The market is waiting for the Fed now

Equity markets remain on an upward trend and bonds are trading near their recent highs (yields near their lows). A key consumer survey showed lower inflation fears in the US, but the series is volatile and inflation should remain the key issue for a while. There is a Fed meeting this week, the big question being to know whether a discussion about reducing bond purchasing will effectively start of being postponed again. The USD has strengthened against the euro, the EUR/USD exchange rate testing 1.21. Indeed, the ECB already answered the question: it is too soon to remove extra purchases of bonds decided in March.

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