Optimism has returned to the markets after the Fed's utterances and the strong closure of Wall Street has reverberated in Asia. The dollar strengthened über alles and once again exceeded 119 against the yen, while the euro fell below 1,23. The Nikkei climbs more than 2%, while in China the CSI300 Shanghai-Shenzen falls slightly at mid-day, after the long rally of the last two weeks.
The MSCI Asia Pacific regional index, after rising by 0,7% yesterday, is today posting a further +1,7%. The rally also owes something to Putin's (forced) reassurances that Russia is well enough (in reserves) to sustain the weak oil crisis. Crude continues to be close to the lows, with a price of 54,6 $/b (WTI; 59,4 for Brent). The yellow metal is little changed, just below the $1200/ounce level. The ruble is also stable compared to yesterday, at 60,4 against the dollar. Stable stock futures on the S&P500.
