Chinese Prime Minister Li Keqiang closes the annual National People’s Congress, at which an economic growth target of 7.5 percent was set.
European Union Foreign Policy Chief Catherine Ashton will visit Iran ahead of March 17 nuclear talks.
SATURDAY, MARCH 8
-Kerry’s humor. U.S. Secretary of State John Kerry tries his hand at humor as the guest speaker at the Gridiron Club’s spring dinner. The annual ritual brings together journalists and government leaders for an evening of jokes and skits. 22:00 in Washington.
-China’s trade balance for February is forecast to be less than half of January’s as export and import growth shrank. 10:00 in Beijing (03/07 21:00 EST).
-PGA Tour. The $9 million World Golf Championships-Cadillac Championship continues. Tiger Woods won last year for a seventh time. In Miami. Through March 9.
SUNDAY, MARCH 9
-Daylight saving time. Clocks in most of the U.S. and Canada spring forward one hour at 02:00 in the morning. U.S. East Coast time is now called Eastern Daylight Time (EDT) and is four hours behind Greenwich Mean Time.
-European Union Foreign Policy Chief Catherine Ashton visits Iran ahead of the next round of nuclear talks scheduled for March 17 in Vienna. The two-day trip will be her first to the country.
-U.K. Deputy Prime Minister Nick Clegg speaks in York, northern England, at the spring conference of his Liberal Democrats, the junior party in Prime Minister David Cameron’s coalition government. 11:45 U.K. time (07:45 EDT).
-German Chancellor Angela Merkel and British Prime Minister David Cameron speak at the opening of the CeBIT technology show in Hanover, Germany, where the U.K. is this year’s featured country. 18:00 CET (13:00 EDT).
-El Salvador presidential runoff. Vice President Salvador Sanchez Ceren, who has called for closer ties with Venezuela, is favored to defeat Norman Quijano after taking 49% in the Feb. 2 first-round vote. The yield on El Salvador’s dollar bonds rose the most in emerging markets after Sanchez Ceren’s performance. Polls close at 17:00 (19:00 EDT).
-North Korea holds an election for the Supreme People’s Assembly, giving an insight into which politicians and members of Kim Jong Un’s family remain in favor.
-England hosts Wales at Twickenham in rugby’s Six Nations tournament. 15:00 local time (11:00 EDT).
MONDAY, MARCH 10
-White House budget details. The Office of Management and Budget releases backup documents, including policy analysis and historical tables, in support of President Barack Obama’s proposed $3.9 trillion fiscal 2015 budget, which was sent to Congress March 4. Online at http://www.whitehouse.gov/omb/. 09:00 in Washington.
-Kazakhstan President Nursultan Nazarbayev arrives in Moscow for a two-day visit, where topics of discussion are likely to include the crisis in Ukraine, the Russia-led customs union and energy issues. Time TBA.
-Deutsche Bank Media, Internet & Telecom Conference. Speakers include Charter Communications Inc. Chief Executive Officer Tom Rutledge (14:15) and Liberty Media Corp. CEO Greg Maffei (18:00) today, and Time Warner Inc. CEO Jeff Bewkes (11:30) on March 11. In Palm Beach, Florida. Through March 12.
-European Central Bank Governing Council member Christian Noyer opens a conference in Paris on “Monetary Policy and Banks and the Rise of Global Protectionism.” 09:00 CET (04:00 EDT). Noyer and Federal Reserve Bank of Philadelphia President Charles Plosser speak on a panel at 11:15 CET.
-China Association of Automobile Manufacturers issues auto-sales data for February. Passenger-car sales the previous month rose at the slowest pace since February 2013. 14:00 in Beijing (02:00 EDT).
-China will report new local-currency lending, aggregate financing and M2 money supply for February, after new yuan loans reached a three-year high and aggregate financing hit a record in January. Due anytime from March 10-15.
-MetalBulletin holds its annual International Copper Conference in Milan. Through 03/12.
-Norway’s government starts its budget conference, setting the framework for spending through next year. It begins with a press conference with Prime Minister Erna Solber and Finance Minister Siv Jensen in Hurdal, Norway, at 09:15 CET (04:15 EDT).
-Cyprus Finance Minister Haris Georgiades speaks in Brussels on the country’s bailout. 12:00 CET (07:00 EDT).
-ECONOMY: Japan current account (Jan.), Israel gross domestic product (fourth quarter), Turkey industrial production (Jan.), Egypt consumer price inflation (Feb.), Spain industrial output (Jan.), French industrial output (Jan.), Italian industrial output (Jan.).
