- Stocks rose as traders digested the Fed's conclusion that the US economy is robust enough to endure the current anti-inflation drive.
- The wide US market's greatest two-day rise since 2020 propelled Hong Kong, while a weaker yen boosted export-reliant japan. S&P 500 and Nasdaq 100 futures fluctuated after the broad US market's best two-day gain since 2020.
- Sentiment is aided by China's more market-friendly policy posture announced a day ago, as well as anticipated progress on cease-fire talks between Russia and Ukraine.
- The Fed hiked interest rates by a quarter percentage point and said it would raise rates at all six of its remaining sessions in 2022. The US economy is extremely strong, according to Fed's Powell, and can withstand monetary tightening.
- Treasury yields rose, and the yield curve flattened. For some, the latter confirms their fears that the Fed will struggle to control price pressures in the absence of a significant economic slowdown.
- The dollar increased in value, while the yen fell to a six-year low. Oil has recovered from a three-day slump, but it is still down more than 10% for the week.
