Traders work on the floor of the New York Stock Exchange (NYSE) in New York, November 10, 2022.
Brendan McDermid | Reuters
Broader markets surged on Thursday after October’s consumer price index showed the inflation rate may finally be easing.
- In response to the CPI print, US Treasury yields have plunged on anticipation and hope that the Federal Reserve will no longer need to be so aggressive with its interest rate hike policy.
- When rates fall, stock valuations tend to rise, longer-duration stocks – those that promise earnings in the future but limited earnings capacity in the near term – tend to rally the most.
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