Not really, Fed Banks still have room on interest rates. U.S Fed will aggressively cut in Sept starting the reversal from Inverse Yield panic. This is a very reliable indicator, but it's usually met with initial dump in markets, followed by new highs 3 - 12months, and then recession hits.
Plunge protection teams will come into play tonight.
This one will peak early IMHO at about the 3month mark as there is a lot going on with China and Germany.
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