The yields are little lower. Stocks are little higher and the US dollar is a little lower after the FOMC meeting minutes.

The chance of a 50 basis point hike at the March meeting is back below 50%.

The snapshot of thee market currently shows:

Having the concerned about 50 basis point hike takes some of the pressure off of the market. Also the balance sheet fearrs have been abated as the Fed is intent on reducing the securities holdings over time in a predictable manner primarily by adjusting the amounts from the maturing securities. The Fed reiterated that the federal funds rate is the primary means of adjusting the stance of monetary policy.