US interest rate decision
Equity markets around the world have shrugged off this week's US Federal Reserve (central bank) decision to lift rates by 0.25% - off their record lows. In fact, there was really an expectation that it would proceed, and markets could quite well have taken the news badly if rates weren't increased. This is because, given the current quite positive US economic data (including employment), not raising rates would have signalled a lack of faith in the US economy. Additionally, we believe equity markets were ready to recognise that ~0% rates are not ideal for long-term risk pricing of assets (of all various forms).