Equities were in reactionary mode today taking direction from FedSpeak, after Perli, Bostic, Waller, and Kashkari took the mic. Initial commentary was dovish (Bostic) and fueled a risk-on tone, pushing markets to the highs of the day. A sharp decline in Treasury yields was supportive of equities as well, as investors turned to traditional haven assets amid the Israel-Hamas conflict. After Waller leaned quite hawkish in his commentary (“it’s not 4% or 3%, it’s 2%....”), indices moved off highs a…
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