Fed Finesse

yellenEarlier today, the Fed raised the fed funds rate by 0.25%, the first rate rise in almost a decade and seven years to the day since rates first hit zero. The S&P 500 jumped almost 1.5% and long bonds barely budged! In short, markets were well prepared and almost giddy about slightly less monetary stimulus. That said, expect increased market volatility going forward due to increased interest rate path uncertainty.

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