Home Sales, Greece, Pope, Emmys, Rugby: Week Ahead Sept. 19-26

Sales of previously owned U.S. homes probably held close to the highest level since 2007 and purchases of new properties rose, data in the coming week will show.

Greeks go to the polls after Syriza’s ex-Prime Minister Alexis Tsipras called a snap general election amid turmoil following the country’s latest bailout deal.

Pope Francis visits Cuba and the U.S., where he’ll meet with President Barack Obama and address both Congress and the General Assembly of the United Nations.

Chinese President Xi Jinping also visits the U.S. and meets with President Obama.

Japanese Prime Minister Shinzo Abe lays out goals for the rest of his term, while European Union leaders hold a summit on the continent’s refugee crisis.

Mexico, Norway and Turkey set monetary policy.

Apple Inc.’s latest iPhones become available in stores in the U.S. and nine other countries.

The 67th Emmy Awards are presented in Los Angeles and the Rugby World Cup continues across England and Wales.


-All five Democratic candidates for U.S. president -- Hillary Clinton, Bernie Sanders, Martin O’Malley, Jim Webb and Lincoln Chafee -- will appear at New Hampshire’s party convention at the Verizon Wireless Arena in Manchester. Program begins at 09:00.

-Pope Francis visits Cuba through Sept. 22, prior to traveling to the U.S. for a meeting with President Barack Obama, speeches before Congress and the United Nations General Assembly and stops in New York and Philadelphia.

-U.S. Secretary of State John Kerry is in London to consult with U.K. Foreign Secretary Philip Hammond on topics including the refugee crisis and war in Syria. He’ll also meet there with United Arab Emirates Foreign Minister Abdullah Bin Zayed Al Nahyan to discuss regional and bilateral issues.

-Venezuela’s opposition alliance plans a rally in eastern Caracas to call for the release of political detainees including Leopoldo Lopez, who was sentenced to almost 14 years in prison this month.

-Federal Reserve Bank of San Francisco President John Williams, a voting member of the FOMC this year, discusses the U.S. economic outlook at the Weill Center in Armonk, New York. 13:30.

-Federal Reserve Bank of St. Louis President James Bullard speaks at the Community Bankers Association of Illinois’s annual convention in Nashville, Tennessee. 14:30 (15:30 EDT).

-The Rugby World Cup continues across England and Wales. Many of rugby’s top teams, including Argentina, Ireland, New Zealand and South Africa, are playing over the weekend, while midweek matches feature Australia, France and Scotland. Through 10/31.


-Greeks go to the polls for the third time this year after Syriza Prime Minister Alexis Tsipras called a snap general election amid political turmoil following the signing of a new international bailout deal. Polls show Syriza and Evangelos Meimarakis’s New Democracy party vying for first place, with neither set to win an absolute majority. Exit polls are expected at 19:00 in Athens (12:00 EDT), with the first results due a few hours later.

-German Chancellor Angela Merkel addresses a convention of the Verdi labor union, among the country’s most powerful with more than 2 million members. About 18:00 CET in Leipzig (12:00 EDT).

-The 67th Emmy Awards, honoring prime-time television’s best programs and actors, airs live on 21st Century Fox Inc.’s Fox network from the Microsoft Theater in Los Angeles. Seven shows are competing for top drama this year, including past winners “Homeland” and “Mad Men.” “Game of Thrones,” HBO’s hit series, has the most nominations of any show, with 24, including for best drama. Andy Samberg, star of Fox’s “Brooklyn Nine-Nine,” is hosting. 20:00 EDT.


-The U.S. House of Representatives is on recess this week, with the exception of a special joint meeting with the Senate on Thursday to hear an address from Pope Francis. The House will return on Sept. 28, three days prior to the expiration of government funding on Sept. 30.

-Sales of previously owned U.S. homes probably held near the highest level since 2007 in August after unexpectedly rising in July. The National Association of Realtors releases data at 10:00 in Washington.

-The China-U.K. Economic and Financial Dialogue will be held in Beijing. China Vice Premier Ma Kai will co-host the event with U.K. Chancellor of the Exchequer George Osborne.

-Charter Communications Inc. and Time Warner Cable Inc. hold special meetings for their respective shareholders to vote on Charter’s proposed purchase of Time Warner Cable. 10:00 EDT.

-Federal Reserve Bank of Atlanta President Dennis Lockhart addresses the Buckhead Rotary Club. 13:00 in Atlanta.

