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The Federal Reserve is moving into an even more aggressive path of tightening monetary policy. Major markets are reacting to this.
Markets continue to react to US data pointing to an economic slowdown. Whilst this is weighing on bond yields and the USD, it is also a concern for risk assets.
A cross-asset consolidation has set in this morning with little real direction on major markets. The Fed minutes were an exercise in confirmation and with volatility beginning to recede, markets look for the next catalyst, with the US growth revision later today.
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