DOVISH ECB OFFSETS HAWKISH FED — DROP IN EURO BOOSTS DOLLAR

ECB WON'T RAISE RATES FOR ANOTHER YEAR ... The Fed raised its short-term rate by a quarter point yesterday as expected. But it also added a fourth rate hike this year which gave its announcement a more hawkish tilt. That had the immediate effect of boosting Treasury bond yields and weakening bond proxies like utilities and REITS. Bank stocks, however, ended in the red after an early...

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