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The Fed left rates unchanged as expected, but Chair Kevin Warsh's press conference marked a philosophical shift away from forward guidance, saying the economy, inflation, and the bond market will set the rate path. The uncertainty triggered a bear steepening: the 10-year yield jumped 8.1bp to 4.685% and the 30-year rose nearly 12bp to 5.211%, pressuring equity valuations as the Nasdaq 100 fell 2.06%, the Dow 2.19%, and the S&P 500 1.52%, with tech and AI names hit hardest despite the dollar ending mostly lower. Watch whether long-end yields keep repricing without Fed pushback, as sustained 30-year yields above 5.2% would extend the duration headwind for high-multiple tech and risk assets broadly.
As a Macro signal, watch whether it changes price action, volatility, or flows around IXIC, GSPC, DJI.
Original Source: InvestingLive News
This page is market information analysis, not investment advice.
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