Warsh’s First FOMC Lifts the Dollar and Rates, but the Pop Looks Exaggerated

Near-term US Equity trends remain bullish, and the constructive framework from last week's interim-deal reaction is still intact even as today's FOMC meeting under new Chair Warsh brings a bout of chop. The notable cross-currents are a bounce in the US Dollar back up to test multi-month resistance and a sharp pop in the front-end, with the 2-year yield spiking to two-week highs, an apparent hawkish tilt on Warsh's f...

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