Financial Roadmap: The Week Ahead March 9 to 13, 2009
The economic statistics due out early this week will be largely overshadowed by politics and corporate finance as political jockeying continues in the banking, insurance and auto industries. With Ben Bernanke scheduled to speak Tuesday to the Council on Foreign Relations, don't expect any core economic news to really move markets until Thursday's retail sales report.
The consensus is for a drop in US retail sales and retail sales excluding autos. With autos included, I concur, but I expect retail sales less autos to begin a recovery any time. The much esteemed economist Nouriel Roubini began predicting the current financial mess and its economic consequences as imminent roughly three years before they actually happened. The recovery in retail sales is much less than 3 years away. You can call me Dr. Sunshine and invite me to Manhattan cocktail parties when it happens.
Friday, the Commerce Department will report on international trade and the Labor Department will report on import and export prices on Friday. The recovery in trade is much further down the road and will likely be led by the US consumer sector.
|
Day / Date |
Monday |
Tuesday |
Wednesday |
Thursday |
Friday |
|
Indicators |
Employment Trends Index from the Conference Board |
Wholesale Trade from the Commerce Department
Weekly Redbook Retail Index |
Monthly federal budget from the Treasury Department
Weekly Mortgage Applications Survey from the Mortgage Bankers Association Weekly Petroleum Inventory Report and This Week in Petroleum from the Energy Information Administration |
February Retail Sales from the Commerce Department
Weekly Jobless Claims report from the Employment and Training Administration Weekly Money Supply (M1 and M2) from the Federal Reserve Weekly Natural Gas Report from the Energy Information Administration |
International Trade from the Commerce Department
Import/Export Price Indexes from the Bureau of Labor Statistics |
|
Treasury Auctions and Announcements |
11 AM: 4-Week T-Bill Announcement
1 PM: 3-Month and 6- Month T-Bill Auctions |
1 PM: 4-Week T-Bill Auction
1 PM: 52-Week T-Bill Auction 1 PM: 3-Year Treasury Note Auction |
1 PM: 10-Year Treasury Note Auction |
11 AM: 3-Month and 6-Month T-Bill Announcements
1 PM: 30-Year Treasury Bond Auction |
None |
*See more information on the Financial Roadmap series here. Earnings reports are companies of interest, NOT recommendations.
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