The S&P 500 hit another all-time high today fueled by hopes of rate cuts by major central banks starting June. It started with the ECB this morning holding rates at current levels but cutting inflation forecasts for the year. US treasury yields fell briefly despite the ECB keeping their policy guidance restricted. Yields briefly recovered off their lows until Jerome Powell began to testify in front of the Senate. Traders betting on rate cuts were glad to hear him say that the Federal reserve is…
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