US futures are indicating a higher open. European equities markets have opened higher as the region catches up with market action in the US, following a mixed performance in Asia. Dichotomy between the Fedspeak and markets has widened overnight, following the Fed’s move to raise rates by 25bps as expected, and Chair Powell’s clearly indication that it would not be the last hike in this cycle and no cuts would be considered this year. Nevertheless, Fed Fund futures have now priced in 50bps of rate cuts by year end.
Companies Mentioned: Citi Group