Post June FOMC Minutes

Not much of a react to June minutes release, light two-way trade in long end with slightly better sellers. Some Rtrs headlines:

• COMMITTEE'S STANDARD OF SUBSTANTIAL FURTHER PROGRESS WAS GENERALLY SEEN AS NOT HAVING YET BEEN MET.
• IN LIGHT OF INCOMING DATA, SOME PARTICIPANTS SAID THAT THEY EXPECTED THE REQUIREMENTS FOR STARTING TO DECREASE THE PACE OF ASSET PURCHASES TO BE SATISFIED FASTER THAN THEY HAD ANTICIPATED AT PRIOR MEETINGS. SEVERAL PARTICIPANTS EMPHASIZED, HOWEVER, THAT UNCERTAINTY AROUND THE ECONOMIC OUTLOOK WAS ELEVATED AND THAT IT WAS TOO EARLY TO DRAW FIRM CONCLUSIONS ABOUT THE PATHS OF THE LABOR MARKET AND INFLATION.