TUESDAY, MARCH 11
-U.S. budget hearings. The House Appropriations Committee, led by Kentucky Republican Hal Rogers, begins hearing four days of testimony from administration officials on President Barack Obama’s budget plan. The officials include Homeland Security Secretary Jeh Johnson at 16:00 today; Secretary of State John Kerry, U.S. Coast Guard Admiral Robert Papp Jr., Transportation Secretary Anthony Foxx and U.S. military officials on March 12; Defense Secretary Chuck Hagel on March 13; and Agriculture Secretary Tom Vilsack on March 14.
-Bank of England hearing. Governor Mark Carney and members of the Monetary Policy Committee will take questions from lawmakers on the central bank’s February Inflation Report. London 09:30 (05:30 EDT). There will be a second session with Carney on the economics of currency unions at 11:30.
-U.S. bond auctions. The Treasury Department is scheduled to sell $30 billion in three-year notes today, $21 billion in 10-year notes tomorrow and $13 billion in 30-year bonds on March.13.
-Ex-Madoff employees’ fraud, conspiracy trial. A jury may begin deliberating on charges that five former employees of Bernard L. Madoff participated in his Ponzi scheme, falsified records and evaded taxes. Defendants include Daniel Bonventre, Madoff’s former operations director. In Manhattan.
-SoftBank Corp. (9984) Chief Executive Officer Masayoshi Son, whose company owns Sprint Corp., speaks about the Internet and mobile devices. SoftBank is said to be pursuing further U.S. acquisitions and has argued that merging Sprint and T-Mobile US Inc. would balance the power of AT&T Inc. and Verizon Communications Inc. 12:00, U.S. Chamber of Commerce, Washington.
-U.S. Nuclear Regulatory Commission Chairman Allison Macfarlane speaks at the agency’s Regulatory Information Conference, attended annually by industry leaders and regulators. Macfarlane’s remarks coincide with the third anniversary of Japan’s Fukushima Dai-Ichi nuclear disaster. 08:30 in Rockville, Maryland. Through March 13.
-The Bank of Japan will announce monetary policy at the end of a two-day meeting in Tokyo. The meeting usually ends about 12:00 local time (03/10 23:00 EDT) and is followed by a press conference with Governor Haruhiko Kuroda at 15:30.
-ECONOMY: JOLTs U.S. job openings (Jan.), U.S. wholesale inventories (Jan.), Brazil industrial production (Jan.), South Africa business confidence index (first quarter), U.K. industrial production (Jan.), German trade balance (Jan.), Italian GDP (ITPIRLQS) (fourth quarter).
-National Football League free agency begins, giving out-of-contract players including Philadelphia Eagles quarterback Michael Vick the right to talk to other teams.
-AC Milan plays away to Atletico Madrid in a second-leg match in European soccer’s Champions League round of 16. Atletico leads 1-0 after the first game. Defending champion Bayern Munich, with a 2-0 lead, hosts Arsenal. Both games are at 20:45 CET (15:45 EDT).
WEDNESDAY, MARCH 12
-“The ECB and Its Watchers” conference in Frankfurt. ECB Executive Board members Peter Praet and Benoit Coeure are among the speakers.
-ECB Governing Council Member Luis Maria Linde speaks in Madrid. 09:00 CET (04:00 EDT).
-The CIS Sugar Market 2014 conference takes place in Moscow. 10:00 (02:00 EDT). Through 03/13.
-The Organization of Petroleum Exporting Countries publishes its Monthly Oil Market Report. 12:00 in London (08:00 EDT).
-The Thai central bank is expected to lower its benchmark interest rate to 2 percent, according to three of five economists surveyed by Bloomberg, as political turmoil weighs on economic growth. 14:30 in Bangkok (03:30 EDT).
-ECONOMY: U.S. monthly budget statement (Feb.), Brazil inflation (Feb.), South Korean unemployment (Feb.), South Korean bank lending to households (Feb.), South Africa current account balance (fourth quarter), Turkey balance of payments current account (Jan.), U.K. trade balance (Jan.), euro-area industrial production (Jan.).
-Manchester City plays at Barcelona in a second-leg game in the Champions League round of 16. Barcelona has a 2-0 lead from the first match. Bayer Leverkusen, trailing 4-0, is away to Paris Saint-Germain. Both games are at 20:45 CET (15:45 EDT).
