Brexit to drive asset pricing in week ahead
WEEKLY MARKET COMMENTARY |
The upcoming week in financial markets will see two major events. The first is Federal Reserve Chair Janet Yellen’s semi-annual testimony on monetary policy before the U.S. Congress on June 21 and June 22. She will likely stick closely to the recent Federal Reserve Open Market Committee statement that outlined a modestly weaker long-term growth path and a shallower pace of rate increases if the economy continues to grow above trend in coming years.
The other major event will be the vote in Britain on June 23 to remain or leave the European Union. Meanwhile, in the U.S. there is a relatively light week of economic data on tap led by home sales, durable goods orders and consumer sentiment.