How will rate rises in the US affect markets? In particular, what impact will rising rates have on already "beaten up " commodity markets?
Westpac have published this interesting slide looking at the last 5 US tightening cycles and the impact on the CRB commodity index. From the vertical line representing the start of rate rises (t = 0), commodities have rallied in each case. Will we see a consistent reaction from markets to the impending US rate rises in 2015/16?