Last week we looked at over ten indicators to watch to determine whether risk-assumption was truly reigniting in global equity markets and suggested watching the FOMC meeting and market reaction to it carefully. The Fed clearly blinked and reduced both the Fed Funds and Discount Rate by 50 bps in a surprising unanimous decision that ignited global equity markets. The US market broke through the August highs in major indexes on high volume and on a 90% up-day. TLTs fell sharply and broke their up trendline shown last week, as interest rates and volume finally joined the rally. Whil[...]
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[Source: The Money Blogs]
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