Hi, I'm Lisa Mateo, introducing you to the new Stockmovers report from Bloomberg.

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An absolutely fascinating news conference with Chairman Powell.

Where do we start? Where do we end?

A 25 basis point reduction for the Federal Reserve, as anticipated.

But some drama over the last 45 minutes or so.

Let's start with the equity market. On the S&P 500, we look a little something like this at all-time highs up 8 tenths of 1%. On the NASDAQ, we're up by 1.6. At the moment, looking at the Russell, we're up down by about a tenth of 1%. Let's switch it up and get to the bond market, and we'll go through these yields. Let's look at yields at the moment down six basis points on twos and down about 11 on tens.

On the 30 year, we're down about eight basis points at the moment.

On policy, this was really, really subtle.

Did they drop their easing bias?

Not quite.

Did they find a way to find some optionality, without a doubt? Effectively endorsing

a view that we've had around this table over the last few hours. As times goes by, these decisions

...