The Fed Hikes, Credit Tightens and Commercial Real Estate Looks Like the Next Problem for Banks
The Breakdown
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The Market Reacted Poorly to Powell's Rate Hike
The S&P 500 and NASDAQ closed the session down 1.6 percent. Longer-term bonds adjusted lower with the two-year treasury yield moving down by 25 basis points to 3.93 percent. Still, most analysts saw in Powell's comments some indicators that the hiking cycle might be coming to a close.
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