Powell Update – Dovish Snoozer. Small Caps Getting Interesting

3:45 p.m. ET The FOM/Powell basically said nothing new from the last meeting. The market likes, “Nothing”. The Dollar Index that was +0.3% is now (+0.05%). It had fallen almost the entire time Powell spoke. Yields are lower by double digits and that’s a big, market supportive move: 2Y -12 bp; 10Y -11 bp; 30Y…