If the Fed minutes were honest they would say, "Powell already leaked to CNBC and the WSJ that we're hiking 75 bps, so our hands are tied".
I think risk-buyers are cautious until the headlines hit on fear that there will be some very-hawkish sounding words in there. I wouldn't be surprised if we see a risk rally afterwards, no matter what they contain because they're already old news.
Here's a full preview.
Over in the UK, Boris Johnson's cabinet is meeting with him now and trying to convince him to go gracefully.
