We wrote:"We are hard pressed to find what could possibly go wrong in September. So perhaps, the path of least resistance will continue to drive stock prices higher. We are still expecting a yearend rally to 5800 on the S&P 500, but it could already be underway."cut the federal funds rate by 50bps rather than 25bps on September 18. On September 2, we wrote that better-than-expected economic indicators are likely to rattle bonds more than stocks. That seems to be happening.
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