Jerome Powell is back on Capitol Hill today. This time he’ll be addressing the House of Representatives. Mr. Powell is expected to reiterate the cooling job market, which for the last three years has given strength to economic activity in the face of the high-rate-headwinds.  With the Unemployment Rate now over 4% (which is still really low) and the latest GDP revision cut in half from 3.0% to 1.5%, the probability of a rate cut on September 18 just kicked up to 75%.

You can see from 10 Year Yield chart here below that rates have dropped a bit this last week and look to be in a long-term-lower trend pattern.