Powell has delivered the 50bp cut traders wanted and they in turn added to their risk. Markets responded well today to the thought that the Fed could actually provide the soft landing that investors have been fretting about since 2022. Green in the index futures greeted participants as they awoke this morning, and that strength never let up. At the end of the session, the S&P 500 sat at a new ATH closing high, and the Nasdaq had its best day of performance since August 8th. The third horseman,…
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