Australian shares are set to open modestly higher. US policymakers met expectations for future rate moves. US retail investors buying dips. Follow updates here.
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Wilson and Trivedi earlier argued that the pressure to tighten financial conditions would define market dynamics—keeping both equities and rates under pressure—as long as the market believes that inflation is still too high and that the Fed needs to slow growth further to deal with that. “The first is if the market moves towards fear of outright recession. In that case, risk assets would likely remain under pressure but the market would begin to push yields more clearly lower even with sticky inflation.
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