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September 23, 2026 - Blowout PMI Just Killed the Fed Pause
The soft-landing narrative just ran into another problem.
A surprisingly strong PMI print is forcing markets to rethink the path for interest rates, pushing back against hopes that the Federal Reserve could soon step aside. For investors, the issue isn’t simply stronger growth — it’s what that strength means for inflation, Treasury yields, valuations, and an equity market still priced for a relatively forgiving policy backdrop.
In this episode of Market Pulse, we break down why resilient economic data can become bad news for markets, how the rates story is shifting again, and what the latest…
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