, the Fed has to be worried about how much inflation the next round of tariffs is going to cause versus how much the tariffs will hurt our growth.
These things don't tend to happen in a market that is worried and embracing a negative narrative.
It can be enlightening to embrace the idea that no one really knows what will happen next and to approach the market from that standpoint.
The FOMC simply must act in order to make some kind of sentient attempt to repair the yield curve.
The longer the Fed waits to cut, the lower rates will ultimately go, but so far there's little hint of action to come.