The answer was A. After weeks and days anticipating the increase, the verdict is out and markets have also reacted strongly.
The FED was unanimous of its decision and its the first step to further increases. As of 18 September 2026, the Philadelphia Semiconductor Index rose another 2.8%, its fourth consecutive gain, and finally broke above its 50-day moving average after that level had acted as resistance since July. The backdrop is still unusually volatile, the SOX had fallen about 21% in July, so some of what we are seeing is recovery from a major drawdown rather than a fresh move from a stable base. Next to watch : Micron earnings on 30 Sep
Two Rounds of Treasury Buybacks, and Long-End Yields Still Hit a New High?
The Treasury bought 20- to 30-year debt again Wednesday, capped at $6B — second round in two weeks; the first filled only $5.2B. The bid came, yields didn't fall: the 10-year closed at 5.11%, up 15bp and the highest since 2007, as was the 30-year. October Fed hike odds hit 69.7%. Stocks fell: Nasdaq -1.13% to 26,936.04, erasing Tuesday's record; QQQ -0.84% to $741.21; S&P 500 -0.75% to 7,706.03; Dow -0.68% to 51,511.59. Bulls say firm data, not weak demand, is lifting yields; bears say two buybacks and a new high prove the bid can't absorb supply. At what yield do you redo the math on stocks?
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