Focus to Janet Yellen’s testimony - TDS

Research Team at TDS, suggests that with no economic data on the calendar, market’s will shift focus to Janet Yellen’s testimony to the Senate Banking Panel which will precede the Humphrey Hawkins congressional testimony on Wednesday.

Key Quotes

“Yellen’s comments to the Senate will come at 10:00 EDT and are likely to mirror the cautious optimism reflected in the June SEP, providing a fairly constructive outlook for the US economic and labor market recovery while highlighting the many risk factors clouding the outlook. Similar to the post-FOMC press conference, Yellen is likely to strike a fairly dovish tone as she underscores the gradual pace of tightening going forward and the lingering concerns about the subpar inflation performance.”