- On Thursday, index futures signalled a sell-off in US stocks after the Federal Reserve signalled its willingness to accept a recession and rise in unemployment in order to contain elevated inflation. The British pound fell following the Bank of England's rate decision.

- September contracts on the S&P 500 and NASDAQ 100 indexes both fell at least 2.1 percent, as traders lost faith in Fed Chair Jerome Powell's comments that super-sized rate hikes would not be the norm. Concerns about the impact of monetary tightening on economic output and asset valuations sparked a treasury sell-off, sending the dollar to its highest level in seven days. In premarket New York trading, European stocks fell to a 16-month low, while Chinese internet stocks fell.

- Following the Fed's largest rate hike since 1994, Powell signalled a monetary stance similar to that of Paul Volcker, who broke the back of high inflation four decades ago but paid a price in the form of soaring unemployment and credit tightening. Powell's remarks signalled the Fed's determination to keep hiking rates aggressively, implying that bond yields and equity risk premiums must rise to reflect the new reality.

- 6 BoE policymakers vote for 25 bps hike, 3 voted for 50 bps hike.

- Russia’s Deputy PM Novak: Russia’s cooperation with OPEC+ May continue after 2022.

- Swiss SNB Interest Rate Actual -0.25% (Forecast -0.75%, Previous -0.75%) CHF Strengthened

- Traders raise ECB hike bets, December prices 189 basis-points, up 12 basis-points.