Summary
"Our sense is that the market is still premature in anticipating the end of Fed rate hikes, and thus the huge relief rally that comes with it," said Vincent Delisle, a strategist at Scotia Capital. "I'm still not convinced they're done."
"It's almost as if financial markets thought that (Fed chairman) Ben Bernanke was going to be the monster in the closet, and had braced themselves for something much sterner," said Avery Shenfeld, senior economist at CIBC World Markets. "There is a sense that another rate hike by the Fed won't be automatic. This is a relief rally," said David Jones, chief economist at DMJ Advisors, a Denver-based consulting firm.See the full content of this document
Extract
Modest Rate Hike Cheers Markets
By Martin Crutsinger
TORONTO -- The world's major stock market indexes -- not to mention bonds, gold and the Canadian do...See the full content of this document
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