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- his speech had a ‘hawkish’ tone, committed to price stability
- gave a framework for a future ‘reaction function’
- these are music to the bond market’s ear
- long term rates stable and possibly falling
To me, this is a successful “clearing event” and Fed likely quelled bond market tantrums. This is positive. Technology QQQ -0.67% likely sees a return of investor buying as Fed credibility has returned PS: Good for crypto trade to continue to strengthen ETH -2.72% BTC -2.94%