New Highs As Rates Slide

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The risk rally continues to break new ground today as the laissez-faire Fed looks benignly on the rate outlook in the US and so will maintain its commitment to supportive policy for “some time” yet. The economy is still far short of its target even as Fed members acknowledged an improving outlook buoyed by massive fiscal spending and accelerating vaccinations. This is manna to stock market bulls everywhere with indices hitting new highs once again in Europe and the UK, while the S&P500 has just opened and is approaching 4,100.

The tech-heavy Nasdaq is also enjoying another lease of… Read More:

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