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Good news on the monetary policy front. The Fed has been signaling a willingness to ease, and currently, futures markets are predicting a 25 basis-point rate deduction in July (with some probability even of a 50 bp deduction!). Initially, this brought the yield curve down out to several years, but in the days since then, the short end of the curve has remained lower while the curve from 2020 onward has recovered back to late May levels. That's a great sign. Maybe the Fed will ease enough to avoid a contraction.