Fed Minutes Tip Support For Modifying Hike Commitment, Presage Imminent IOER Tweak

It's probably safe to say that most of the Fed drama played out on Wednesday when Jerome Powell ignited a furious rally with his "just below neutral" walk back of the now infamous "long way from neutral" October misstep, but just in case traders needed a bit more to ponder, we of course got the November Fed minutes on Thursday. Coming in, expectations were that the minutes would continue to suggest that the committee is pleased with how the economy is performing and should also paint a picture