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Two Industrial Giants with Highly Sustainable 3% Yields

 Daily Recap

 By Jon Strebler


The mystery is finally solved, not that there was much of a mystery to start with.  But today the Federal Reserve announced a 1/4% increase in the key interest rate - the Fed funds rate.  This was a modest and almost fully anticipated move, with the probability of such an increase running at 84% earlier today, according to those who bet on such things.

As many had expected, the Fed is wishy-washy on the prospect of future increases, a sign that they're not convinced that rates necessarily need to go higher in the near future.  Still, today's was the first Fed funds increase in nearly a decade, and getting that out of the way cleared the path for stocks to rally modestly.  Shortly before the close, all major US indices are up a respectable 1%, give or take.  European equities, which stopped trading before the Fed's announcement, were up ... Log in or subscribe to continue reading.

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