Related: Why the Fed Shouldn’t Raise Rates in December

Strong sales from an online holiday shopping spree during Black Friday and Cyber Monday may have benefited the retail sector, but it showed that Americans still have the propensity to open their wallets despite the oscillations of volatility racking them the previous weeks. Now, with the Fed Chair’s less hawkish stance on a rate-hiking policy that President Trump has denigrated numerous times this year, it sets the perfect backdrop for more more market rally to close 2018.

I posted this whole thing a couple of weeks ago on social media as well, arguing that this is the time of the year — November through March-April — where markets tend to achieve most of their gains historically,” said Geoff Dennis, EM Commentator. “We are in a year-end rally. That is going to continue, given this little bit of an early holiday present from the Federal Reserve.”

For more trends in fixed income, visit the Rising Rates Channel.