The staggering run of bonds

The Fed was guiding the markets into thinking this was potentially the last rate hike in this cycle.

Despite signs of a cooling labor market, with employment data showing a lower-than-expected growth in new private sector jobs and an uptick in the unemployment rate, the market remains optimistic about the future.

As the midnight deadline approached for Congress to pass a continuing resolution that would temporarily fund the federal government, the prospect of a shutdown dominated market sentiment.

Stock valuations are approaching five-year highs