Morning Brew June 17 2021
Senior Relationship Manager
The fed was more hawkish than expected yesterday, now in favor of two rate hikes by end of 2023 and raising expected inflation levels. The asset purchases remain in place causing a split reaction. Equities which correlate strongly with the fed`s balance sheet remained fairly strong while the USD gained strongly. EURUSD broke below the 1.20, the USD Index rose app 1%, Gold and Silver drop to 1820 and 27.00. The Dow Jones fell 265.66 points ( 0.77%) , the S&P 500 0.54% and the Nasdaq Composite 0.24%. the GER30 is trading at 15650 and the 10 year yield in the US rose to 1.6%. Bitcoin trades at 38700.
Today the initial jobless rate should be the most interesting unless there is a substantial surprise from the Swiss national Bank at 9:30.
CureVac NV released that it`s COVID-19 vaccine was only 47% effective in a late-stage trial, sending the share down more than 50%.
Hong Kong police raided Apple Daily on Thursday, the first case in which authorities have cited media articles as potentially violating the national security law.