A look at the day ahead in Asian markets from Jamie McGeever.
Every Fed meeting is the most important since the one before, but rarely in recent memory has a decision - and guidance - been more in the balance thanThere are no major economic indicators or policy events in Asia scheduled for Wednesday, meaning markets there will probably take their cue from the 'risk-on' tone globally on Tuesday and then go into a pre-Fed holding pattern.
The U.S. central bank delivers its interest rate verdict with inflation well above target but declining, the labor market its strongest in years but creaking, the most volatile U.S. fixed income markets in decades and lending set to slow thanks to aRates traders are putting an 80% probability on a 25 bps rate increase and 20% on a pause. There are still calls for the Fed to make a clear distinction between price and financial stability, and go ahead with an inflation-busting 50 bps hike.
The Fed's decision and latest economic projections come days after coordinated action from U.S. authorities to ring-fence domestic banks, a renewed push for broad-based reform of the banking system andWhat seems clearer is that markets are on a more positive footing than they were only a few days ago, before the
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