Market Comment | Bond yields decline after the Fed dovish stance

Summary

Bond yields declined across the board, while the US dollar depreciated following the FOMC’s dovish statement, supporting equity markets.

Key points

• Key points:
• The FOMC left interest rates unchanged but open the door to a pre-emptive monetary easing, as expected.
• The US dollar extended its depreciation against all currencies after the FOMC outcome.
• Increasing geopolitical concerns after Iran said it shot down a U.S. military spy drone.

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