First published by Money Metals Exchange here: https://www.moneymetals.com/news/2022/05/05/following-the-feds-hike-which-markets-have-legs-002524

Markets responded to the Federal Reserve’s widely anticipated 50 basis-point rate hike yesterday by rallying. Investors breathed a sigh of relief when Fed chairman Jerome Powell said a 75 basis-point future hike is off the table. Virtually all asset classes – stocks, bonds, commodities, cryptocurrencies, and precious metals – moved higher by the end of the day. The question for investors is which rallies are sustainable – and which ones aren’t.