Market overview 2023-06-14

In Wednesday's trading session market participants decided to take profits on the fact of the U.S. Federal Reserve's decision on the discount rate. The discount rate remained unchanged, but the Fed's comments were not too soft and signaled that there is a possibility that the wave of rate hikes has stopped, but the rate cut is out of the question now. Moreover, the Fed gave a transparent signal that it sees a deteriorating situation in both the commercial and residential real estate markets, linked to the high mortgage rates of banks. It is not difficult to continue these fears in the banking sector itself, whose profits are largely ensured by the income from mortgages.