FOMC’s hawkish hold pressurizes BoJ. Adobe faces big test.

The latest Saxo Market Call Listeners' Survey is out now! Don't miss out on your chance to provide feedback and drive the content of our next two Friday Listeners' Edition podcasts: https://bit.ly/3N5gJj6     - Link to slide deck: https://bit.ly/3Nc0tg4   - Today we breakdown the FOMC's hawkish hold and the market's reaction to the upgrade of the outlook on the economy and higher dot plot projection for the Fed Funds rate for this year and the next two years as the Fed delivered a "higher for longer" message. We also preview the ECB and note that the long end of the US yield curve is the most critical, especially for pressure on the JPY, which has ratcheted dramatically higher ahead of a now critical meeting for the Bank of Japan. If yields continue higher, the BoJ must signal a willingness to tweak or risk further disorderly JPY declines. In stocks to watch, we note US homebuilder Lennar's strong results and highlight tonight's Adobe earnings call as the stock has ramped higher on anticipation of a boost from its new AI-driven products. This and more n today's pod, which features Peter Garnry on equities, Althea Spinozzi on fixed income and John J. Hardy hosting and on FX. Read daily in-depth market updates from the Saxo Market Call and SaxoStrats Market Strategy Team here. Click here to open an account with Saxo   - Intro and outro music by AShamaluevMusic