Wall St investors to look for clues on how Fed will react to yuan devaluation

NEW YORK: Investors will comb through Wednesday’s minutes of the most recent Federal Reserve meeting for indications on how the US central bank will react to the recent yuan devaluation and the further decline in oil prices.

The recent outperformance of bank stocks and underperformance of utilities, both on expectations of higher Treasury yields, support current market bets that the Fed will raise rates for the first time in nearly a decade after its mid-September meeting.