Focus returns to Europe as U.S. mulls timing of rate hikes
WEEKLY MARKET COMMENTARY |
Global investors will be focused intently on the European Union leaders meeting this week that will determine if Greece moves toward defaulting on its massive debt. If the results of the meeting are inconclusive, investors should expect a safe-haven move into U.S.-denominated assets, pushing long-term yields down and causing the dollar to appreciate further against major currencies.
In the U.S. there is a heavy slate of economic data on tap that will feature new information on the housing market, consumer prices, durable goods, consumer sentiment and the final estimate of growth for the fourth quarter of 2014. There will also be eight different Federal Reserve speakers fanning out across the globe to begin shaping investor expectations about the next step in policy normalization.