As expected in the wake of post-FOMC positive reaction elsewhere
– FTSE +1.6%
– DAX +1.9%
– CAC40 +2.3%
– FTMIB +1.6%
– IBEX +2.0%
A few readers are rightly asking why the US interest rate hike is giving a boost to equity markets when the traditional correlation is the reverse, but there was no shock element this time.