THURSDAY, MARCH 13
-U.S. retail sales probably rose in February from a month earlier, according to a Bloomberg survey, a sign that consumer spending is stabilizing after winter storms reduced purchases by the most since June 2012. Consumer spending accounts for about 70 percent of the economy. The Commerce Department will issue the figures at 08:30 in Washington.
-Fed nomination hearing. Former Bank of Israel Governor Stanley Fischer testifies before the Senate Banking Committee on his nomination to serve as Federal Reserve vice chairman. 10:00 in Washington.
-The Reserve Bank of New Zealand is expected to raise its key interest rate to 2.75 percent, according to economists in a Bloomberg survey, amid surging home prices and accelerating inflation. 09:00 in Wellington (03/12 16:00 EDT).
-Bank Indonesia (IDBIRATE) will set its benchmark interest rate after it held borrowing costs steady at 7.5 percent last month as a narrowing current-account deficit and slowing inflation reduced the need for tighter policy. Timing not confirmed.
-Bank of Korea holds its policy board meeting, the last one for Governor Kim Choong Soo, whose term ends on March 31. President Park Geun Hye last week nominated 35-year BOK veteran Lee Ju Yeol to succeed Kim. 10:00 in Seoul (03/12 21:00 EDT).
-Chinese Prime Minister Li Keqiang closes the annual National People’s Congress. China set an economic growth target of 7.5 percent and announced a 12.2 percent increase in defense spending at the meeting. Li will hold a rare press conference at the closing of the legislative meeting.
-The LNG Congress Russia 2014 takes place in Moscow. 10:00 (02:00 EDT). Through 03/14.
-The U.S. Energy Information Administration releases its weekly natural gas supply report. 10:30 in Washington.
-ECONOMY: U.S. initial jobless claims (weekly), Bloomberg U.S. consumer comfort (weekly), Brazil retail sales (Jan.), Mexico industrial production (Jan.), Japan machinery orders (Jan.), China fixed assets, retail sales, industrial production (Feb.), Hong Kong industrial production (fourth quarter), South Africa mining production (Jan.), South Africa manufacturing production (Jan.), U.K. RICS house-price index (Feb.), Spanish retail sales (Jan.).
-PGA tour. The $5.7 million Valspar Championship begins. Kevin Streelman won last year. Tee times to be determined. Innisbrook Resort in Palm Harbor, Florida. Through March 16.
FRIDAY, MARCH 14
-SAC Capital’s guilty plea. A U.S. district judge will accept or reject hedge-fund SAC Capital Advisors LP’s November insider-trading guilty plea and $1.8 billion fine negotiated with the U.S. 15:00 in Manhattan.
-Bank of England publishes its quarterly bulletin.
-Russia’s central bank, which raised interest rates at an emergency meeting on March 3, holds its scheduled monetary-policy meeting. Announcement at 10:30 in Moscow (02:30 EDT).
-German Chancellor Angela Merkel makes a speech and answers questions at a Munich conference at 12:30 CET (07:30 EDT).
-The International Monetary Fund presents a statement on Finland’s economy at 14:30 in Helsinki (08:30 EDT).
-ECONOMY: U.S. producer price index (Feb.), University of Michigan U.S. consumer confidence (March-preliminary), Israel consumer price inflation (Feb.), U.K. construction output (Jan.), German inflation (Feb.).
-CENTRAL BANKS: Bank of Japan minutes.
-SOVEREIGN RATING UPDATES: European Union (Moody’s), Malta (Fitch), Iceland (Moody’s), Rwanda (S&P), Senegal (Moody’s), Switzerland (Moody’s).
SATURDAY, MARCH 15
-Australian state elections. South Australia and Tasmania hold elections that will indicate the level of support for Prime Minister Tony Abbott’s Liberal-National government. The opposition Labor party holds power in Tasmania and South Australia, with opinion polls suggesting Abbott’s coalition is poised to win in both, giving it power in all six states. The results are expected in the evening.
-Hungarian Prime Minister Viktor Orban and opposition candidates speak at rallies during a national holiday as they campaign for April 6 parliamentary elections. From 10:30 in Budapest (05:30 EDT).
-Italy plays England in Rome in the final round of games in rugby’s Six Nations championship at 13:30 CET (08:30 EDT). Wales hosts Scotland in Cardiff at 14:45 local time and France plays Ireland in Paris at 18:00 CET.
Note to our readers: Click on blue ECONOMY headline at bottom of given day for access to Bloomberg’s complete global economic calendar.
-With assistance from Lucy Meakin in London. Editors: Nancy Moran, Andy Davidson