7/7/2021 1:48:11 AM GMT Fed minutes of June 15-16 FOMC may contain clues for taper policy. Suggestions of higher US rates will drive the dollar and Treasury yields higher. Federal Reserve rhetoric continues to stress the incomplete job recovery. Treasury rates have fallen since the June 16 meeting but the dollar has gained. The minutes of the April FOMC meeting were the opening move in the Fed’s long gambit to introduce higher interest rates without creating an economically destabilizing plunge in bond prices and a concomitant surge in yields. June’s minutes, which will likely include a discussion of the new economic and rate forecasts, will move the rate piece a square closer to the endgame.