Powell concludes press conference: A couple clues on what's next

Two things struck me

For me, the big takeaway was the impressive rebound in stocks and bonds mid-way through the press conference when he said it wasn't a one-and-done.

That took the S&P 500 to 2988 from 2958. To me, that's a sign of market that's looking to buy dips (as usual).

At the same time, I'm watching the front end in bonds. US 2-year yields were blown up at one point and rose to 1.96% from 1.81% before the statement. That's retraced almost right to the 61.8% level. That's my make-or-break line right now.

Powell
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