Royal: Valuations were stretched and it does feel like a hangover

All right. So, so do you agree that we're kind of in a hangover period and yesterday's action it could be part of that hangover. >> It does feel like it, you know, valuations were stretched.You know, I think one reason I I may be a little more bullish than I was a week ago is, you know, the probabilities for a December rate cut are about 95% right now. You know, they were about that going into to Pal's last press conference and then they had dip below 50. So, a little more certainty around the rate picture ...