 contained inflation print in june and in july that opens the door for the fed to deliver a cut in september we're still talking though about a very measured easing here 25 basis points maybe another 25 basis points sometime in the fourth quarter so it's not as though the fed is is really delivering anything that would shock the market necessarily i think the the market is pretty much on board with the fed maybe we get 50 basis points of easing before the end of the year