Chefen for den amerikanske centralbank, Jerome Powell, slog fast med syvtommersøm, at de amerikanske renter forbliver lave, tæt ved nul, i en meget lang periode – et par år – indtil økonomien er kommet på fode. Han vil acceptere en kortvarig stigning i inflationen på over 2 pct. i år, for den vil derefter falde, mener han. Et stort flertal i centralbanken støtter Powell i den opfattelse. Centralbanken forudser en vækst i USA i år på 6,5 pct. – det er mere end i Kina!
Uddrag fra Fidelity/Reuters:https://fixedincome.fidelity.com/ftgw/fi/FINewsArticle?id=202103180157RTRSNEWSCOMBINED_L4N2LG18Y_1
GLOBAL MARKETS-Stocks cheer dovish Fed, yen supported before BOJ decision
* Fed sees 2021 GDP growth of 6.5%, unemployment at 4.5%
* Fed says to keep rates low through all of 2023
* Equities surge on Fed’s bullish view
* Yen perks up on report BOJ to allow bigger moves in yields
Asian shares and U.S. stock futures rose on Thursday after the Federal Reserve committed to maintaining accommodative monetary policy and projected a rapid jump in U.S. economic growth this year as the COVID-19 crisis eases.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.87%, while stocks in China rose 0.74%. Australia’s market bucked the trend and fell 0.73%.
E-mini futures for the S&P 500 edged up by 0.7%.
Euro Stoxx 50 futures were up 0.52%, German DAX futures rose 0.75%, and FTSE futures were up 0.4%, pointing to a bright start to European trading.
While inflation is expected to reach 2.4% this year, above the central bank’s 2% target, Fed Chair Jerome Powell called it a temporary surge that will not change the Fed’s pledge to keep its benchmark overnight interest rate near zero.
“If the Fed isn’t going to induce tightening, it’s very bullish for risky assets,” said Teresa Kong, head of fixed income and portfolio manager at Matthews Asia. “We should be seeing a mild rally in Asian assets and currencies.”
Shares in South Korea and Singapore also jumped more than 1%, taking their lead from a strong session on Wall Street.
The S&P 500 closed at a record high on Wednesday and the Dow Jones Industrial Average closed above 33,000 points for the first time, bolstered by the Fed’s strong economic forecast and Powell’s comments that it is too early to discuss tapering-off measures.
MSCI’s gauge of stocks across the globe gained 0.35% to approach an all-time high.
The Fed projected the U.S. economy would grow by 6.5% this year – the largest annual output growth since 1984 – thanks in part to massive federal fiscal stimulus and optimism around the success of coronavirus vaccines.
“It’s sort of shocking … that officially the United States government believes it will grow faster than the Chinese government believes it will grow this year,” said Christopher Smart, chief global strategist at Barings Investment Institute in Boston, calling it a “head-turning moment for investors.”
Benchmark 10-year U.S. Treasury yields edged up to 1.6639%, not far from the highest since January last year.
The spread between two-year and 10-year U.S. yields , the most-keenly monitored part of the yield curve, rose to 155 basis points, which is the steepest since September 2015.
