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Markets Today – On Hold
The FOMC was on hold as expected, with only minor changes to the post-meeting statement. Equities are higher, extending gains towards the end of the session following the Fed. US yields were lower heading into the meeting, after the quarterly refunding announcements and alongside a soft US Manufacturing ISM. Following the FOMC, the US yields slipped a little further. The 2yr was 14bp lower on the day to 4.95%, while the 10yr was 18bp lower at 4.75%. The S&P500 gained 1.1%, and the Nasdaq was 1.6% higher, with equities moving higher towards the end of the session. Gains were led by IT and Communication Services. The ... (full story)