Let’s call it the “Bostic bounce”. Atlanta Fed President Raphael Bostic said that the Fed could be in a position to pause rate hikes come summer. Markets immediately responded and ticked to the upside, as his comments were seen as dovish. The SPX (+0.76%) and NDX (+0.89%) pared earlier losses and finished strong into the close. But is today’s bounce justified? Keep in mind that Bostic is currently a non-voting member of the interest-rate committee and almost all previous members who have spoken…
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