Why Didn't the SPX Charge Higher and VIX Collapse on Fed Hold?

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The traditional connection on monetary policy is that easy monetary policy is an effective fuel for risk chasing. Those days are coming to a close however. It is only a matter of time until the Fed normalizes. In the meantime, investors are far more aware of the prices they are paying and the return they are earning - high and thin respectively...
because there were no news on new stimulus...
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