Analysts at TD Securities note the markets are looking to the Fed's "Conference on Monetary Policy Strategy, Tools, and Communication Practices" for indications the Fed will make a dovish pivot to higher inflation "make-up" policies but are likely to be disappointed.

• “Importantly, this week is not a decision point for the Fed; rather, the conference will be heavy on academic analysis and lighter on Fed comments. The event will begin on Tuesday with opening remarks delivered by Fed Chair Jerome Powell.”