Fresh record closing highs for both the Dow and S&P500 to cap a strong 24-hours for global equity markets as the Federal Reserve kicks off their two-day monetary policy meeting - Dow rallied +93-points or 0.44% and the broader S&P500 +0.45%. Technology stocks rebounded from 2-days of selling pressure to lift the NASDAQ +0.73% (but still ~101-points below its record closing high). With the markets regarding a +25 basis point interest rate hike as a fait accompli, the real intrigue will centre on Chair Janet Yellen's press conference and signals around the future path of monetary policy. Interest will also centre on the central bank's proposals to unwind their balance sheet, which has ballooned to ~US$4.5 trillion.
