The week ahead: The Fed could remain a source of angst for markets

Read the key events to monitor for the week which starts on March 22, 2021.  

 

The direction of bond yields could continue to drive stocks this week as the 10-year yield reached a high of 1.75% this past week, its highest level in 14 months.

The Federal Reserve could remain a source of angst for markets in the week ahead as Fed Chairman Jerome Powell testifies before Congress twice this week.

On the macro side, US Personal consumption expenditures inflation data will be released at the end of the week. 

 

WEEK AHEAD CALENDAR


Monday

Earnings

Tencent Music Entertainment

Monetary policy

Fed Chairman Jerome Powell at Bank for International Settlement summit; San Francisco Fed President Mary Daly; Fed Vice Chairman Randal Quarles; Fed Governor Michelle Bowman.

People's Bank of China (PBoC) Loan Prime Rate Announcement.

MacroUS: Existing home sales
Tuesday

EarningsAdobe, IHS Markit, DouYu, GameStop, Steelcase

Monetary policySt. Louis Fed President James Bullard; Fed Chairman Powell, Treasury Secretary Janet Yellen at House Financial Services Committee; Fed Governor Lael Brainard; New York Fed President John Williams; Fed Governor Brainard.

MacroUS: New home sales; Treasury auctions $60 billion 2-year notes.UK: Unemployment Rate; Average Earnings Index.


Wednesday

EarningsGeneral Mills, Shoe Carnival, KB Home, RH, Tencent, Embraer, Winnebago

Monetary policyFed Chairman Powell, Treasury Secretary Yellen at Senate Banking Committee; New York Fed’s Williams; San Francisco Fed’s Daly; Chicago Fed President Charles Evans

MacroUS: Durable goods; Manufacturing PMI; Services PMI; Treasury auctions $61 billion 5-year notes.

U.K: Consumer Price Index (CPI); U.K. Producer Price Index (PPI).

Thursday

EarningsDarden Restaurants

Monetary policyNew York Fed’s Williams; Fed Vice Chairman Richard Clarida; New York Fed’s Williams; Chicago Fed’s Evans; San Francisco Fed’s Daly. 

MacroUS: Initial jobless claims; Q4 GDP third reading; Treasury auctions $62 billion 7-year notes. 

EU: German GfK German Consumer Climate Index. 

Japan: Tokyo Core CPI.

Friday

MacroUS: Personal income/spending; Advance economic indicators; U.S. Preliminary Michigan Consumer Sentiment and Expectations.

UK: Retail Sales.

EU: German Ifo Business Climate Index. 

 

Source: CNBC, Investopedia.  

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