Chanticleer
Rate hike caps extraordinary 24 hours for investors
From Wall Street to Ukraine to China, three events in the last 24 hours have sparked a relief rally on Wall Street and on the ASX. Can it last?
The impressive rally on financial markets following the Federal Reserve’s decision to raise interest rates by 25 basis points and foreshadowing six more rate rises this year capped a dramatic 24 hours for global markets, which have taken a burst of bullishness from three events: the Fed providing certainty on rates, commodity markets calming on Ukraine peace hopes and China’s promise to support financial markets and its property sector.
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