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Dovish Sentiment Of The Fed Not Dovish Enough
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By: Louis Kent Lee
Articles (199) Profile

Momentum for trading improved after the US Federal Reserve cut its gross domestic product forecast for the second time in a row, on 17 June, which suggested that US economic growth is still less than expected.

The cut in GDP forecast pretty much rules out an interest rate hike in July and makes September quite unlikely unless the economy stages a turnaround soon.

Federal Open Market Committee (FOMC) members are mostly revising their projected interest rates downwards. In December, FOMC initially projected rates to rise to 1.25% to 1.75 % range at the end of this year. The new interest rates range that the group is expecting is now between 0.5% and 1% instead.

In the lion city, the court proceedings against Ezion by Atlantic Marine Services (AMS) has been withdrawn and they have agreed to release the group from all claims that had been alleged in the suit. It was revealed that AMS informed Ezion of its management changes and its intentions to cooperate and work closely with Ezion to support the operational requirements of Maersk Oil in the North Sea for three of its service rigs.

Also, Logistics Holdings was awarded a $13.8 million contract by Design International Architects. The contract involves the proposed addition and alteration works to six units of convserved buildings and infrastructure works at Park Lane, The Oval and Hyde Park Gate at Seletar Aerospace Park. The contract win has helped boost the group’s orderbook to $278.9 million.

Louis is a qualified accountant with the ACCA, and is the Research Editor at Shares Investment magazine.

Please click here for more information about this author.

Ezion Hldgs  -- -- --   
Business: Co develops, owns, and charters offshore assets to support the offshore energy markets. [FY17 Turnover] Liftboats (49.7%), Jack-up Rigs (39.5%), Offshore Support Logistic Services (10.8%).

Insight: Aug-18, 1H18, Co returned to the black with a net ... Read More
Boldtek Hldgs  -- -- --   
Business: Co provides building construction and interior decoration/fitting-out services. [FY18 Turnover] General building (77%), properties investment (22.7%), precast manufacturing (0.3%).

Insight: Feb-19, 1H19 revenue rose 28.5% due to higher reco... Read More


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