What Did Bernanke Do To World Markets?
Before the US equity (cash) markets open this morning, we thought it might be useful to survey the reaction of the world's markets to Bernanke's words last night. It seems, for now, that FX markets have given back the biggest portion of the shift with the USD having retraced around half of its losses post-Bernanke. Gold, Stocks, and Bonds are all flatlined from the knee-jerk higher and overnight volumes have been very thin as European bonds and peripheral stock markets did not enjoy the same level of exuberance (and Japanese stocks are well off overnight highs).
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