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Fading euphoria | As the dust settles on the Federal Reserve's big interest rate cut this week, traders are starting to wonder what is next. That means some of the euphoria that followed Wednesday's move is starting to ebb, leaving stocks with declines in European equities and US futures, contrasting with gains in Asia. Meanwhile, Bank of America's Michael Hartnett warned the rally since the decision is stoking the risk of a bubble, making bonds and gold an attractive hedge against any recession or renewed inflation.
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