Stocks Sink, 10-Year Yield Reclaims 5% as Warsh Delivers His Hawkish Show
The Dow fell more than 1% and gold swung nearly three points as the new Fed chair reiterated fight against inflation.
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SPY and VOO attracted a combined $6.38 billion in daily ETF inflows, while QQQ saw outflows. QQQM, GLD and VCIT also posted notable creations.
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The Dow fell more than 1% and gold swung nearly three points as the new Fed chair reiterated fight against inflation.
The FOMC hiked interest by 25 basis points to 3.75%-4.00% during its September meeting, marking the first increase since 2023.
Gary Black said a 25-basis-point Fed hike, if positioned as 'one-and-done' could push yields lower and be better for stocks.
Gold averaged a 6.1% gain in the 12 months after the first Fed hike, but was positive just 40% of the time after one month.
https://www.youtube.com/watch?v=ucDetNtEjMU
The Fed raised rates 25 basis points as 16 of 18 policymakers projected at least one more increase before year-end.