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Mr. Market ❤️ Jerome Powell

By mid-morning I’d already been asked multiple times about whether this morning’s stellar rally is warranted and/or sustainable.  Coming on the heels of a minor “sell the news” decline after Chair Powell’s post-FOMC press conference, the turnaround is quite dramatic.  In light of my frequent assertion that “traders react while investors consider”, investors consider yesterday’s rate move to be quite favorable.

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