With all that's going on, I'm not sure where to start this post today. Do you really need a full recap of the events since Friday and the cascade of headlines? Probably not. So, instead, let's start at the finish and remind you again of where this all leads.

Perhaps that means we start with a reread of this year's macrocast? I expected the Fed pause and pivot to be obvious by summer, yet here we are on March 13. As we've discussed in the two months since I wrote it, the timing doesn't matter. What does matter is that The Fed WILL pivot back toward rate cuts and QE. Of that you...