This time round, the US Federal Reserves is probably finally going to raise interest rates. Although the stock market is not at multi-year lows, the impact of the first interest rate rise in almost 10 years from an unprecedented low of 0.25% has far-fetched implications on currencies, commodities, bonds, stocks, properties and world economies. It is undeniably a grand battle on multiple fronts. 
If you have been following this blog, you will notice that my views on interest rate rises have shifted from being bearish in Jun (see Getting Ready for US Interest Rate Rises) to being optimistic at least in the short term in Sep (see A Jittery September). The economic implications of the interest rate rise are still valid, however, I believe that such expectations have been priced in and investor psychology of selling before a bad news would take centrestage at least in …