Five Things You Need to Know to Start Your Day

It’s Fed Day. Wait, it’s ECB Day. Wait, it’s both! Also, Bitcoin is falling.

Traders have fully priced in a 75-basis point increase from the Federal Reserve today, but are keen to know whether Chair Jerome Powell and his colleagues will raise the benchmark by a similar amount next month. Treasuries seemed calm after a tumultuous few days, but that may be just the lull before another storm. Meanwhile, DoubleLine Capital Chief Executive Officer Jeffrey Gundlach said the Fed funds target rate should be raised to 3% from 1% now.