20 Dec 18 - Markets Fall on Fed | Kiwi Property Group Initiation   Please note that tomorrow will be our last daily update for the year, and we will resume in mid-Jan 2018. We wish everyone a Merry Christmas and a prosperous New Year. Global markets gave up early gains overnight, as shares on Wall Street turned sharply lower following the latest announcement by the US Federal Reserve. Investors looking for a year-end rally on the back of a “softer tone” from the Fed were disappointed, as it lifted rates as expected, and policymakers signalled they see two potential rate hikes next year. While that is a paring of their projections, it is still more optimistic about the outlook for US growth than investors and that, at least initially, looks to have seen stock markets sell-off. We will continue to monitor moves by the Fed, as the scope of interest rate hikes remains a crucial factor in terms of driving markets.  ...