FOMC meeting started today and their decisions will be out tomorrow. 85% of probabilities shows that FED will raise the rate by 0.25% this time.
US FED and Government are trying their best to calm down the markets. It seems working for now but as mentioned, US financial system needs structural re-forms.
Putin and Xi were a happy couple all day, talked about Ukraine peace and importing Russian wheat to China. Chinese wheat market price has been collapsed today with this news.
US stock market was in rally again today.
FED and governments are trying their best to cover the ugliness in US financial systems. US FED cut down the money lines but big banks were fine only small sized local banks were badly damaged.
Local economies have been badly damaged already but stock markets are recovering big? It seems like, bad banks are just small part of already collapsed US local economy.
DJ Index was up 1.0%, S&P 500 Index was up 1.3% and NASDAQ Index was up 1.6% today.
Let’s wait and see when these realities would come up in the market.
