Patient Fed and a 5-Year Low for Oil Fuels Comeback

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Though last week’s drubbing extended into the first few days of the new week, equity markets staged a furious comeback after the Fed on Wednesday reiterated it would take a patient approach to its rate hikes. Oil prices continued to decline but showed some stability near a five-year low around the mid-$50/barrel level. Yield on the benchmark ten-year Treasury approached 2% during the week before rebounding to finish around 2.17%.

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