FED Day After

Dollar higher  is somewhat of a Surprise as I thought the buy the rumor sell the  news trade would be in play. Dollar +100 ticks.

Emerging market stock markets are well bid ,all up well over 1%,.MSCI The Emerging market Index is up again today after being sold aggressively into fed decision.EM currencies  for most part are down against the dollar.Argentine Peso down some 20% as currency controls are  lifted,South African Rand 1.8% lower,South Korea -1.2% lower

Commodities today are lower  with the precious metals sector being hardest hit.Gold near 2015 lows and thus multi year low,silver approaching 6 year low.if platinum trades below  824 ish  6 year lows! Strong dollar , better return from Fixed income latest cause.Crude oil ugly again.

Developed Market Currencies are lower but to varying  degrees  as “commodity Currencies” are heavy. Aussie -100,Cad -78 NZD  -90 Pips. EUR only down 60,Yen -60   GBP-80.Countries relying on Exports,outside USA  are happy

Those Countries that benefit the most form perceived Increase in Exports  most notably Germany find Their Stock markets higher. Dax +3%

Treasury Curve continues to trade flatter.This has been the trade du jour and looks like it will continue.people that believe FED dot plot were Hawkish( more 2016 hikes than expected) will continue to sell short term and buy longer end.

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