My sense is that the economy just simply does not justify rate cuts at this time, notes Neil Dutta. He discusses how bonds signal imminent recession, while stocks and credit don't. He talks about weighing the risk of a recession. He goes over the outlook for interest rates with a recession looming. He also highlights what the data is signaling about the health of the economy. He describes how the housing market is creating some incremental pipeline for future construction activity. Finally, he mentions what to expect from the Fed, suggesting that the Fed can permanently affect the level of asset prices. Tune in to find out more about the stock market today.