The week ahead: Quarterly portfolio rebalancing, Payrolls, PMI and EZ Inflation in focus

Read the key events to monitor for the week which starts on March 27, 2021.  

 

Stocks could be buffeted by end-of-quarter trading in the week ahead, as pension funds and other big investors buy bonds and sell stocks to rebalance their portfolios. That could cause some market volatility, ahead of the long Easter holiday weekend.

Payrolls and PMIs dominate the economic agenda for the week ahead, with the ECB’s latest analysis and eurozone inflation also in focus. The March US employment report is released on Good Friday, a market holiday, and it is expected to show more than 600,000 jobs were created in the month. Markets will also be focused on President Joe Biden’s infrastructure plan, which he is expected to unveil in Pittsburgh on Wednesday.

Markets will be meanwhile watching for news of further stimulus in the US in the form of additional infrastructure spending.

 

WEEK AHEAD CALENDAR


Monday

Earnings

Vaxcyte, Cal-Maine Foods

MacroUS: Dallas Fed manufacturing survey.Japan: Unemployment; Retail sales.
UK: money supply, mortgage approvals and consumer credit.

Tuesday

EarningsLululemon Athletica, Chewy, McCormick, BioNtech, FactSet, Blackberry, PVH

Monetary policyAtlanta Fed President Raphael Bostic; New York Fed President John Williams

MacroUS: S&P/Case-Shiller home prices; FHFA home prices; Consumer confidence.EU: Spain retail sales; Spain consumer price inflation; Italy price prices; Eurozone industrial and consumer sentiment; Germany consumer price inflation .


Wednesday

EarningsWalgreens Boots Alliance, Micron, Dave & Buster’s, Guess

Monetary policyBiden speech

MacroUS: ADP employment; Chicago PMI; Pending home sales; Atlanta Fed’s Bostic.Japan: Industrial production; Construction orders; Housing starts. China: NBS PMI manufacturing and non-manufacturing.EU: France consumer price inflation; Germany unemployment; Italy consumer price inflation; Spain current account; Eurozone consumer price inflation.UK: GDP, business investment and current account.

 

Thursday

EarningsCarMax

Monetary policyEuropean Central Bank Economic Bulletin

MacroUS: Initial jobless claims; Manufacturing PMI; ISM Manufacturing; Construction spending; Philadelphia Fed President Patrick Harker.Japan: Tankan surveyEU: Germany retail sales


Friday

Macro

US: Employment reportEU: France budget

 

Source: CNBC, Investopedia, Markit .  

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