- Global equities hit a new high on Thursday as the Federal Reserve announced an expected drawdown of stimulus and stated that it will be careful in rising interest rates. Treasury yields were stable.
- Futures in the US fluctuated in the aftermath of all-time highs for the S&P 500, Dow Jones, Nasdaq 100, and Russell 2000. The Fed stated that it is concerned about inflation concerns, but believes they are likely to be transitory because to pandemic-related supply and demand mismatches. The dollar recovered from a decline.
- The treasury yield curve remained steeper than it was before to the Fed announcement. Bond-market inflation forecasts have risen, indicating that there are still concerns about containing price pressures. Traders mainly maintained predictions on the timetable of rate hikes: the first boost is expected in July, with an additional 55 bps added by the end of 2022.
- Oil fell as a result of increased US stocks and progress toward nuclear talks with Iran, which could result in greater supplies. Thursday's meeting of OPEC+ is to evaluate output plans. After another strong drop that was swiftly reversed, Bitcoin was trading around $62,500.
- Japan, Hong Kong, and China increased their market share, MSCI's share gauge reached a new high.
