The bulls are back and investors are chasing the market higher. Last week I wrote about why a 50 basis point interest rate cut could be a mistake, as experts told me a bold move by the Fed could signal doom and gloom for the economy and risk triggering a market selloff.

The world of 5% yields is ending.

"In other contexts, a larger move may convey greater concern about growth, but Powell repeatedly stressed this was basically a joyous cut as ebbing inflation allows the Fed to act to preserve a strong labor market.