Fed Pivot Confirmed: 50bps Cut Sends Markets Vertical

In a move that caught even the most dovish economists off guard, Federal Reserve Chairman Jerome Powell announced a 50 basis point cut to the federal funds rate, citing "decisive progress on inflation and emerging labor market softness."\n\nRisk assets exploded across the board: the S&P 500 closed up 4.1%, the NASDAQ Composite jumped 5.2%, and Bitcoin surged 9% to retest all-time highs. The 10-year Treasury yield collapsed 38 basis points to 3.42%, its lowest level since mid-2024.