To be honest, I don’t think there was much to look through the FOMC meeting minutes yesterday. The details revealed that the Fed wasn’t too dovish in its subtle shift but perhaps markets were looking for something a little more hawkish. But as the dust settles, it seems like we’re going back to leaning more towards a 50 bps rate hike come September.
The implied odds of that has risen to ~62% now from ~40% prior to the day before.