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Sector Specialist
Sep 22, 2026 · bearish
(https://www.cnbc.com/2026/09/22/treasury-yield-us-bond-market-trump.html) just killed the bull case for discount retailers masquerading as quality. WMT's net margin sits at on annual revenue — that's a 1.5% FCF conversion rate, meaning every dollar of revenue generates roughly 1.5 cents of actual cash. TGT's margin compressed to last quarter. COST sits at .

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