Global signal: Markets reflected week of hawkish Fed commentary

The market is little shaky, in the Friday’s session, the US market – the S&P 500 sold off and then picked up. So from the lows it was a one percent odd recovery. Basically, Friday’s market action reflected the culmination of all the hawkish Fed commentary that was heard all through the last week. So there is nothing new. The newsflow from the Fed is very clear, they are repeatedly saying that inflation is a little out of control, there is going to be taper, which is going to be faster, earlier rate hikes immediately follow and then will start to reduce the size of the balancesheet itself.