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What to Watch: Dec FOMC Minutes, Fed Speak, ISMs, JOLTs

US TSYS
  • Cash Tsys weaker, lower half of narrow overnight range as markets await the December FOMC minutes release at 1400ET. Tsys had gapped higher on Dec 13 after the Fed held rates steady and acknowledged inflation has eased but reiterated the Fed is "prepared to tighten policy further, if appropriate".
  • Tsys have traded lower over the last week, however, as markets temper projected rate cut expectations (no longer fully pricing in the first cut in May).
  • Scheduled Fed speak: Richmond Fed Barkin as he presents his economic outlook to the Raleigh Chamber of Commerce at 0830ET.
  • Session data: ISMs and JOLTS Job Openings at 1000ET. Look ahead: ADP private employment data at 0815ET tomorrow, followed by December employment release on Friday at 0830ET.

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