Morning Bid: Jittery markets attempt risk-on rally while waiting for Powell

With about 12 hours still to go before the Fed announces its policy decision, investors are attempting a bit of a risk-on rally.

The collapse of Silicon Valley Bank, which sank under the weight of bond-related losses due to surging interest rates, kicked off a tumultuous 10 days for banks, with fears of a global meltdown rattling investors. Traders are pricing in a 15% chance of a 25 basis-point interest rate hike by the Fed and an 85% chance of no increase. Just a month earlier, the market was pricing in a 24% chance of a 50 basis-point hike.since the collapse of Silicon Valley Bank and a rout in Credit Suisse shares that led to a shotgun takeover on Sunday by Swiss rival UBS.The MSCI ex-Japan index rose 1.3%, while the dollar and gold traded in narrow ranges. Futures indicated European stocks would likely join in on the rally.

Source: Financial Digest (financialdigest.net)

Yeah, keep calm, and W8, Powell is the lamb, he's ready, after the trial month eh, prepare the pas, sword

Tell Biden & Sunak that they are disgrace in the history of politics, Biden & Sunak foreign policy’s in Banking system through commonwealth countries has put average citizens around the world in to a serious Agony

En attendent Powell

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