Greetings,
United States: After the Federal Reserve hiked rates by 25 bps yesterday, the FOMC reduced the 2022 GDP projection and raised inflation forecasts across the board.
In addition, oil price shocks have historically led to lower output caused by contractionary monetary policies.
Russia: Will we see a rebound in Russian debt?
Asia: Asian currencies are up sharply after Beijing’s decision to prop up capital markets. Here is the South Korean won.
Emerging Markets: Beijing’s effort to stimulate the stock market boosted EM ETFs.
Equities: Mega-caps surged in response to Beijing’s announcement to support China’s markets and Powell’s comments on the economy.
Food for Thought: Here are banks’ exposure to Russian debt by country.
Edited by Alexander Bowers
Contact the Daily Shot Editor: Brief@DailyShotResearch.com
