Fed may not cut rates this month, says portfolio manager

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STORY: "Retail sales have been incredibly consistent month over month. They're not growing as fast as they were, say a year ago, but they haven't really fallen at all either. We've also seen some of the pressure relieved by just simply seeing the 10-year yield move lower and a lot of things like mortgages and car loans are benchmarked off the 10-year yield itself," he adds.