HALISTER1: U.S. ECO PREVIEW: FOMC Minutes Due in 5 Minutes

U.S. ECO PREVIEW: FOMC Minutes Due in 5 Minutes

(Bloomberg) -- Minutes cover Dec. 13-14 meeting of Federal Open Market Committee, when central bank tightened for first time in a year.
  • FOMC holds first 2017 meeting Jan. 31 and Feb. 1
  • Futures trading suggests ~12% probability of further action at next session; June meeting seen as most likely for further tightening
  • “Headwinds, including dollar appreciation and an increase in market-determined interest rates, will do some of the heavy lifting for policy makers -- ultimately enabling them to hike just twice in 2017": Bloomberg Intelligence
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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UUID: 7947283

HALISTER1: FOMC Minutes May Cause Confused, Sizeable Reaction: FTN

FOMC Minutes May Cause Confused, Sizeable Reaction: FTN

(Bloomberg) -- “A lot of time off has passed” since FOMC’s Dec. 14 decision to raise rates, “so expect confused and sizeable reaction” to the initial headlines, FTN strategist Jim Vogel writes in note Wednesday.
  • “First takeaway” from meeting, which also produced higher median forecasts for fed funds target in 2017, 2018, 2019 and longer-run, was “rampant hawkishness,” even as Yellen stressed a “steady course”
  • Market participants appear concerned that minutes “will reveal underlying concern about inflation”
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Jim Vogel (Ftn Financial)

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UUID: 7947283