Fed rate hike roils global markets

Original article by David Rogers
The Australian – Page: 15 & 21 : 21-Dec-18

Australia’s benchmark S&P/ASX 200 has shed 9.2 per cent so far in 2018, and 11 per cent during the current quarter. The local market’s 1.3 per cent fall on 20 December was accompanied by large falls across Asia, while the Australian dollar reached a low of $US.7086 and the yield on 10-year Australian bonds fell to 2.3 per cent. Financial markets believe that the US Federal Reserve made a policy mistake in signalling further monetary policy tightening over the next few years and it may have to reduce interest rates within two years.

CORPORATES
STANDARD AND POOR’S ASX 200 INDEX, PEPPERSTONE FINANCIAL PTY LTD, UNITED STATES. FEDERAL RESERVE BOARD, NIKKEI 225 INDEX, STANDARD AND POOR’S 500 INDEX, BLOOMBERG LP, OANDA AUSTRALIA PTY LTD, MAGELLAN FINANCIAL GROUP LIMITED – ASX MFG, WAM CAPITAL LIMITED – ASX WAM, MORNINGSTAR PTY LTD, PLATYPUS ASSET MANAGEMENT PTY LTD, ECP ASSET MANAGEMENT PTY LTD, HYPERION ASSET MANAGEMENT LIMITED

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