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21 Mar 2016
US equity markets cheering the Fed's dovish stance - SocGen
Kit Juckes, Research Analyst at Societe Generale, suggests that in the US, we get the Chicago Fed index and existing homes sales data today, durable goods orders Thursday, and politics all week.
Key Quotes
“Equity markets have been cheering the Fed's dovish stance, though that will be tempered by the softer oil price today. The longer-term question is when improved risk sentiment brings Fed rate hikes back to the agenda, which highlights the silliness of the current policy debate.
The market watches the Fed which watches the market, while the Fed's naturally dovish bias underpins risk assets and higher-yielding currencies until everyone gets scared of Fed hikes again.”
Key Quotes
“Equity markets have been cheering the Fed's dovish stance, though that will be tempered by the softer oil price today. The longer-term question is when improved risk sentiment brings Fed rate hikes back to the agenda, which highlights the silliness of the current policy debate.
The market watches the Fed which watches the market, while the Fed's naturally dovish bias underpins risk assets and higher-yielding currencies until everyone gets scared of Fed hikes again.”