Daily Alert – Tuesday 16th June 2020: Fed surprises with corporate bond buying

Mark NugentDaily Alert, June 2020

Daily Alert – Tuesday 16th June 2020: Fed surprises with corporate bond buying

The Fed surprised the markets yesterday by announcing its Secondary Market Corporate Credit Facility – a programme to buy corporate bonds. This resulted in risk sentiment moving positive with the expected roll-on effects across global markets.

The JPY dropped on the risk sentiment and the GBP was strong as an agreement with the EU on fisheries began to look more achievable. I took a GBPJPY long.

Later today we have Fed Chair Powell in front of the Senate Banking Committee.

VIP Club members can watch the video HERE