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Good morning. Fed hike, more ECB rate increases, Russia ups stakes in war and bailout after bailout in Europe. Here’s what people are talking about.
The Federal Reserve will probably hike by 75 basis points on Wednesday for the third straight meeting. A 100 basis point move can't be ruled out amid global efforts to stamp out inflation. Risk assets were already having a rough session in Asia amid the dollar’s strength before the pivotal FOMC event and cryptocurrency investors waited with bated breath. Strategists are now looking beyond the key issue of inflation for other potential market metrics that may cause the Federal Reserve to slow its aggressive cycle of interest-rate hikes. Meanwhile, a brutal wipeout in a $25 billion bond exchange-traded fund has investors wagering that the worst is over.