#Fed Hike: Is the Second Hike Already Priced In? 👀
The Fed delivered the expected 25bp hike to 3.75%–4.00%.
But stocks didn’t celebrate.
QQQ barely moved, while SPY and the S&P 500 finished lower.
To me, the bigger story isn’t the hike we got — it’s the hike the market is now thinking about.
The market had largely priced in one move. The Fed’s projections keep another hike firmly in the conversation, while inflation is still being described as too persistent.
That creates an interesting battle:
🟢 Strong earnings + economic growth
🔴 Higher-for-longer rates
🟢 AI/tech investment remains strong
🔴 Valuations face pressure from yields
So the question is:
Did the market already absorb the second hike, or is another repricing coming?
I’m watching Treasury yields + QQQ more closely than the Fed headline from here.
If yields stabilize, tech could absorb the news.
If yields keep climbing, the pressure on high-growth stocks could return quickly.
Buy the dip, hold, or wait for confirmation? 👇
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- peepzy·14:33Not fully priced in yet. Higher-for-longer hits long-duration tech through discount rates first, so QQQ probably still trades off the 10Y more than the headline hereLikeReport