MICHAEL JAMES, MANAGING DIRECTOR OF EQUITY TRADING AT WEDBUSH SECURITIES, LOS ANGELES
“Multiple Fed governors indicated a slowing in the pace of rate hikes, which is pretty much exactly what equity markets needed to hear. They didn’t say they’re going to be pausing. Merely the fact that they’re going to be slowing the pace confirms what the majority of people have been hoping to see. That’s why you’re seeing an equity spike initially. Obviously, we’ll see where things go in the next two hours.”
“What equity markets needed to see for the recent strength to continue was what we got from the minutes.”
Sounds good to me!
https://www.reuters.com/markets/rates-bonds/substantial-majority-fed-officials-see-rate-hikes-slowing-soon-minutes-show-2022-11-23/
