The Fed’s tilt sends the USD lower, stocks higher, and yields lower | Forexlive
The Fed acknowledged that the cumulative tightenings do matter. What does that do in December and early 2023? Does the Fed still plan to keep rates steady for an extended period after that. Those are the questions at the presser I would be interested in.
For now, the initially reaction is Stocks, higher, yields lower, and dollar lower.
Looking at the US stock market , the before and after shows:
- Dow industrial average up 23.24 points or 0.07% before the announcement. Currently up 284 points or 0.87%.
- S&P index down 13.8 points or -0.36% before the announcement. Currently up 24 points or 0.62%
- NASDAQ index -95.14 points or -0.87% before the announcement. Currently up 35.46 points or 0.33%
- Russell 2000-24.75 points or -1.34% before the announcement. Currently up 3.04 points or 0.17%
US yields:
- 2 year yield 4.54% moves to 4.464%
- 5 year yield moves from 4.235% to 4.169%
- 10 year yield moves from 4.028% to 3.999%
- 30 year yield moves from 4.078% to 4.098%
in other markets
- crude oil moves from $89.66 to $89.93
- spot gold moves from $1649.60 to $1663.65
- spot silver moved from $19.61 to $19.89