SCOREBOARD: Fed fear frenzy

An overreactive market saw US bond yields soar and equities tank despite little drama in the latest Federal Reserve statement.

Okay – well there were some big market moves last night, especially on the rates side of things where yields shot higher. Naturally, the Fed has caused a stir – it’s what they do, people, although they didn’t actually announce a ‘QExit’. Indeed the FOMC's press release didn’t give much away at all and I’m struggling to see much that was really new.

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