jeudi 26 mars 2015

3 Numbers: Central bankers speak, US GDP, US consumer sentiment

Today’s data calendar is light, and geopolitics, oil and Greece will likely dominate the markets until the next US employment report on April 3. A potential surprise today could be the smaller credit rating agency DBRS – it could downgrade Italy’s sovereign credit rating, which would cut 5% off the value of the bonds placed as collateral to the European Central Bank.



The spreads between Italian and Spanish bond yields against German bond yields have moved hand-in-hand during the Greek crisis, so markets might be caught off-guard if a downgrade comes after the close of the day’s trading. For other possible rating actions, see this calendar.



The Bank of England’s governor, Mark Carney, will be a panelist at the Bundesbank conference “Debt and Financial Stability – Regulatory Challenges” at 08:45 GMT. Live video feed here.



BoE’s deputy governor, Ben Broadbent, will be speaking on “Issues relevant to UK Monetary Policy” at the Imperial Business School at 09:15 GMT.



Federal Open Market Committee member Stanley Fischer speaks on “The Nonbank Financial Sector: Issues and Regulation" at the Bundesbank conference at 10:30 GMT. Live video feed here.



US Federal Reserve chair Janet Yellen will speak on, rather unimaginatively, “Monetary Policy” at the Federal Reserve Bank of San Francisco Conference “The New Normal for Monetary Policy” at 19:45 GMT.



US Fourth Quarter Gross Domestic Production, third estimate (12:30 GMT) The third estimate is expected to increase the growth rate to 2.4% from the second estimate’s 2.2%. The initial advance estimate was 2.6%. The strong labour market, consumer sentiment and auto sales are expected to pick up the growth rate toward 3% this year.




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3 Numbers: Central bankers speak, US GDP, US consumer sentiment

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