Jerome Powell Weighs In, Bond Bulls Return: What You Need to Know About The Fed's Latest Move
Portfolio Pulse from Piero Cingari
The Federal Reserve announced it will maintain its benchmark interest rates in the range of 5.25% to 5.5%. Fed Chair Jerome Powell dismissed speculations about potential rate cuts and left the door open for further rate hikes. Powell's comments led to a decline in U.S. Treasury yields and a rise in the US Treasury 10 Year Note ETF (UTEN) and the iShares 20+ Year Treasury Bond ETF (TLT). Stocks surged during Powell’s press conference, with the SPDR S&P 500 ETF Trust (SPY), the Invesco QQQ Trust (QQQ), and the Technology Select Sector SPDR Fund (XLK) all showing gains.
November 01, 2023 | 7:43 pm
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POSITIVE IMPACT
The Invesco QQQ Trust (QQQ) made a remarkable rally of 1.5% during Powell’s press conference.
The Fed's decision to maintain its benchmark interest rates led to a surge in stocks, including QQQ.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) gained 1% during Powell’s press conference.
The Fed's decision to maintain its benchmark interest rates led to a surge in stocks, including SPY.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The iShares 20+ Year Treasury Bond ETF (TLT) rallied 1.5% following the Fed's announcement.
The Fed's decision to maintain its benchmark interest rates led to a decline in U.S. Treasury yields, which in turn led to a rise in the price of TLT.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The US Treasury 10 Year Note ETF (UTEN) rose 0.7% following the Fed's announcement.
The Fed's decision to maintain its benchmark interest rates led to a decline in U.S. Treasury yields, which in turn led to a rise in the price of UTEN.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The Technology Select Sector SPDR Fund (XLK) posted an impressive 1.7% increase during Powell’s press conference.
The Fed's decision to maintain its benchmark interest rates led to a surge in stocks, including XLK.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80