Your 30-year mortgage and the bonds in your retirement account are priced off the same lever. What happens when the Fed raises it?

On the morning after the Fed raised rates and more hikes, gold rose 1.17% to $4,392.78 an ounce for a second straight session — a move the old rulebook says should have knocked it down, since the 10-year Treasury yield sat near 5% and oil hovered around $100. Instead, gold climbed as Saudi Arabia restored supply and sold Asian refiners more oil, easing inflation fears, while gold-backed ETF holdings recorded net inflows.

The strength ran wide: Delhi gold jumped Rs1,600 to Rs1,56,600 per 10g and silver added Rs5,000 to Rs2.47 lakh/kg. Risk assets rallied too, with S&P 500 futures up 0.8%, Nasdaq 100 futures up 1.1%, and Nvidia gaining 1.4% — something in the old playbook clearly stopped working.

Capital Currents: S&P 500 Futures Rise on Rate Hike

The Fed raised interest rates and further tightening, pushing the 10-year yield near 5% as oil prices eased. Higher yields raise the risk-free return investors can earn from government bonds, and that reset makes future corporate profits worth less today — the arithmetic behind a tougher bond market.

Morning: The Fed's Rate Hike and the 10-Year Yield

With the 10-year sitting near 5%, Freddie Mac's 30-year fixed mortgage rate rose to 6.95% for the week ended Sept. 16 from 6.76%. Jobless claims were 196,000 for the week through Sept. 12, down 10,000 from 206,000.

Here is the trap retirees must see: bond funds inside 401(k)s and IRAs lose price value as yields climb, even while new money finally earns close to 5%. The house tied to a 6.95% mortgage market and the bonds bleeding value are being priced off the same lever.

Digital Pulse: AI Names Lead the Rally

AI names led the rally as Nvidia shares rose 1.4%. Earnings expectations are back as the main driver now that the rate decision is past.

Anthropic, OpenAI and CoreWeave remain the AI names to watch. AI capex is now the swing factor for the index funds retirees already own, which ties the technology story straight back to their money.

Market Moves: Gold Climbs on a Hawkish Day

In Delhi, gold rose for a second straight session on a day when the Fed was expected to hike and more, and a softer dollar plus easing yields let investors return to bullion after a recent sell-off. Net inflows into gold-backed ETF holdings underscored that return, even as an elevated dollar and high yields still capped the day's gains.

Global: Oil Prices Ease

Oil prices eased as Saudi Arabia restored supply and sold Asian refiners more oil. With crude drifting back toward $100 a barrel, the inflation fears that had gripped the market through the correction started to loosen their hold.

Final Take & Outlook: The One Thing That Matters Most

The number to carry into the day is the 10-year yield near 5%, the single figure resetting the value of everything you hold, and the quiet read is that reserve managers spent this correction buying gold, not selling it.