 How many times have you priced in the soft landing in the first rate cut? Maybe not enough. Maybe we've done it. CNBC's Mike Santoli. Investors are calling that a rate cut rally. They're hoping the Fed starts cutting interest rates to make money cheaper to borrow. Some, though, are cautious with the major indexes at or near record highs. It's a rate cut rally, and the value of the cycle is coming. The question is, when is it coming? And the question is, what will be the depth and duration?