Morning, Traders!
It is Thursday the 23rd of March, and as the dust settles after yesterday FOMC day, here are some things to look out for today
Sentiment
Less than two weeks after the country's second-largest bank failure. Federal Reserve Chair Jerome Powell stated unequivocally that inflation remains policymakers' primary concern.
Markets were cautious on Thursday as a result of the Fed's decision to proceed with a quarter-point rate hike, combined with Treasury Secretary Janet Yellen's remarks.
While Powell stated that the actions of regulators demonstrated that "all depositors' savings are safe," Yellen stated that regulators are not looking to provide "blanket" deposit insurance.
A recession is unavoidable, as are interest rate cuts this year. That's the message from the bond market metric highlighted by Fed Chairman Powell a year ago as the best predictor of US economic trouble.
Docket
8:30 AM ET
US Weekly Jobless Claims Data
Initial Claims - Median Forecast: 198K | Prior: 192K | Range: 220K / 190K
Continued Claims - Median Forecast: 1.691M | Prior: 1.684M | Range:1.716M / 1.65M
10:00 AM ET
US New Home Sales Units for February
Median Forecast: 0.65M | Prior: 0.67M | Range: 0.7M / 0.605M
11:00 AM ET
Eurozone Consumer Confidence March Flash
Median Forecast: -18.2 | Prior: -19 | Range: -16 / -20
1:00 PM ET
US sells $15 bln 10 Yr TIPS
Speakers
11:00 AM ET
Bank of England's Mann speaks as a panelist at Peterson Institute for International Economics conference on floating exchange rates ‘the post-1973 currency regime and inflation experiences’ in Washington.
12:00 PM ET
European Central Bank's Lane participates in a panel discussion on Post-1973 Currency Regime and Inflation Experiences at the 'Floating exchange rates at fifty' conference in Washington, organized by the Peterson Institute for International Economics.
Good luck!
