FYI: Conventional wisdom held it would be difficult for the Federal Reserve to deliver a second dovish surprise in as many meetings. It was wrong, and the equity market didn’t quite know what to make of it.
Stocks initially erased losses on the prospect of rates not rising for the foreseeable future. Then the rebound faltered and equities closed slightly lower. It’s partly a reflection of how far they’d rallied on the first dovish turn, nearly 20 percent so far this year. And it raised the question of what it’s going to take to reclaim September highs, if not a decidedly accommodative Fed.
Here’s what traders and strategists are saying:
Regards,
Ted
https://www.bloomberg.com/news/articles/2019-03-20/fed-has-investors-scratching-their-heads-wall-street-reacts?srnd=premium
