Rates holding steady was widely expected. The bigger question now is whether the market treats this as a pause that still supports risk assets, or as a reminder that cuts may come slower than many want.
To me, the next move depends less on the hold itself and more on how inflation, labour data, and earnings momentum line up from here.
My read: this is not automatically straight-up bullish. It gives the market room to stay constructive, but it still needs proof.
I would separate short term relief from a durable next leg higher.$SPDR S&P 500 ETF Trust(SPY)$
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