All eyes on the US Fed
• Mixed markets. US equities consolidated while yields dipped & USD weakened. EUR at multi-year high. AUD at levels last traded in November.• US Fed. Tomorrow’s Fed decision in the spotlight. After being on hold since December the US Fed is expected to cut rates by 25bps.• Signals matter. Fed’s guidance in focus. More cuts anticipated over coming months. But Fed may struggle to be more ‘dovish’ than what is baked in. Global Trends A mixed performance across markets over the past 24hrs with participants focused on tomorrow’s US Fed meeting (4am AEST) and Chair Powell’s press conference (from 4:30am...