Macro Morning (Fed fallout)

By Chris Becker

Fed fallout on Friday was worse than expected on stock markets, with losses in the near 2% region across the major bourses. No cut and no support for further easing and indeed, a majority view that the Fed will still hike this year, sent confidence tumbling in the biggest markets. Bonds loved the news and were solidly bid up, especially in Europe while the USD had a large one day reversal, sending commodities down although strangely gold held its ground.

It’s going to be a sour day on the ASX200 that’s for sure!