-Mexico rate decision. The Banco de Mexico will probably keep its key rate unchanged at a record-low 3 percent after the annual inflation rate fell to a near five-decade low of 2.59 percent. 13:00 (14:00 EDT) in Mexico City.

-Bank of Canada Governor Stephen Poloz is the keynote speaker at Calgary Economic Development’s “2016 Economic Outlook” event. 12:45 in Calgary (14:45 EDT). Remarks will be published on the Bank’s website at 12:30.

-International Monetary Fund Managing Director Christine Lagarde delivers welcoming remarks at a discussion prior to the awards ceremony for the “Ethics in Finance - Robin Cosgrove Prize,” which recognizes ideas promoting ethics in the finance industry. 15:00 at IMF headquarters in Washington.

-European Central Bank Governing Council member Ewald Nowotny speaks on a panel about the Austrian banking industry. 18:00 CET in Vienna (12:00 EDT).

-European Central Bank Executive Board member Peter Praet gives a lecture entitled “Current issues on economic policy” at the International Center for Monetary and Banking Studies. 18:30 CET in Geneva (12:30 EDT).

-European Commission Vice President Valdis Dombrovskis briefs reporters on the Greek election result and European integration. 12:30 CET in Berlin (06:30 EDT). He later gives a speech at Humboldt University at 18:00 CET.

-Sweden’s Social Democratic-led government presents its budget for 2016. The plan will include tax increases and higher spending on job and climate measures as Prime Minister Stefan Loefven seeks to push down unemployment. 08:00 CET in Stockholm (02:00 EDT).

-The Union of South American Nations, or Unasur, holds a presidential meeting amid rising tensions on the border between Colombia and Venezuela. Timing to be determined.

-Peace burger. Burger King, a division of the Warren Buffett-backed Restaurant Brands International Inc., gives away a burger created with four chains -- Denny’s Corp., Wayback Burgers, Krystal Co. and Giraffas -- that responded to its open letter last month to raise funds for charity. The letter had targeted its long-time rival, McDonald’s Corp., with the suggestion of a hybrid “McWhopper” sandwich. There will be 1,500 hybrid burgers available free of charge at a Burger King location in Atlanta, with the participating chains making donations to the Peace One Day nonprofit.

-U.S. government bond auctions, Fed debt purchases. Click here for schedule.

-U.S. initial public stock offerings. Click here for schedule.

-ECONOMY: Hong Kong CPI (Aug.), Lithuania industrial production (Aug.), Latvian PPI (Aug.)

-EARNINGS: Lennar Corp., Red Hat Inc.


-Chinese President Xi Jinping begins a visit to the U.S., his first as China’s leader, amid growing tension over cyberhacking and China’s military moves in the South China Sea. Xi will participate in a Sept. 23 meeting with top U.S. executives that may include Apple Inc. CEO Tim Cook before traveling to Washington for a Sept. 25 summit with U.S. President Barack Obama and a state dinner. Xi then visits New York Sept. 26-28, and will address the annual meeting of the United Nations General Assembly.

-Bank of America Corp. shareholders are scheduled to vote on a proposal to ratify the board’s decision last year to give Brian Moynihan the dual role of chief executive officer and chairman. Proxy advisers Institutional Shareholder Services and Glass Lewis & Co. have advised investors to reject the motion at the special meeting. 10:00 in Charlotte, North Carolina.

-European Union justice and interior ministers debate proposals for the bloc to take in 120,000 refugees from Syria, Eritrea and Afghanistan. 14:30 CET in Brussels (08:30 EDT).

-U.K. Prime Minister David Cameron hosts French President Francois Hollande for a working dinner at his Chequers country residence northwest of London. Timing to be determined.

-European Central Bank Supervisory Chair Daniele Nouy speaks at the ECIIA Conference “Audit in the spotlight” in Paris. Click here for the schedule.

-The U.S. Securities and Exchange Commission meets to consider proposing a new rule that would require liquidity risk-management programs for open-end management investment companies. 10:00 in Washington.

-The Sacramento Public Finance Authority prices a $273 million taxable municipal-bond sale today and tomorrow aimed at financing a new arena for the National Basketball Association’s Kings. The new arena was part of a bid put together by Sacramento Mayor and former NBA player Kevin Johnson to keep the franchise from moving to Seattle.

-Chicago Mayor Rahm Emanuel is set to release a spending plan as the U.S. city faces a $426 million budget shortfall next year.

