The major US indices posted record closing highs once again albeit trading activity was muted, with the Dow and S&P500 posting their 36th and 41st record closes respectively in 2017 - Dow up +40-points or +0.18% and the broader S&P500 +0.11% (with a further rise in Treasury yields seeing Financials among the leading sector performers again). The NASDAQ edged +0.10% higher to notch its own record closing high (its first since September 13). The Federal Reserve's two-day monetary policy got underway, with the central bank expected to leave interest rates unchanged when they announce their decision Thursday morning AEST (followed by a press conference from Fed Chair Janet Yellen) after raising rates twice this year already. However, investors are looking for any indications of how and when the Fed will unwind their US$4.5 trillion balance sheet. President Trump also addressed the United Nations (UN) General Assembly and talked tough on North Korea, saying that "North Korea's reckless pursuit of nuclear weapons and ballistic missiles threatens the entire world with unthinkable loss of human life." Trump added that that the US was "ready, willing and able" to use military force against the nation and said he would "destroy" the country if the US was forced to act. "It is time for North Korea to realize that its de-nuclearization is its only responsible future," Trump said. Investors also kept an eye on tax-reform prospects, after Senator Bob Corker told reporters that GOP lawmakers had reached a tentative tax reform-budget deal.
