Fed raised rates by 25 basis points as expected, but more importantly, Chair Warsh sounded very hawkish during the press conference. Some policymakers even voted for a 50-basis-point hike. So with the Fed delivering only 25 basis points this time, more hikes are still possible in the months ahead.
Looking at the 10-year Treasury wave count, this still looks like only a wave four recovery. So more weakness in bonds could follow, which would mean another move higher in yields and could keep the dollar supported.
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