Morning Note - June 16, 2021

Good Morning!

Today is Fed Day! I'm sure you all marked your calendar. Futures are basically flat as investors await Jay Powell's update, mainly around taper timing and inflation data. The 10-yr is flat at 1.49%. Commodities mixed as China moves to curb prices, pressuring metals; oil grinds higher. Dems to launch Reconciliation process to pass infra toda…