Fannie Mae-No Politics (FNMA)

[Dollars1]

Yellen appears before the Senate Banking, Housing, and Urban Affairs Committee at 10 a.m. ET. With economic data recently showing better conditions in the labor market, investors will monitor her comments for a sense of when the Fed will start raising interest rates. In particular they'll be looking for indications that a hike is coming in June or September.

Attention will focus on how soon policy-makers plan to raise interest rates now that employment and wages are improving. In particular, discussion will focus on whether the next Fed statement on March 19 will drop a phase about being "patient."

Other events on the calendar include the Case-Shiller index of home prices at 9 a.m. and consumer confidence at 10 a.m.

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