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Market Update – December 16 – Ms Lagarde the Most Hawkish of All

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The following are the FED’s On Wednesday, there will be hawkishness ECB It went one step further. Although the central bank may have slowed the pace of tightening, the statement stated clearly that it is not an indication that rates are near the peak. there will have to be further “significant” tightening to bring rates to restrictive level, To dampen demand and bring down inflation. “This is not a pivot, we are in it for the long game”. EUR Stalled & Yields Credit for short term erupted (2yr German yields moved 24.2bp – the most in a single day since 2008) and the DAX lost –3.28%. 7 other central banks (includes BOEYesterday, ) rose rates as well. All commentators were critical of the rise in inflation. A big Risk-Off day. The AUD tanked 2.4%?, Yen lost 1.7%, Gold Was down 1.7% And USOil Was off 1.8%.

  • The USD Index Rallyed from 104.80 Blowing to retake your key 105.00 Band trades 105.30 now. US Stocks Tanked (-2.25%-3.2%) Yields Also, at the lowest possible levels Treasuries Ten year period of gains Closed at 3.47% These are lower than at 3.45%. Asian Stocks are also lower after CB Week (Nikkei -1.87%) and more grim Chinese covid narratives…”Beijing death toll mounts as Covid sweeps through Chinese capital”,…



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