Federal Open Market Committee (FOMC) Minutes
The minutes from the November 1st FOMC meeting will be posted at 2:00 PM ET this afternoon. They carry the potential to impact the financial and mortgage markets, although it is often minimally. Traders will be looking for any indication of the Fed's next move regarding monetary policy, particularly something that would hint that a rate increase will not come next month as it is widely expected to. If we get a reaction, it will come during mid-afternoon trading. This release is one of those that may cause some volatility in the markets after they are posted, or could be a non-factor. If they show anything surprising regarding when the Fed will raise key short-term interest rates again or their balance sheet reduction plan, we should see some movement in rates this afternoon, especially with many traders checked out by then for the holiday.