Wyn Thomas - Axys Investment Management

Weekly Market Commentary 21st December 2018

GOVERNMENT SHUTDOWN SET TO ADD FURTHER FUEL TO GLOBAL SELLOFF

This week we got a timely reminder of what really matters as stocks tumbled on the back of the latest Fed rate hike. While the decision was widely
anticipated, the market had become convinced that recent events would have changed the banks policy on future rate rises, with expectations dropping
absurdly low to just one additional hike in the next two years. This compares to the Federal Reserve forecast of two hikes in 2019 alone, which was
reinforced with a statement from Jerome Powell. In a fitting epitaph to 2018 we then got to witness the chaos that follows when stupidity meets reality. Read more…