Net reactions of the global markets to Fed's 75bps rate hike were rather negative. Global stocks ended generally lower after initial recovery. Additionally, SNB delivered a surprised 50bps rate hike while BoE's 25bps had a hawkish undertone with three members wanted more. BoJ stayed calm and kept interest rate unchanged while maintaining the 10-year JGB yield cap at 0.25%. In the currency markets, Swiss Franc was overwhelmingly the strongest one. Dollar followed as second but there was clearly some hesitation towards the end, in particular against Euro. Canadian Dollar was the worst as dragged down additionally by falling oil prices. Australian Dollar was also weighed down by overall risk averse sentiment. | 