The FOMC meeting minutes will be released at the top of the hour.
I look around the markets shows:
The US dollar is mixed to higher with the greenback up versus the AUD, GBP, EUR and CHF, and lower versus the NZD, JPY and CAD.
In the US stock market , the major indices are trading near their in session highs:
- Dow Industrial Average is up 84.24 points or 0.25% at 33213.50
- S&P is up 14.3 points or 0.36% at 4011.63
- NASDAQ index is up 66.15 points or 0.58% at 11558.50
- Russell 2000's of 14.29 points or 0.76% at 1902.50
In the US debt market:
- 2 year yield 4.664% -6.3 basis points
- 5 year yield 4.125% -5.1 basis points
- 10 year yield 3.900% -5.6 basis points
- 30 year yield 3.913%, -6.0 basis points
in other markets:
- Spot gold is trading down $5.01 or -0.27% at $1830
- Spot silver is down $0.26 or -1.21% at $21.57
- WTI crude oil is trading at $74.15 down $2.00 on the day
- Bitcoin is trading at $23,747. That is near the low for the day at $23,594. The high extended up to $24,474.
Of note, the meeting took place before the stronger than expected US jobs report where nonfarm payroll jobs increased by 517,000 and the unemployment rate fell to the lowest level since 1969 (3.4%). It also came before the solidly higher CPI and PPI data and stronger retail sales.
Feds Mester and Bullard both expressed that they considered a 50 basis point hike at the last meeting.
Feds Powell in his press conference after the release talked of disinflationary forces in the goods sector, but not in the service sector.