Fedspeak is on the agenda today

The Fed blackout ends today and there is a full slate of speakers who can't wait to talk.

The chief topic will be interest rates and the dissonance between Powell -- who essentially ruled out 75 bps at the June 15 meeting -- and the Fed funds futures Futures Futures or a futures contract represents a legal agreement to buy or sell a security or asset at a predetermined price at a specified time in the future. Of note, the parties are not known to each other.These transactions usually involve commodities or other securities involving the buying and selling for a forward or predetermined price.Futures also adhere to a delivery date, which specifies the date of delivery and payment. Relative to other forms of investing futures are much more complex, as Futures or a futures contract represents a legal agreement to buy or sell a security or asset at a predetermined price at a specified time in the future. Of note, the parties are not known to each other.These transactions usually involve commodities or other securities involving the buying and selling for a forward or predetermined price.Futures also adhere to a delivery date, which specifies the date of delivery and payment. Relative to other forms of investing futures are much more complex, as Read this Term market, which is pricing in an 83% chance of 75 basis points.

Here's the agenda:

• 9:15 am ET Williams opening remarks at an event
• 11 am ET Kashkari in a fireside chat
• 3:20 pm ET Bostic in a commencement address
• 7:15 pm ET Waller and Bullard on a panel
• 8 pm ET Daly commencement address

The hawks are after the weekly close but that will be an interesting one.