Daily Note – Houston, we have lift-off!

janet-yellen-nyuSummary

  • Fed hikes rates in first step towards normalisation
  • Shedding uncertainty with a Y2K moment
  • United States: Housing data improves in November
  • United Kingdom: Next in line?
  • Eurozone: PMI data slows as France drags

Good morning,

And there you have it folks – the FOMC decided unanimously to raise the target range for the federal funds rate by 25bp, to 25-50bp, as we had expected. This marks the end of ZIRP (zero interest rate policy) in the US and the first step in the path towards a normalisation of policy.

Let’s see how markets reacted.

Download a FULL PDF version of the Daily Note:

GlobalMacro360 Daily Note 17th December 2015

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