A Dovish Message Within a Hawkish Rate Cut

Key Takeaways The Fed Coupled a -25bps Rate Cut with an Advanced $40B T-bill Purchase PlanStock Market Rises, Bond Market Falls on the Fed NewsOracle, Adobe and Synopsys Report Earnings After the CloseWednesday, December 10, 2025As it turns out, the stock market loved today’s Fed announcement about a 25 bps rate cut. The small-cap Russell 2000 zoomed to a new all-time-high close, while the S&P 500 came within 5 points of its own all-time high. Bond yields, which had ratcheted up to +4.2% on the 10-year, wer ...