U.S. Stock Futures Are Higher After Yesterday's Fed Minutes
U.S. stock futures are higher. The Fed’s minutes from yesterday revealed that the central bank is highly focused on lessening inflation and investors are placing higher bets that Powell and company will hike by 75 bps at the next meeting, which is scheduled for July 26th & 27th. Furthermore, the minutes acknowledged that the economy could experience a slowdown. Initial jobless claims from last week were 235K versus estimate of 230K and tomorrow the employment data will be released. Treasury yields are slightly higher and the curve is inverted, with the 2y at 3.01% and 10y at 2.94%. The euro/ dollar is edging close to parity at $1.0183 as the U.S rates are expected to inch higher. Asian and European markets are trading higher. British Prime Minister Boris Johnson resigned this morning after more than 50 ministers and senior government aides stepped down.