It was a green day across the board as the metals and miners surged forward on decreased interest rate hike expectations. Bonds rallied and the POSX fell, thus giving the charts the look of a "higher low" with better times ahead.
But none of this should come a surprise to all of you here. The recent Fed rhetoric of a "hawkish pause" was nothing but attempt to jawbone rate hike expectations higher. The final hike of the cycle is now pending for the next FOMC in two weeks and, once it's finally behind us, we can all begin to look forward to the first rate cut...possibly as soon as...
