Daily Alert: Fed delivers hawkish pivot, massive 24 hours for event risk ahead

  • The first read on the just-released FOMC decision is a Statement that was not too far from market expectations for a more hawkish pivot.
  • Markets’ knee-jerk response has been to push US interest rates and the USD higher, although not aggressively so given a hawkish pivot had been widely expected.
  • The big news from yesterday’s HYEFU fiscal update was the slashing of the Government’s bond programme.

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