Macro Morning

By Chris Becker 

It was all about the Fed overnight where at their July meeting, a 25 bps “insurance cut” rattled markets instead, with US stocks losing more than 1% and sending the USD higher against everything. Treasury yields jumped across the curve while Australian interest rates fell, with the 10 year government bond now at a record low. Commodities like oil and iron ore also sold off in response. It’s going to be a sour day here in Asia.

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