Minutes of January's FOMC meeting will still show an underlying tightening bias: Standard Chartered

Quotes from Standard Chartered:

-The minutes of January's FOMC meeting (Wednesday, 14:00 ET) will help us assess the debates underlying the January statement, and to gauge whether to expect some changes during March's meeting-chiefly whether the keyword "patience" is removed or not.

-Although we expect the minutes' tone to be broadly balanced, we think they will still show an underlying tightening bias, particularly when seen in the light of the strong January employment report (which the Fed did not have on hand at its meeting).

-As a result, we think the minutes should pave the way for the removal of "patience", barring negative surprises in the data in the meantime.