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[Bloomberg Markets]( [Forward Guidance]( [FOLLOW US [Facebook Share]]([Twitter Share]( [SEND TO A FRIEND [Share with a friend]]( Fed minutes say 'fairly soon,' Barclays' results push stock to highest in over a year, and Trump immigration policy update is delayed. Nearly there Yesterday's Federal Reserve minutes showed that officials thought a rate increase may be appropriate "[fairly soon](," to avoid overheating the U.S. economy. While the report was dovish enough to slightly [weaken the dollar](, it did not contain enough clear direction to cause a major market move. Mohamed El-Erian, Allianz SE’s chief economic adviser, warned investors that they are [underpricing the chances of a rate hike]( next month. There was something for data-visualization nerds, as the Fed said it will [add fan charts]( to its Summary of Economic Projections in future. Barclays profit Shares in Barclays Plc rallied 3.2 percent by 5:29 a.m. Eastern Time to the highest level of Chief Executive Officer Jes Staley's tenure, after the bank announced fourth-quarter pretax profit of [330 million pounds]( ($410 million). The institution's capital ratio climbed more than expected, and it said it was making progress in divesting unwanted assets. Glencore results, commodity currencies Glencore Plc announced results which contained a [48 percent jump]( in annual profit. Shares rose 2.6 percent by 5:35 a.m. as the company delivered the best trading results since 2008. The outlook may not be rosy for miners, and global growth, if [commodity currencies are any guide](. Nations such as Australia, South Africa and Brazil are seeing their currencies lose momentum as the Bloomberg Commodity Index goes into retreat. Sponsor content by Bank of America Merrill Lynch In our 2017 Year Ahead Outlook, topics addressed include Market Outlook, Investment Strategy, Rates, FX, Emerging Markets, Aerospace & Defense, Biotechnology and U.S. Equities. [Click here]( to watch the 2017 Year Ahead Videos. Markets flat Overnight, the MSCI AC Asia Pacific Index was [broadly unchanged](, while Japan's Topix index dropped 0.1 percent, as the yen strengthened against the dollar following the Fed minutes. In Europe, the [Stoxx 600 Index]( was also broadly unchanged by 5:45 a.m. and S&P 500 futures had [added one point](. Policy delay President Donald Trump has postponed the issuance of a new version of his immigration restriction order [until next week](, according to White House officials. Trump is due to meet with corporate CEOs today for a brainstorming session about crafting new policies on [taxes, job creation and trade](. Here's what you should read today Vive la difference: European stocks rally while [bond traders worry]( about political risk WTO head says organization can handle Trump's [trade concerns](. Bond trading [rebounds]( for the first time since 2012. The [europhile's case]( for Europe. The case [for experts](. U.K. millennials need to [quit their jobs](. Seven [Earth-like planets]( discovered orbiting nearby star. And finally, here’s what Joe’s interested in this morning Since Donald Trump became President, there's been a lot of debate about why the apparent chaos in The White House hasn't provoked more (or any) negative response from financial markets. There are all kinds of possible reasons for this. Maybe markets just ignore politics and watch hard data. Maybe the people asking the question are just biased against Trump, and judging markets through a partisan lens -- which tends to be a very bad idea. But let's just grant the broader premise, for the moment, that there has been chaos in the White House and that strong U.S. governance has seen better days. So why no market concern? Perhaps the answer is similar to why U.S. interest rates didn't rise during the debt-ceiling debates of 2011 and 2013, even though those debates were precisely about whether the U.S. would pay its debts. The U.S. financial system is, in a sense, the global economy's one constant. You could argue that the dollar doesn't ever actually move... It's other assets that move around the dollar. The U.S. dollar is in a sense the financial equivalent of the "inch," an unchanging unit that everything else is measured in. So if you're asking why political dysfunction (today, in 2013, or 2011) hasn't had more market impact, you're essentially asking why the length of an inch isn't changing. In theory it could happen. Official weights and measures can fall out of fashion over the long sweep of history. But it definitely doesn't happen overnight. You received this message because you are subscribed to the Bloomberg Markets newsletter. [Unsubscribe]( | [Bloomberg.com]( | [Contact Us]( Bloomberg L.P. 731 Lexington, New York, NY, 10022