🔥 FED HIKED. STOCKS DIDN’T CARE.
That’s what caught my attention Thursday.
The Fed just raised rates 25bp to 3.75%–4.00%, with policymakers still signalling another hike could come this year.
Yet stocks ripped higher:
🚀 Nasdaq +1.69%
📈 S&P 500 +1.14%
📉 10Y Treasury yield back to ~4.93%
🛢️ Brent crude ~1% lower
And jobless claims came in at just 196K, pointing to continued labour-market resilience. 
So what is the market actually saying?
Maybe the trade isn’t “Fed is dovish.”
Maybe it’s:
“As long as oil and long-term yields keep coming down, investors can look through the hike.”
But here’s the catch 👀
Markets were still pricing about a 53% chance of another October hike on Thursday. 
Is this the start of a bigger risk-on move, or are investors getting too comfortable with the Fed’s hawkish message?
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