Rate Cut Expectations (-25bp) That Are Already a Certainty, Firm Amid a Broader Consolidation

1:18 p.m. ET Market activity is considerably more broad-based than yesterday, but less concentrated in heavily weighted mega cap components that lifted cap-weighted indices yesterday. The day has a more consolidative feel, as expected Tuesday afternoon/night, when I put forth my highest probability thinking ahead of tomorrow morning’s Payrolls report. Economic data: Soft Survey data…