19 June 2017

Bassanese Bites: A cleansing pause – Week beginning: 19 June 2017

Global equities continued to consolidate last week in the absence of bullish new news.  Indeed, the US Fed’s widely expected decision to lift rates barely made a ripple, with both bond yields, the $US and equities taking the decision in their stride.  With the Fed now out of the picture for at least the next three months or so, obvious catalysts to push bonds yields and the $US higher anytime soon appear lacking – unless President Trump manages to overcome his political challenges to re-focus on fiscal stimulus plans. With OPEC’s production cut agreement failing to stem global oversupply, oil prices retreated further last week – which should also help contain inflation.

 

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