While some profit-taking was overdue, the question now is whether this is simply a refresh pause or a signal that the indices are set to roll over.
Goldman Sachs analysts aren't expecting the Federal Reserve to lower interest rates before the end of the year, according to a note published Monday, even as investors price in a 60% of at least three cuts from the Open Markets Committee and President Donald Trump renews his criticism of the central bank's chairman.
To compare the yield on a municipal bond and a taxable bond, you have to calculate either the taxable-equivalent yield of the muni bond or the after-tax yield of the taxable bond.
Anything weak is a positive to be excited about and anything strong is a nightmare because that might stiffen Powell's resolve to keep rates where they are instead of cutting them.
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