Fedspeak is always a market obsession, but lately that obsession has been turned up to 11, given all of the concern about slowing the pace of QE, and how far we are from the first rate hike.

Most likely his comments take the form  of "all according to plan" and ‘market way too aggressive in expecting FOMC hikes’ which will have be supportive for bond markets and USD negative, but have a half-life of impact until the next major data point, said Steven Englander of Citi (C).()