Tech stocks are leading the rise, and Yellen's statement is boosting market optimism🤗
US rates dropped by ~5bp across the curve today while equities enjoyed another rally led by tech and growth names, versus rotations out of real estate and utilities. Secretary Yellen added to the risk-positive mood as she stated that while "slow growth in China can have some negative spillovers for the United States", but the US's labour market continues to be strong and she expects that the Fed is on a "good path" to bring down inflation without a major weakening in the labor market, and that the US would be able to avoid a recession.
