The weekly macro brief for w/c 6 January 2020 – This week, markets are likely to continue to follow geopolitical developments regarding the US and Iran. We will also hear more about a possible signing of the US-China phase one trade agreement. At this stage, there appears to be tentative plans for a delegation from China to visit the US for a 15 Jan signing.
On the data front, there are several important highlights this week;
In the US; Non-farm payrolls and employment data for Dec, ISM non-manufacturing PMI for Dec and factory orders for Nov.
There is also a speech of interest coming up this week by Vice Chair of the US Fed Richard H. Clarida on the U.S. Economic Outlook and Monetary Policy.
Data for Europe includes the final services PMI’s for Dec as well as Germany factory orders and industrial production for Nov.
Final services PMI’s for Dec will be released for the UK, Australia and China as well this week.
Aussie retail sales for Nov will also be released later this week.
It will be a lighter week for US Treasury settlements. The US Treasury will settle approx. $148bn in ST Bills this week, with a paydown of approx. $12bn. The US Treasury will auction approx. $78bn in notes and bonds this week, that will settle next week, raising approx. $32.6bn in new money.
More detail, including a one-page calendar of key data releases, is provided in the briefing document – download the file here;
Comments and feedback are welcome. Please email me at kim.mofardin@marscapitalpartners.net
