deterioration

"We regret that the text adopted was not more ambitious and does not reflect the deterioration of the situation in Yemen over the past year," said France's deputy envoy Jay Dharmadhikari.

Meanwhile, Target is coming off years of declining sales and foot traffic, shrinking profits, and a steady deterioration in the store experience.

But “importantly, we are not seeing a fundamental deterioration in profits, the north star of this bull market,” Truist’s Lerner said in his note.

The softening labor market argues for continued rate cuts to prevent further deterioration, while inflation that has run consistently above the central bank’s 2% annual target for the past five years argues for caution.

“I didn’t expect fundamental deterioration in the underlying mortgage pools to hit critical levels for a couple years,” he said—when the teaser rates would vanish and monthly payments would skyrocket.