Fresh record closes in the S&P and Dow might have been buoyed by a dovish Fed. But risks, like oil prices and increasing Treasury yields, remian.
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The yield curve between the 2- and 10-year Treasury notes is steepening. And the S&P 500"is vulnerable to bigger corrections when the yield curve is steepening," Bank of America technical analyst Stephen Suttmeier wrote in a client note.Sentiment in markets, it seems, was buoyed by encouraging comments from the Fed.
The Fed, in other words, is keeping a close eye on the economy and wants to make sure it maintains its smooth landing.
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