Market Insider

Watch yields if Fed minutes reveal taper talk

Jessica Rinaldi | The Boston Globe | Getty Images

Minutes from the Federal Reserve's October meeting could help determine the course of interest rates for the rest of the year.

The minutes, due at 2 p.m. ET Wednesday, will be watched for clues about the Fed's $85-billion-a-month bond-buying program. Some strategists do not expect to see much, if any, discussion of slowing bond purchases, but traders have been handicapping whether the minutes will show more Fed members leaning toward tapering.

(Read more: Yellen: In no rush to raise rates, start taper)

The Fed surprised markets with its decision not to taper its quantitative easing program in September, and it is believed spotty economic data coupled with the partial U.S. government shutdown and debt ceiling debate in Washington kept the Fed sidelined in October.