Who knew? Fed pauses are good for stocks–especially financials

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HIGHER IS BETTER: This isn’t exactly intuitively obvious to me, I admit. LPL Financial’s Jeff Buchbinder notes that during Fed pauses—that is, periods like now, when the Fed has apparently finished raising interest rates but hasn’t begun to cut them—the stock market has actually done pretty darn well:

What’s more (and this isn’t intuitive to me, either), the industry sector that does best during Fed pauses is . the financials.

Go figure.