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AUSSIE BONDS

Futures Tick Higher At Re-Open

US TSYS

CORRECT: A Calmer Session

INDONESIA

Market Closure

US TSYS

A Calmer Session

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  • E-mini S&P prints a fresh session high of 4446.25 in response to the Fed decision, with the Fed sticking to their original plan to complete the asset purchase taper by March. There were some outside concerns that the Fed could bring forward their timing, helping prompt a minor relief rally in stock markets, with some initial downside pressure on the USD.
  • The initial dip in the dollar has proved shortlived, with the greenback gaining as markets also take into account the release of the "Principles for Reducing The Size of the Federal Reserve's Balance Sheet", detailing the Fed's thought process for the balance sheet going forward. The included details are fairly vague, but plenty of details to fill in on pace/timing/reinvestments etc and thus plenty of questions for Powell in a half hour.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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