Market Trends
Stocks have rebounded since last Friday's sell-off, sparked by Trump's tariff comments. Bonds also benefited from the sell-off and continue to rally.
This week, stocks have staged a solid comeback, driven by upbeat earnings and Fed rate cut expectations. Fed comments, focusing on a weaker labor market, support a rate cut picture.
Many market participants read yesterday's Powell comments as endorsing another cut in October.
Bonds had mostly priced in the expected cut, but the lack of bad news has led to modest gains. However, further gains are harder to justify with yields approaching the lower end of the range boundary.
Author's summary: Stocks rebound amid upbeat earnings and Fed rate cut expectations.
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