Financial markets will likely see a quiet week
WEEKLY MARKET COMMENTARY |
Investors are likely to observe another quiet week in financial markets that will remain sensitive to new policy announcements and personnel appointments out of the incoming U.S. administration, and the most recent Federal Open Market Committee minutes, which will probably reaffirm market expectations of a 25-basis point hike in December 2016. Beyond that there will be a modest week of fresh economic data, most of which will be organized around housing, labor market and durable goods data.
The U.S. Treasury will sell $26 billion in two-year notes, $13 billion in two-year floating rate notes reopening, $28 billion five-year notes and $34 billion in seven-year notes. In Canada, investors will get fresh retail sales information, in Europe a series of flash Purchase Manager Indexes, and on Wednesday, the U.K. Chancellor of the Exchequer will present the autumn statement, which should contain the government’s policy response to the European union referendum outcome.