Global markets move lower on second wave fears

The US federal reserve voted yesterday to keep rates in the 0 – 0.25% range with Chairman Powell stating there was no intention to raise US rates until 2022. This message sparked a rally in US government debt whilst equity markets sold off on this being seen as a more pessimistic outlook than anticipated. Markets also took a leg lower this morning as infection rates in some US states have begun to spike again as lockdown measured are eased sparking fears of a second wave of infections.