Daily Morning Call

From the Floor: Fed electrifies dollar, pummels yields — #SaxoStrats

234 views
FOMC's 25bps interest rate increase and especially its hawkish dot-plot suggestion of 3 further hikes in 2017 has sent the dollar far higher and pressed sovereign debt way down.

●  Global yields jump on hawkish Fed; bunds extend drop in early trade
●  Huge moves in currencies on renewed USD strength
●  US Treasury 2-year yield at highest level since 2009
●  Dot plots upgraded – 11 out of 17 members see 3 or more hikes in 2017
●  More modest pullback in stocks in the wake of the Fed
●  Two of Libya's largest oilfields plus biggest export terminal to reopen this week
●  Gold and silver hurt by double whammy of stronger dollar and rising real yields