“Lots of Red”: Powell’s Hawkish Pivot to Roil Asian Market Open

archie7

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prepare to see red sea tml

https://canadatoday.news/ca/lots-of-red-powells-hawkish-pivot-to-roil-asian-market-open-50000/
(Bloomberg) – The Asian stock market risks falling on Monday as investors take in Federal Reserve Chair Jerome Powell’s stern message that interest rates will rise for longer in a painful battle against inflation.


Most read by Bloomberg


Futures lost nearly 2% for Japan and 1.5% for Australia after the S&P 500 index fell 3.4%. The slide was prompted by Powell’s refutation of the notion that the trajectory of monetary tightening may soon be moderated.


Friday’s US slump further dwindled a global rebound in stocks from June lows, fueled in part by bets that the Fed would cut interest rates next year if growth slows. Powell stressed the need for continued tightening, comments that pushed two-year Treasury yields toward the 2022 high and prompted investors to rush to the dollar as a hedge against volatility.


Dollar strength could be a drag on Asian markets on Monday. Investor fear was evident over the weekend as Bitcoin flirted with a sustained break below $20,000, a sign of waning risk appetite.
 

lowsesbbfa

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Sexpect to see more blue tents and more siao lang in public soon...
 

tidalstorm

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tot rates hike is all along confirmend liao. not sure why market reacted in such fashion when already know sure hike.

lately people tink will hike 50bp instead of 75.

anyway thread carefully
 

wooooot

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preparing for bounce into 417-420ish before the major dump back to 370

sept will be a gd month
 
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