W Week Ahead

Week Ahead – w21 (2021)

24 May, 2021

Summary Key Events

🇪🇺 European Council leaders summit held in Brussels. In this special session leaders will discuss how to achieve the EU’s 2030 target of cutting greenhouse emissions. Other topics include the pandemic, the U.K., and Russia – Bloomberg (24 & 25)

🇺🇸 Cleveland Fed President Loretta Mester makes opening remarks on diversity and central bank communication. Kansas City Fed President Esther Georges peaks at an agricultural symposium. Atlanta Fed President Raphael Bostic discusses the public policy response to Covid-19 – Bloomberg (24)

⚠ 🇺🇸 Consensus by CoinDesk brings prominent crypto voices together to discuss NFTs, exchanges and the role of central banks. Fed Governor Lael Brainard and Bridgewater founder Ray Dalio will participate – Bloomberg (from 24 to 27)

⚠ BOJ Governor Haruhiko Kuroda, Riksbank Governor Stefan Ingves, and ECB Chief Economist Philip Lane participate at the 2021 BOJ-IMES Conference – Bloomberg (25)

🇪🇺 Bank of France Governor Francois Villeroy de Galhau speaks at Danske Bank event – Bloomberg (25)

🇬🇧 BOE policy maker Silvana Tenreyro gives the Guido di Tella Memorial Lecture, titled “Economic Challenges from the Pandemic,” at the Latin America Centre in Oxford – Bloomberg (25)

🇺🇸 Fed Vice Chair for Supervision Randal Quarles gives semi-annual testimony before the U.S. Senate Banking Committee – Bloomberg (25)

🇺🇸 S&P Corelogic CS 20-City for March (25) ➡ On a YoY, I expect an upward surprise (Bloomberg consensus: 12.55%)

🇺🇸 New Home Sales for April (25)

🇺🇸 Conference Board Consumer Confidence for May (25)

🇺🇸 CEOs of the largest U.S. banks, including JPMorgan and Goldman Sachs, will testify before lawmakers in the Senate Banking and House Financial Services committees. Hearings were organized by Democrats strongly critical of Wall Street – Bloomberg (26 & 27)

🇪🇺 ECB Governing Council member Francois Villeroy de Galhau speaks at the French National Assembly finance committee.

🇬🇧 BOE policy maker Gertjan Vlieghe gives a speech hosted by the Department of Economics and the Institute for Policy Research at the University of Bath, on the topic of “What government bond yields can tell us about future growth and inflation.” – Bloomberg (26)

🇪🇺 ECB Vice President Luis de Guindos speaks at a virtual conference on the topic of financial integration. Executive Board member Frank Elderson moderates a panel – Bloomberg (26)

🇪🇺 Bank of France Governor Francois Villeroy de Galhau speaks at the Finance Committee of France’s National Assembly – Bloomberg (26)

🇺🇸 Fed Vice Chair for Supervision Randal Quarles discusses the economic outlook hosted at the Brookings Institution’s Hutchins Center on Fiscal and Monetary Policy – Bloomberg (26)

🇪🇺 ECB Executive board member Isabel Schnabel speaks at the Forum New Economy about a new mandate for central banks – Bloomberg (27)

🇪🇺 Speech held by Dr Jens Weidmann on the occasion of the 70th anniversary of the German Economic Institute – Bloomberg (27)

🇺🇸 Durable Goods Orders for April (27)

🇺🇸 1Q GDP QoQ – 2nd estimate (27)

🇬🇧 U.K. Chancellor Rishi Sunak hosts a virtual meeting of G-7 finance ministers and central bank governors ahead of the in-person June gathering – Bloomberg (28)

⚠ Speakers today at the Global Solutions Summit include German Chancellor Angela Merkel, Italian Prime Minister Mario Draghi, UN Secretary-General Antonio Guterres and OECD Secretary-General Angel Gurria – Bloomberg (28)

🇪🇺 Bank of France Governor Francois Villeroy de Galhau speaks at the presentation of the annual report of banking supervisor ACPR – Bloomberg (28

🇺🇸 U.S. President Joe Biden’s administration on Friday will release its first full budget request to Congress – Nikkei (28)



Focus on U.S. Economic Calendar

Top 10 Macro/Financial Charts of the Previous Week – w20

What happened in the World Economy last Week – in charts – w20 (Bloomberg)

*Note: Previous reports can be found here