Investors this week will be eagerly awaiting Federal Reserve Chair Jerome Powell's announcement on interest rates on Dec. 13 and wishing for an early Christmas present with a rate cut. But last week, CME FedWatch data showed that markets were pricing in about a 98% chance of rates staying put. Better than a hike or a lump of coal ...
The week ahead: Wishing for an early present from the Fed (but never got the BB gun either)
- U.S. core consumer price index data for November will be released on Dec. 12.
- U.S. retail sales figures for November come out Dec. 14.
- Dec. 14 will also see the release of U.S. initial jobless claims.
- SEC Commissioner Hester Peirce is scheduled to be among the featured speakers at "ETFs in Depth: The Next Wave of Innovation" on Dec. 14 at Bloomberg's global headquarters in New York.
- The SEC will meet Dec. 13 to consider finalizing a rule pertaining to central clearing for the Treasury market. The commission will also consider approving the 2024 budget for the Public Company Accounting Oversight Board.
- The Brookings Institution will host an event on Dec. 14 on financial data standardization, with speakers including Sen. Jack Reed, D-R.I., and Nellie Liang, undersecretary for domestic finance at the Treasury Department.
- The Department of Labor's Employee Benefits Security Administration will hold a virtual hearing on Dec. 12-13 for interested parties to provide feedback on its new Retirement Security Rule proposal. The proposal would amend the definition of the term "fiduciary" and require rollover advice be in the best interest of the saver. Industry stakeholders who give retirement advice largely oppose the idea.
- The Federal Open Market Committee concludes its two-day meeting on Dec. 13. Market watchers expect the Fed to hold interest rates steady.
The U.K.'s unemployment rate for October will be released Dec. 12.
On Dec. 13, U.K. gross domestic product data for October is scheduled to come out.
The Bank of England will announce its interest rate decision on Dec. 14.
The European Central Bank will also announce its interest rate decision on Dec. 14.
- On Dec. 14, China's unemployment rate for November as well as retail sales data will be released.
- Data on China's industrial production through November comes out on Dec. 14.