Federal Government

From Bloomberg macro commentator Chris Anstey

Currency moves can be "brutal," as the European Central Bank well knows, since then-ECB President Jean-Claude Trichet used that memorable adjective more than a decade ago. The problem for the ECB is it may be heading down a dark alley where two well-armed peers await.

Investors have reasonable clarity about the medium-term policy outlook for the U.S. Federal Reserve and Bank of Japan, with both central banks effectively anchoring long-term rates.

The euro soared to the highest level in over a year while bond yields and global shares also climbed, as an ongoing barrage of coordinated hawkish comments from central banks signaled the era of easy money might be coming to an end for more than just the United States. S&P futures were fractionally in the green following the best day for US equities in two months, as banks climbed after passing the Fed's stress tests and announcing bigger than expected shareholder payouts.

U.S. index futures point to a slightly higher open, as markets in both Europe and Asian fall.The EUR surges to one year highs as markets continue to reverberate from Draghi's hawkish comments while yields rose around the globe following similar hawkish comments from Fed speakers on Tuesday.

Authored by Michael Snyder via The Economic Collapse blog,

Did you know that the federal government owns 28 percent of all land in the United States? 

If there was any confusion why the Fed intends to keep hiking rates, even in the face of negative economic data, it was all put to rest today when not one, not two but three Fed speakers, including the two most important ones, made it very clear that the Fed's only intention at this point is to burst the asset bubble.