US stocks rallied overnight even after the Feds comments sent bond yields higher, the US 10 year yield hitting 2.24% before retreating to 2.18% in what looked distinctly like a blow off style top – time will tell on that call! We are sticking with our view that the S&P500 is “looking for a low” in the 4100-4200 area and now the Feds shown its hand & provided a more certain pathway stocks can enjoy a relief rally, after all MM discussed 7 hikes earlier in the week showing it was no major surprise.
MM remains mildly bullish US equities over the coming month (s)
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