Bust data week as the end of summer nears
WEEKLY MARKET COMMENTARY |
As summer in the U.S. draws to a close, investors remain risk-averse as concerns mount about a global economic deceleration and the direction of U.S. monetary policy. Given the traditional thin trading that occurs as the U.S. heads toward the Labor Day holiday, the risk of another week of stomach-churning volatility in global asset markets remains. While wary investors will keep one eye focused on the deteriorating situation in China, the other will be directed toward the August U.S. employment report this Friday and a bevy of other top tier-data that be published this week. Among the releases will be fresh information on the service sector, manufacturing, trade and total vehicle sales.
The Federal Reserve will publish its Beige Book on Wednesday and Richmond Fed President Jeffrey Lacker will make the “Case Against Further Delay” on rate hikes Friday morning.