Market sell off in preparation for Jackson Hole Friday. Markets are essentially pricing in hawkish tone. In the most basic form of verbiage - Markets think rate cuts are no longer a guarantee for September - Powell speaks Friday, if he hints at all at no rate cuts. Market is front running the move, thus the sell off. - If Powell comes in soft and leans that rate cuts are likely, we turbo rip. If there are no cuts for September however it’ll be an ugly 4-6 weeks until we have clarity for October potential cuts. Market HATES uncertainty and we are seeing that in the price action right now.