Market movers today
The main event in the markets today will be the FOMC meeting. A rate hike of 25bp is a done deal, and the market will be looking towards the statement regarding future rate hikes and a possible redaction in its balance sheet.
In Europe, focus is on the Dutch election. Recent polls suggest that Geert Wilders is losing ground to Mark Rutte and that Geert Wilders’ party will not be the largest party. This should be supportive for European semi-core yield spreads to Germany
Finally, we have string of data from the US and Swedish inflation survey as the main economic releases today.
Selected market news
The Oil price has risen modestly this morning, while US equity markets posted small losses yesterday. 10Y US Treasury yields fell a few basis points in yesterday’s trading session. It has again been a mixed session in the Asian equity markets but with most markets following the negative sentiment from the US equity markets while the markets await the outcome of the FOMC meeting.