-Perumin Mining Convention. Peru’s Energy & Mines Minister Rosa Maria Ortiz, its central bank President Julio Velarde and Southern Copper Corp. Chief Executive Officer Oscar Gonzalez Rocha are among scheduled speakers at the gathering in Arequipa, Peru. Through 09/25. Click here for program.

-OAS SA bondholders gather at a general creditors’ meeting to consider the Brazilian builder’s restructuring proposal, according to documents posted on its website. 14:00 in Sao Paulo (13:00 EDT). The meeting may be rescheduled for Sept. 29 in the event that a quorum isn’t met.

-Federal Reserve Bank of Atlanta President Dennis Lockhart addresses the Alabama World Affairs Council in Montgomery, Alabama. 17:30 (18:30 EDT).

-ECONOMY: FHFA U.S. house price index (July), Richmond Fed manufacturing (Sept.), Brazil IPCA-15 inflation (Sept.), Taiwan unemployment (Aug.)

-CENTRAL BANKS: Nigeria rate decision, Kenya rate decision, Hungary rate decision, Turkey rate decision

-EARNINGS: AutoZone Inc., Darden Restaurants Inc., CarMax Inc., ConAgra Foods Inc., Carnival Corp., General Mills Inc.


-U.S. President Barack Obama welcomes Pope Francis to Washington at the start of the pontiff’s U.S. visit. Obama will host the pope for talks at the White House, with topics likely to include climate change, income inequality and the refugee crisis in Europe. Click here for the pope’s official schedule.

-European Central Bank President Mario Draghi speaks at a quarterly hearing before the Committee on Economic and Monetary Affairs of the European Parliament. 15:00 CET in Brussels (09:00 EDT).

-European Union leaders hold a summit to discuss the refugee crisis. 18:00 CET in Brussels (12:00 EDT).

-Federal Reserve Bank of Atlanta President Dennis Lockhart addresses the Columbus Rotary Club in Columbus, Georgia. 12:30.

-Colombian President Juan Manuel Santos, Ecopetrol SA Chief Executive Officer Juan Carlos Echeverry and Energy Minister Tomas Gonzalez are among scheduled speakers at the Heavy Oil Latin America Conference & Exhibition. In Bogota through 09/25. Click here for program.

-The Green Expo. Mexican Association of Wind Energy Chairman Adrian Escofet Cedeno and National Solar Energy Association President Alberto Valdes Palacios are among scheduled participants. In Mexico City through 09/25.

-German Chancellor Angela Merkel gives a speech about the country’s reunification in 1990. 16:00 CET in Berlin (10:00 EDT).

-U.K. Liberal Democrat leader Tim Farron makes the keynote speech to close his party’s annual conference, the first since it lost most of its House of Commons seats in May’s election. Farron may have a chance to build support as the main opposition Labour Party takes a more traditional socialist stance under new leader Jeremy Corbyn. After 11:45 in Bournemouth, England (06:45 EDT).

-Polish Central Bank Governor Marek Belka gives the keynote speech at a conference titled “Reinventing the Eurozone: The View from Central Europe.” Starts at 09:10 CET in Warsaw (03:10 EDT).

-The U.S. Energy Information Administration releases its U.S. oil inventory report. 10:30 in Washington.

-ECONOMY: MBA U.S. mortgage applications (weekly), Markit U.S. manufacturing PMI (Sept.), Canada retail sales (July), Brazil current account (Aug.), China Caixin flash manufacturing PMI (Sept.), Taiwan industrial production (Aug.), South Africa CPI (Aug.), South Africa PPI (Aug.), Ghana GDP (second quarter), Russian weekly CPI, Poland unemployment rate (Aug.), Croatia unemployment (Aug.), euro-area preliminary PMIs (Sept.)

-CENTRAL BANKS: South Africa rate decision, Georgia rate decision


-Japanese Prime Minister Shinzo Abe lays out goals for the rest of his term after being reappointed this month as leader of the Liberal Democratic Party for another three-year stint that could make him one of Japan’s longest-serving postwar prime ministers. Almost three years after his election, his Abenomics plan of fiscal and monetary stimulus has done little to re-inflate and revive the world’s third-biggest economy, which is on the brink of recession. Time to be determined.

-Sales of new U.S. homes probably continued to rebound in August after recording their biggest gain of the year in July. The Commerce Department releases data at 10:00 in Washington.

-U.S. durable goods orders probably fell in August for the first time in three months, held back by fewer bookings for commercial aircraft and slower global economic growth. The Commerce Department releases data at 08:30 in Washington.

