The U.S. government reopened this week although – coincidentally or not – U.S. equities swooned. The issue remains full-on valuations of U.S. stocks coupled with growing concerns with the enormous amounts of A.I. spend being put forward by many tech companies.
The Fed finally cuts the Fed Funds rate and moves to an easing path which shockingly (sarcasm), gave equity investors another reason to send stocks higher. Treasuries though said "meh", and yields even rose at the long end of the curve.
