While rates were lifted by the Fed speaks, equity players were cautious, in anticipation of Trump’s address to the Congress later (10 am SGT). Despite the jump in rates and the greenback overnight, DXY index only managed to inch slightly above the 50-DMA in early Asia. The 30-day Fed Fund

GBL: Awaiting The Trump Card

Global Markets Daily by Saktiandi Supaat

FX Research

While rates were lifted by the Fed speaks, equity players were cautious, in anticipation of Trump’s address to the Congress later (10 am SGT). Despite the jump in rates and the greenback overnight, DXY index only managed to inch slightly above the 50-DMA in early Asia. The 30-day Fed Fund is only pricing 44.5bps of rate increase this year. Clearly, investors do not believe in a third hike unless the Trump administration unleashes more fiscal spending and has a concrete tax overhaul plan ...