US equity markets remained upbeat in the wake of yesterday’s dovish statement from the Federal Reserve. The S&P500 is up 0.7%, bond yields are lower, while the US dollar is slightly higher.

The US Federal Reserve kept the Fed funds rate on hold, as was widely expected, but shifted its guidance language in a dovish direction. In response, US bond yields and the US dollar fell, while US equities extended earlier gains (S&P500 +1.4%).

The US Federal Reserve kept the Fed funds rate on hold, as was widely expected, but shifted its guidance language in a dovish direction. In response, US bond yields and the US dollar fell, while US equities extended earlier gains (S&P500 +1.4%).

There was little movement in US equities, yields or the US dollar overnight, with little fresh news of note. The S&P500 and the US dollar are unchanged, while US bond yields are slightly lower.

There was little movement in US equities, yields or the US dollar overnight, with little fresh news of note. The S&P500 and the US dollar are unchanged, while US bond yields are slightly lower.

Disappointing earnings results from US bellwethers Caterpillar and Nvidia – party related to the US-China trade war - appeared to hurt equity and oil markets. The S&P500 is down 1.2%, and Brent crude is down 3.2%, while currencies and interest rates have been only modestly affected.

Disappointing earnings results from US bellwethers Caterpillar and Nvidia – party related to the US-China trade war - appeared to hurt equity and oil markets. The S&P500 is down 1.2%, and Brent crude is down 3.2%, while currencies and interest rates have been only modestly affected.

Disappointing earnings results from US bellwethers Caterpillar and Nvidia – party related to the US-China trade war - appeared to hurt equity and oil markets. The S&P500 is down 1.2%, and Brent crude is down 3.2%, while currencies and interest rates have been only modestly affected.

Sentiment was lifted by news that the US government shutdown would temporarily end, as well as a report that the Fed was considering whether to slow down the reduction of its treasury bond holdings. The S&P500 closed up 0.9%, the US dollar fell, and US bond yields rose.

Sentiment was lifted by news that the US government shutdown would temporarily end, as well as a report that the Fed was considering whether to slow down the reduction of its treasury bond holdings. The S&P500 closed up 0.9%, the US dollar fell, and US bond yields rose.