(3/3): Soc Gen: Investors will scour the........>

FED: (3/3): Soc Gen: Investors will scour the Minutes to see how worried

officials were about the cross-currents buffeting the economy and whether there

were any discussions about rate cuts (we doubt it, but that is all the rage in

markets right now).

- TD: After the sharp drop in the dots, markets will be looking at just how

dovish the FOMC has become. We put a very low but not zero chance on a cut

discussion; conversely rate hikes are still on the horizon for the majority of

Fed officials. The minutes are likely to show peak dovishness in terms of

nervousness about the outlook. Balance sheet details are unlikely.

- UniCredit: The March meeting announcements already make clear the dovish turn

that the Fed has made in recent months. The minutes will likely reflect the mood

by highlighting various concerns and uncertainties over financial developments

and the global economy, as well as the recent weaker domestic numbers.