First-tier economic releases and policy talk this week
WEEKLY MARKET COMMENTARY |
The upcoming week in financial markets will see a bevy of first-tier economic releases and policy talk from an array of elected and appointed political actors. On Feb. 28, President Trump will address a joint session of Congress. This is not a state of the union address so investors that have priced in details on taxes and regulations may find themselves somewhat disappointed and thus recent movements in markets across asset classes may be mispriced. Beyond that, fresh information on housing, inventories, inflation, income and spending, consumer sentiment and growth to close out 2016 are on the docket for the week.
The Federal Reserve (Fed) will send 10 speakers to address markets this week with the major event being Fed Chair Yellen’s speech on the economic outlook in Chicago. The Bank of Canada will conduct a policy meeting on Wednesday and the Canadian Q4 2016 gross domestic product (GDP) will be published the following day. In the euro area, the Harmonised Index of Consumer Prices inflation estimate will be published on Thursday, UK Purchase Managers’ Index (PMI) estimates on Wednesday and Friday, and the Spain and Italian PMI on those same days. Down under, the Australian Q4 2016 GDP estimate will be released on Wednesday.