Market Comment | Fed’s dovish tone dialed down expectations for a rate hike this year

Summary

As expected, yesterday’s FOMC left interest rates unchanged and intensified its dovish stance. In addition, it revised down official projections for 2019 GDP growth and inflation. Following the more dovish Fed tone, US yields declined across the curve and the USD depreciated. However equity markets fell as fears over a snag in US-China trade negotiations unnerved investors

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