VONNIE: BLOOMBERG REAL YIELD STARTS RIGHT NOW. THE FEDERAL RESERVE CUTS RATES FOR THE FIRST TIME THIS YEAR TRIGGERING A JUMP IN BOND YIELDS ACROSS THE CURVE AS SOME INVESTORS EXPECTED A MORE DOVISH OUTLOOK. CREDIT SPREADS TIGHTEN EVEN FURTHER, NOW SITTING AT THE LOWEST LEVEL SINCE 1998.WE BEGIN WITH THE BIG ISSUE, THE FED MAKES ITS MOVE. >> THIS IS A FED THAT LOCKED ARMS. >> 25 BASIS POINTS WILL NOT SOLVE WHAT AILS THE ECONOMY.>> IT DOES NOT FORESHADOW WHAT WILL HAPPEN GOING FORWARD. >> THE FED HAS A SPLIT ...