FOMC sentiment was largely positive - UOB
|Analysts at UOB Group explained that the focus overnight was on the FOMC minutes from its 31 October - 1 November policy meeting.
Key Quotes:
"The minutes indicate members with almost universally positive views on growth the labor market, consumer spending and manufacturing all were showing solid gains."
"Whilst there were disagreements on the pace of inflation, and even a discussion about changing the Fed’s approach to price stability, the sentiment otherwise was largely positive."
"Moreover, they said the picture could get even better if Congress lowers corporate taxes as part of the reform plan making its way through the Senate. However, when it came to evaluating market conditions, the talk took a more cautious tone."
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