Good Morning Traders!
It is Wednesday the 29th of March, here are some things to look out for today.
Sentiment
The biggest banking scare since the 2008 financial crisis will reverberate throughout the economy for months as households and businesses struggle to obtain credit.
The Federal Reserve's internal watchdog has launched its own investigation into Silicon Valley Bank's failure, a spokesman confirmed, separate from the investigation led by the Fed's vice chair for supervision.
This morning, mortgage application data will be released, followed by pending home sales.
If recent financial system tensions are to be contained, the European Central Bank will need to raise interest rates further, Chief Economist Philip Lane told Zeit in an interview.
Docket
09:00 AM ET
SNB Quarterly Bulletin
10:00 AM ET
US Pending Home Sales Change MoM - Median Forecast: -3% | Prior: 8.1% | Range: 3% / -9%
10:30 AM ET
Weekly EIA Data
Crude Oil Inventories - Median Forecast: 1.1 | Prior: 1.117M
Speakers
10:00 AM ET
Fed's Barr testifies before the House Financial Services Committee.
12:30 PM ET
BoC’s Dep. Gov. Gravelle Speaks https://www.bankofcanada.ca/2023/03/speech-toni-gravelle-deputy/
14:50 PM ET
BoE's Mann speaks as a panellist at the 39th Annual National Association for Business Economics (NABE) Economic Policy Conference on ‘Inflation and Monetary Policy'
16:45 PM ET
ECB's Schnabel Speaks in a panel discussion at 39th Annual National Association for Business Economics’ Economic Policy Conference.
