FOMC

I had been expecting the Fed to raise rates with a combination of dovish statements, but the Fed did the opposite: keep the rates unchanged but bearish statements.

This of course will continue to force investors out of US treasuries and out of defensive stocks and commodities linked stocks. I guess that the US$ will gain from here too.

For now, the MF looks negative. I was planning to buy weakness today, but I might now wait for more weakness before buying.


Pascal

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