Fed Rolls Out “Unusually Large” Rate Hike To Combat Inflation

Below gives key levels of markets in the second half of the Asia-Pac session:

• Nikkei 225 up 249.63 points at 26575.79
• ASX 200 up 3.77 points at 6604.8
• Shanghai Comp. up 8.127 points at 3313.533
• JGB 10-Yr future up 136 ticks at 146.94, yield down 0.5bp at 0.251%
• Aussie 10-Yr future up 8 ticks at 95.8, yield down 8bp at 4.120%
• US 10-Yr future +0-14 at 115-19, yield up 3.8bp at 3.322%
• WTI crude up $0.69 at $116, Gold down $2.43 at $1831.39
• USD/JPY up 55 pips at Y134.39
• FED HIKES KEY RATE BY 75BP IN “UNUSUALLY LARGE” MOVE
• ECB BOND-BUYING SCHEME LIKELY TO HAVE LOOSE CONDITIONS (RTRS)
• BOE, SNB RATE DECISIONS DUE TODAY, BOJ ON TAP FRIDAY
• AUSTRALIA EMPLOYMENT GROWTH TOPS FORECASTS, PARTICIPATION WIDENS
• NEW ZEALAND REPORTS SURPRISE GDP CONTRACTION FOR Q1