Daily Alert: Yield curves steepen as fears of imminent monetary tightening fade

  • A relative calm returned to markets overnight as earlier fears over aggressive central bank tightening eased.
  • Hopes of no imminent FOMC tightening provided a lift to US equities with decent gains in the major indices following the post-FOMC wobbles.
  • The USD was also lower and this looks to have provided a bit of a lift to commodity prices.

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