CNBC's Jim Cramer on Monday said last week's rally may not be a temporary change to the market.
"I'm not going to throw cold water on the reversal in the bond market that lowered long-term yields dramatically and repulsed the selling hoard at the five and change level on the thirty-year."
Like many rallies, Cramer said last week's market gains were "hard-fought victories" for the bulls that were not expected to occur in an over-sold market where the "gloom was palpable."
After last week's Federal Reserve meeting, where rates held steady, Cramer suggested it's possible there may not be any more rate hikes in the next few months.
However, he admitted that the thesis is contingent on whether any major component in inflation, like real estate prices, accelerates.
Persons:
CNBC's Jim Cramer, Monday, I'm, Cramer
Organizations:
Reserve, Apple, Nvidia
Locations:
China