The post-FOMC rally is set to continue in the US stock market today. S&P 500 futures are up 0.8% and Nasdaq futures up 1.25%.
The bond market is driving the price action with US 10-year yields down 14.7 bps to 4.64% — a long way from the 5% touched last week. The moves come after Fed chair Powell made no effort to boost the 25% implied pricing for a December rate hike at yesterday’s FOMC.
If the gains last, it will be the fourth day of buying in the S&P 500.
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