The spread between 10-year Treasuries and junk bonds is at the lowest in over 20 years, notes Ted Thatcher, author of the new book ‘Launch Your Retirement: A Financial Planning Guide to Go from Saver to Spender’. He previews the December Fed rate decision, where the probability of a cut hovers around 50%; he expects the lowering cycle to continue into 2025. He likes small caps and domestic companies.