This week, the financial markets have been preoccupied with the changing narrative from the Federal Reserve, trying to figure out whether it will raise interest rates any further. Fed chair Jerome Powell’s recent press conference sounded dovish to the market, as 30-year treasury bonds yields slid from their peak to below 5%. The probability of interest rate hikes in 2024 has also diminished: according to the Fed’s watch tool, most traders look forward to a modest rate decline in September next year. Further hawkish comments from Powell interrupted rallies in the Nasdaq and S&P500, making them correct during ... (full story)