W Week Ahead

Week Ahead – w20 (2021)

17 May, 2021
christophe-barraud-week-ahead-2021

Summary Key Events

🇺🇸 Senate Republicans are set to deliver a revised offer of a package that includes roads, public transportation and airports to the White House as early as Monday – Bloomberg (17)

⚠ French President Emmanuel Macron hosts the Paris Peace Forum Spring meeting, which is broadcast live on a YouTube channel. Speakers include Melinda French Gates, Ngozi Okonjo-Iweala and Tedros Adhanom Ghebreyesus – Bloomberg (17)

🇩🇪 🇨🇳 A human rights committee in the Bundestag will hold a public hearing on Monday on abuses against China’s Uyghur population – Nikkei (17)

🇺🇸 Fed Vice Chair Richard Clarida and Atlanta Fed President Raphael Bostic will have an armchair discussion at the Atlanta Fed’s annual Financial Markets Conference. Clarida gives the opening speech – Bloomberg (17)

🇺🇸 Empire Manufacturing for May (17)

🇺🇸 NAHB for May (17) ➡ The consensus (at 83e, unchanged from prior month) looks optimistic ⚠ in a context where the Fannie Mae Home Purchase Sentiment Index retraced recently. In the meantime, homebuilders have been facing a spike in building costs that rattles operational margin.

⚠ French President Emmanuel Macron hosts the Summit on Financing African Economies, in Paris. Other attendees include Italian Prime Minister Mario Draghi and European Commission President Ursula von der Leyen – Bloomberg (18)

China’s three biggest telecom companies will be delisted from the New York Stock Exchange on Tuesday, in line with investment restrictions issued under Donald Trump’s administration – Nikkei

🇺🇸 Housing Starts and Building Permits for April (18)

🇺🇸 Dallas Fed President Robert Kaplan takes part in a panel discussion moderated by Atlanta Fed’s Raphael Bostic, during his bank’s annual Financial Markets Conference – Bloomberg (18)

🇪🇺 ECB Executive Board member Fabio Panetta and Governing Council member Olli Rehn participate in the Finnish Payments Forum. ECB Chief Economist Philip Lane speaks at the Dublin Climate Dialogues – Bloomberg (19)

🇺🇸 The Official Monetary and Financial Institutions Forum holds a fireside chat with St. Louis Fed President James Bullard. Atlanta Fed President Raphael Bostic is interviewed during a Businessweek/Bloomberg Live event – Bloomberg (19)

🇺🇸 FOMC Minutes (19)

🇪🇺 ECB President Christine Lagarde, Governing Council member Robert Holzmann and IMF Managing Director Kristalina Georgieva speak at a conference on “Gender, Money and Finance,” hosted by the Austrian National Bank – Bloomberg (20)

🇪🇺 ECB Chief Economist Philip Lane and Eurogroup President Paschal Donohoeparticipate in a webinar discussion on Europe and the global economy – Bloomberg (20)

🇺🇸 Phialdelphia Fed Manufacturing Survey for May (20)

🇩🇪 The three candidates hoping to succeed Angela Merkel as German chancellor debate EU policy – Bloomberg (20)

🇺🇸 U.S. Commerce Secretary Gina Raimondo holds a summit to discuss the global semiconductor shortage. Google, Amazon, Samsung and TSMC are among the invitees – Bloomberg (20)

🇺🇸 🇰🇷 President Joe Biden will meet with South Korean President Moon Jae-in at the White House. North Korea and a vaccine partnership will be high on the leaders’ agenda – Bloomberg (21)

🇺🇸 The Dallas Fed hosts a virtual technology conference. Speakers include Fed presidents Raphael Bostic (Atlanta), Robert Kaplan (Dallas) and Thomas Barkin (Richmond) – Bloomberg (21)

🇪🇺 Euro-area finance ministers and central bank chiefs hold an informal meeting. A larger group of EU finance ministers and central bank chiefs will meet on Saturday – Bloomberg (21 & 22)

🇮🇹 Italy and the European Commission co-host the G-20 Global Health Summit in Rome – Bloomberg (21)

🇯🇵 🇪🇺 🇬🇧 🇺🇸 Manufacturing and Services PMIs for May (21)

🇺🇸 Existing Home Sales for May (21)



Earnings


Previews

https://twitter.com/C_Barraud/status/1393973858760372224?s=20
https://twitter.com/C_Barraud/status/1394183522043183104?s=20
https://twitter.com/C_Barraud/status/1394234053394632705
https://twitter.com/C_Barraud/status/1393926683137396736?s=20

Focus on U.S. Economic Calendar


Top 10 Macro/Financial Charts of the Previous Week – w19

https://twitter.com/C_Barraud/status/1394205207899344896?s=20

What happened in the World Economy last Week – in charts – w19 (Bloomberg)


*Note: Previous reports can be found here