TMTB EOD Wrap

QQQs -90bps as IWM +30bps outperform. Treasuries have a modest bid, with yields flat-to-down 2bp across the curve with 10year yields making 52wk lows. Fed expectations are holding approximately steady, with the market pricing in a 33bp rate cut on 9/18 and ~103bp for the year (h/t VitalKnowledge). The same factor outperformance as Friday continued with …