This week, Wall Street threw its weight behind stocks and bonds as Jerome Powell hinted that the Federal Reserve's aggressive rate-hiking campaign may be coming to a stop.
The Nasdaq 100 closed at an all-time high for the first time in two years, with the S&P 500 and the tech-heavy gauge both notching seven-week winning streaks on the back of the Fed's dovish tone.
Resistance from New York Fed President Williams, who told CNBC today that speculating about a March rate decrease was "premature," failed to dampen sentiment.
The S&P 500 finished the day unchanged, while the Dow Jones Industrial Average benchmarks climbed 0.2%, with US Treasuries neutral.
The Fed's Bostic claimed that he was only betting on two quarter-point rate reductions in the latter half of 2024, but swaps traders were anticipating up to six rate cuts next year.