Nick Tell, CEO of Armory Group, attributes recent market volatility to "personality uncertainty" rather than policy uncertainty, pointing to President Trump's track record of using chaos as a negotiating strategy. Tell believes the 10-year Treasury yield will stay rangebound above 4.3% due to growth concerns and safe-haven asset class uncertainty. Despite some positive hard data, such as stronger-than-expected durable goods orders, Tell notes that consumer-facing companies are starting to show weakness. He expects a potential trade deal to be announced soon, potentially within the next few months, to claim victory and ease tensions.