sp'daily5
VIX'daily3
Summary
As expected, the Fed raised rates by 25bps to a new target range of 2.00-2.25%. The sp' saw a minor spike upward, only to swing lower, filling the downside gap to 2907. I could almost understand some getting a little excited at the post FOMC cooling, but its really not that unusual for a fed day.
Volatility picked up with the late day equity swing lower, but the VIX still settled in the 12s, indicative of underlying capital market confidence.
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Bonus chart: Germany, monthly
With just two trading days left of the month/Q3, the DAX is currently +0.2% at 12385. This is an impressive turnaround, and does offer hope of renewed upside into year end.
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Goodnight from London
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