Yesterday’s FOMC minutes indicate that the bank was in “if” mode, as in, if data supports a rate hike, U.S policy makers ‘could’ increase rates at the next meeting on June 14-15. Accompanying the “if” message were the usual disclaimers – the bank is of course concerned about the state of the economy, domestically and abroad. Nevertheless, it seems that Fed members also think the market has the odds of a June hike “unduly” low. That sentiment alone has now given the market the green light to actively price in a “live” June meet, and this despite Brexit event risk being around the corner (June 23). 1. U.K sales jump as ... (full story)