We begin with the statement from the Federal reserve. Here is a summary interpretation from Natixis.
Source: Natixis
The “monitoring” of international developments was interpreted as somewhat dovish – although depending on how one looks at it, this could just be wishful thinking. Nevertheless the euro and treasuries rallied.
 
 
Gold, which has been moving higher this year, also jumped on the news.
Source: barchart
US equity markets on the other hand were disappointed that the Fed didn’t go far enough, not taking the March rate hike off the table.
Source: barchart
 
Crude oil was actually higher as stories spread that Russia can’t take it anymore and is pressuring the Saudis/OPEC to implement some production cuts. It’s hard to see this working however with Iran being adamant about ramping production.
Source: FT
Thus we had some divergence between crude oil and equities.
 
Regarding this correlation between oil and stocks, here are the results of the Daily Shot survey (about 1k responded). Thanks everyone for participating.
 
By the way if anyone is interested in what went into the “other” category, here is a sampling (in alphabetical order). Some responses are quite funny.
Page 1, Page 2, Page 3
 
Staying with the energy markets, here are the latest developments.

1. We hit a new high on US crude oil in storage (almost 500 million barrels).
 
2. Moreover, gasoline inventories touched record highs. The fundamentals for crude remain terrible.
 
 
3. US crude oil production is still hovering above last year’s. Incredible …
 
4. US consumers are benefiting from lower energy prices and warmer weather. While the media focuses on gasoline prices, this has to add some cash to struggling households.
 
5. Here is how low energy prices are impacting employemnt in oil and non-oil states.
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