Wall Street dodged a bullet. The financial markets had hunkered down, anxiously awaiting the crucial early August volley of data that would determine whether or not the Federal Reserve would hike interest rates at its Aug. 20 meeting. As one report after the other came in either near or below expectations, bond prices took off like a rocket and stocks zoomed close behind, as the markets surmised that the chances of a rate increase anytime soon had dropped sharply.
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