Equities keep the faith post-FOMC, at least for now
European indices are trading up on the day, holding gains around 0.5% to 1.0%, with the Stoxx 600 index holding at record highs in European morning trade.
In terms of valuations, as long as central banks are maintaining loose policies and risk sentiment is undaunted, European equities offer good value relative to the frothiness in US equities; but sentiment does go together hand-in-hand for the most part.
US futures are also holding up so far on the day, though tech is lagging slightly. S&P 500 futures are up 0.1%, Dow futures up 0.3%, while Nasdaq futures are down 0.1%.
Elsewhere, Treasury yields are also keeping calmer after the sharp retreat last week to 1.13%, with little poise to really break away from the middling range this week just below 1.30%. Yields are near flat on the day around 1.266% currently.
All in all, it points to a steadier mood so far as the market digests the post-FOMC reverberations. The dollar is weaker in the major currencies space but perhaps we'll get a better sense of risk direction once month-end passes over next week.