Federal Open Market Committee (FOMC) Minutes
We also have release of the minutes from the most recent FOMC meeting later today. Traders will be looking for any indication of the Fed's next move regarding monetary policy, which is currently expected to keep key short-term interest rates unchanged for the foreseeable future. Comments and discussion amongst Fed members could be helpful to shape trader opinions on when the Fed may act next. The Fed’s next move may not be adjusting short-term rates. It could be making changes to their balance sheet and the amount of bonds they buy each month or let roll off when the security matures. The minutes will be released at 2:00 PM ET, therefore, any reaction will come during afternoon trading. These minutes may lead to afternoon volatility, or they may be a non-factor. However, they do carry the potential to influence mortgage rates, so they should be watched.