ORBX is trading 3.9% up today as the Fed’s expected 25-basis-point rate hike removed immediate policy uncertainty and supported renewed risk appetite.
- The Fed unanimously raised its target range to 3.75%-4.00% on September 16.
- ORBX’s industrials-heavy composition is benefiting from the broad equity rebound, while easing Treasury yields and lower crude prices reduce pressure on economically sensitive companies.
- Softer housing data is tempering the move but has not overwhelmed today’s rally.