Federal Open Market Committee (FOMC) Minutes
They also signaled the Fed will likely taper and possibly end bond purchases altogether before they start raising key short-term interest rates, which is expected to take place near the end of 2023. Overall, there were no major surprises but enough information to draw attention of bond traders. Bonds did move in the wrong direction after the minutes were posted at 2:00 PM ET. However, they had already weakened from morning levels before they were posted, and it was not enough of a move to fuel widespread intraday rate changes.