By Chris Becker
Another record high for US stocks, although the NASDAQ retreated ever so slightly, as the USD lifted and Treasuries sold off slightly sending the 10 year yield back up to the “uncle point” of 2.4% before the Fed Meeting starts. Both major economic releases came in on target in Europe overnight with UK inflation as expected, and only a slight pause in economic sentiment in Germany according to the ZEW Survey. This should all point to positive sessions in Asia today, but positioning before the Fed/ECB one-two punch means less volume and possibly more volatility.
There’s a couple of speeches that could be market sensitive to watch out for today, first being RBA Governor Lowe this morning in Sydeny with the most focus on Governor Kuroda of the BOJ at a conference later this afternoon.