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Bond yields dropping five consecutive days. This line from bank of america, no news is good news. There has hardly been any news. Today light on data, light on earnings, heavy on fed speak. Vice chair jefferson, governor cook, boston fed president collins. Tons more fed speak. Lisa this is giving you a sense of where we are in the cycle of data that we are focusing on fed speak as the leading issue because that is the only thing. Neel kashkari was so loud when he said his base case was staying on hold for a longer time. He raised the possibility of a potential rate hike but he talked about the euphoria of markets. There is an embrace of every disinflationary print we get and he thinks that is premature. Jonathan are we calling it euphoric . Lisa it is a bias to see things in the most disinflationary way possible. Jonathan disinflation the theme of the last week. Pushing back rate cut calls. September feels like the new june. This from morgan stanley. We remain bullish on our call for b

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