Here Is The First Bank To Make A 50bps Rate Cut This Month Its Base Case

Last week, even well before Friday's fire jobs report, we warned that the upcoming (Sept 9) annual benchmark revision of nonfarm payrolls will be i) huge, ii) negative, and iii) prompt calls for a 50bps rate cut (see "Brace For Another Huge Negative Payrolls Revision, Greenlighting A 50bps September Rate Cut