US
The US labor market is slowing down, but it is still tight. That should give policymakers the opportunity to raise rates again at their May 3rd policy meeting. Now, the focus shifts to whether disinflation trends are able to get back on track. The March inflation report is expected to show a slower monthly pace of 0.2%, down from 0.4%, while headline inflation reading is expected at 5.2% year on year, down from February’s 6.0%. A soft March in spending is also predicted by the March Retail Sales Report.
Fed minutes will be reviewed and comments from a few Fed speakers will be examined. These comments could indicate that Fed policymakers are close to the end of this tightening cycle. Fed’s Williams speaks on Monday, Fed’s Goolsbee, Harker, and Kashkari talk on Tuesday. Wednesday contains an appearance by Fed’s Barkin.
Wall Street will be paying close attention to the statements of Wall Street’s big banks during earnings season. JPMorgan, Citigroup, Wells Fargo and Citigroup will give an assessment of their balance sheets and the health and well-being of the US consumer. They will also discuss whether there were significant flows resulting from the turmoil caused by SVB and other factors.
Eurozone
Next week isn’t just shortened…
