W Week Ahead

Week Ahead – w12 (2021)

22 March, 2021
week ahead


Summary Key Macro Events

The European Union is ready to start withholding Covid-19 shots from the U.K., risking a sharp deterioration in relations with London in a bid to turn around its lackluster vaccination campaign – Bloomberg (from 22)

European Union foreign ministers are expected to sign off on a slate of punitive measures on Monday over human rights abuses, including sanctions directed at China – Bloomberg (22)

US trade representative Katherine Tai is likely to hold a call on Monday with her UK counterpart Liz Truss to discuss a trade deal – FT (22)

Richmond Fed President Thomas Barkin speaks to the Maryland Bankers Association. San Francisco Fed President Mary Daly hosts a virtual discussion on the future of education. Fed Vice Chair for Supervision Randal Quarles speak on Libor transition at virtual SOFR Symposium – Bloomberg (22)

German Chancellor Angela Merkel meets regional leaders to assess lockdown measures in the country amid discontent over the government’s rollout of vaccinations – Bloomberg (22)

ECB Governing Council member Klaas Knot speaks at Dutch central bank’s annual press conference (22)

Existing Home Sales for February ➡ I expect a downward surprise (22)

Sale of $60B in 2Y notes (23)

Parliamentary elections in Israel, the fourth in two years (23)

Federal Reserve’s Powell and Treasury Secretary Janet Yellen are expected to make their first joint appearance before the U.S. House Financial Services committee to testify on Fed and Treasury pandemic policies (23)

St. Louis Fed President James Bullard speaks to the London School of Economics. New York Fed President John Williams discusses the New York economy – Bloomberg (23)

ECB Governing Council member Francois Villeroy de Galhau speaks at presentation of the Bank of France’s annual report – Bloomberg (23)

Bundesbank President Jens Weidmann, BIS General Manager Agustin Carstensand the Fed’s Powell speak at BIS conference – Bloomberg (23)

BOE Governor Bailey speaks as a pre-recorded panelist on “unlocking investment for net zero”; Chief Economist Andy Haldane speaks on a panel on an Institute and Faculty of Actuaries webinar; and Deputy Governor Jon Cunliffespeaks on a panel at the BIS Innovation Summit on payments and central bank digital currencies – Bloomberg (23)

New Home Sales for February (23)

Manufacturing and Services PMIs (24)

Sale of $61B in 5Y notes (24)

Fed Chair Jerome Powell and Treasury Secretary Janet Yellen will take part in a remote hearing before the Senate Banking Committee on the quarterly CARES Act report to Congress (24)

New York Fed President John Williams takes part in a virtual discussion hosted by Syracuse University and Onondaga Community College. San Francisco Fed President Mary Daly will discuss her research on equitable growth. Chicago Fed President Charles Evans participates in a virtual Q&A hosted by the Japan America Society of Chicago – Bloomberg (24)

German cabinet is due to sign off on a 2022 budget plan. Finance Minister Olaf Scholz said the country needs to increase debt spending to help tackle the impact of the coronavirus (24)

Durable Goods Orders for February (24)

EU Leaders Summit includes topics ranging from Covid, industrial policy and the eastern Mediterranean to relations with Russia (from 25)

Sale of $62B in 7Y notes (25).

Facebook chief executive Mark Zuckerberg, Google’s Sundar Pichai and Twitter’s Jack Dorsey are on Thursday scheduled to testify at a remote US House of Representatives subcommittee joint hearing on the “misinformation and disinformation plaguing online platforms” – FT (25)

Transportation Secretary Pete Buttigieg will testify March 25 before a key U.S. House panel on the Biden administration’s infrastructure push – Reuters (25)

⚠ ECB’s Lagarde, BOE’s Bailey, ECB Governing Council members Weidmann and Villeroy, Riksbank Governor Stefan Ingves and New York Fed President John Williams speak on a panel at the BIS Innovation Summit about central bank innovation – Bloomberg (25)

New York Fed’s Williams speaks to the Urban Core of Syracuse. Chicago Fed President Charles Evans addresses the Women in Housing and Finance meeting. San Francisco Fed President Mary Daly discusses monetary policy in the Covid era. Economic Club of New York hosts a webcast with Fed President of Atlanta Raphael Bostic – Bloomberg (25)

Fed Vice Chair Richard Clarida speaks at the IIF Washington Policy Summit. U.S. Climate Envoy John Kerry will also participate – Bloomberg (25)

Personal Income and Spending for February (26)






Focus on Economic Calendar


Top 10 Macro/Financial Charts of the Previous Week – w11


What happened in the World Economy last Week – in charts – w11 (Bloomberg)