All eyes on the US Fed
• Positive vibes. Equities and bond yields are higher as sentiment regarding the banking situation continues to improve.• US Fed in focus. While a case can be made for the Fed to hold steady, we think it is more likely that it delivers another 25bp hike. And continues to stress that ‘restrictive’ settings will be needed for some time.• AUD underperformer. Comments that the RBA will “reconsider” a pause in April have weighed on the AUD. Policy divergence can keep the AUD on the backfoot. Risk sentiment has continued to recover. The recent moves by authorities to support the banking...