Weekly Reports | Mar 12 2021
For a more comprehensive preview of next week's events, please refer to "The Monday Report", published each Monday morning. For all economic data release dates, ex-div dates and times and other relevant information, please refer to the FNArena Calendar.
By Greg Peel
The Biden Administration has finally put away its covid relief package and attention now turns to true stimulus, in the form of an infrastructure package. It is unclear how far down the track a proposed bill might be at this stage, given other distractions.
We can likely assume the Democrats will not wish to rush anything out too quickly before the dust of the relief package has settled, given the debate over size. We may be in for a quieter time on the US political front, while the vaccine rollout continues at a steady clip.
The US will see numbers for industrial production and retail sales next week, along with housing sentiment and starts.
The Fed meets next week and no doubt Jay Powell will look to hammer home the FOMC’s “no inflation scare” message yet again in his Wednesday night press conference.
China reports February industrial production, retail sales and fixed asset investment on Monday.
New Zealand reports December quarter GDP on Thursday. Bitter late thun niver.
The Banks of England and Japan both hold policy meetings next week.
If the local market hasn’t been volatile enough of late, things could get even more tempestuous next week. Today the quarterly changes to the ASX indices will be announced, becoming effective next Friday.
On Thursday, March quarter equity derivatives expire, including futures and index options. Note that the expiry will be cycling one year from the covid nadir.
Economically, we’ll see the February jobs numbers, and retail sales, and the minutes of the March RBA meeting.
The ex-div season starts to quieten down from next week, and most of the biggies have now made the adjustment.
Note that US summer time begins this Sunday, thus as of Tuesday morning the NYSE will close at 7am Sydney time, and the SPI Overnight futures the same.
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