GLOBAL RECAP The market approached the FOMC minutes bracing for a - TopicsExpress

GLOBAL RECAP The market approached the FOMC minutes bracing for a hawkish tone, with bonds and equities weaker and the USD firmer, if not dramatically so, with the exception of a stronger GBP. The FOMC minutes provided no major revelations. Broad support for Bernanke`s June QE timeline saw bonds and equities initially pressured further, and the USD push higher. The knee-jerks failed to follow through, but as treasuries melted down late in the day equities reverted lower as the USD sustained gains.

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