-Pope Francis addresses U.S. Congress at the invitation of House Speaker John Boehner. 09:20. The pontiff, the first ever to speak before a joint meeting of lawmakers, then travels to New York City to lead evening prayers at St. Patrick’s Cathedral in Manhattan. 18:45. Click here for official schedule.

-German Chancellor Angela Merkel and leaders of the country’s 16 regions hold talks to decide on the distribution of extra federal aid to cope with as many as 1 million refugees expected this year. Timing to be determined.

-Norway interest-rate decision. Policy makers led by Governor Oeystein Olsen will probably keep the key rate unchanged at 1 percent after a plunge in the krone boosted mainland exports and drove up inflation. 10:00 CET in Oslo (04:00 EDT), followed by a 10:30 press conference.

-European Central Bank Governing Council member Erkki Liikanen speaks at a Bank of Finland quarterly press briefing. 11:00 in Helsinki (04:00 EDT).

-Democratic U.S. Senator Elizabeth Warren is among the scheduled speakers at the 24th World Congress of Savings and Retail Banks. 15:00 in Washington. Through 09/25.

-Swedish central bank Governor Stefan Ingves makes a presentation and answers questions on monetary policy in parliament. 09:00 CET in Stockholm (03:00 EDT).

-Federal Reserve Chair Janet Yellen delivers the annual Philip Gamble Memorial Lecture at the University of Massachusetts. 17:00 in Amherst, Massachusetts.

-The U.S. Energy Information Administration releases its natural gas inventory report. 10:30 in Washington.

-ECONOMY: U.S. initial jobless (weekly), Bloomberg Consumer Comfort index (weekly), Kansas City Fed manufacturing activity (Sept.), Brazil unemployment (Aug.), Mexico bi-weekly inflation (Sept. 15), Hong Kong exports, imports, trade balance (Aug.), Germany Ifo business confidence (Sept.), France manufacturing confidence (Sept.)

-CENTRAL BANKS: Philippine rate decision, Czech rate decision, Israel rate decision

-EARNINGS: Accenture Plc, Bed Bath & Beyond Inc., Nike Inc., Hennes & Mauritz AB

-Golf’s Tour Championship begins at the East Lake Golf Club in Atlanta. Through 09/27.


-Confidence among U.S. consumers probably fell less than initially estimated, to 87, in the University of Michigan’s final September index. The gauge’s first estimate on Sept. 11 showed a decline to 85.7 from August’s 91.9 for the largest one-month decline since the end of 2012. 10:00 EDT.

-Apple Inc.’s latest iPhones, the 6s and 6s Plus, become available in stores in the U.S. and nine other countries, including China and the U.K.

-British day trader Navinder Singh Sarao, accused of contributing to the 2010 flash crash that wiped away almost $1 trillion from the value of U.S. equities, faces an extradition hearing in London.

-Federal Reserve Bank of St. Louis President James Bullard speaks on a panel, “New Directions in Monetary Policy,” hosted by the Global Interdependence Center. 08:15 (09:15 EDT) in St. Louis.

-Pope Francis addresses the United Nations General Assembly on the first full day of his visit to New York City. 08:30. The pontiff later gives an 18:00 mass at Madison Square Garden. Click here for official schedule.

-Federal Reserve Bank of Kansas City President Esther George discusses the economy and monetary policy at the Century Link Convention Center and Arena in Omaha, Nebraska. 12:25 (13:25 EDT).

-U.K. Independence Party leader Nigel Farage gives the keynote speech at the party’s annual conference as it focuses on campaigning for a British exit from the European Union in a referendum to be held by the end of 2017. 12:00 in Doncaster, England (07:00 EDT).

-Catalonian political groups hold their closing rallies ahead of Sunday’s elections, which are being framed as a de facto referendum on independence from Spain. Timings to be determined.

-Baker Hughes rig count for oil and gas rigs in the U.S. 13:00 EDT.

-ECONOMY: U.S. GDP (second quarter), Markit U.S. composite PMI (Sept.), Markit U.S. services PMI (Sept.), Brazil total outstanding loans (Aug.), South Korea consumer confidence (Sept.), Japan CPI (Aug.).

-CENTRAL BANKS: Colombia rate decision.

-SOVEREIGN RATING UPDATES: Andorra (S&P), Angola (Fitch), Austria (S&P), Congo (S&P), Cyprus (S&P), Denmark (S&P), EFSF (Moody’s), ESM (Moody’s), Finland (S&P), Italy (DBRS), Lithuania (Fitch & S&P), Luxembourg (S&P), Nigeria (Fitch), Portugal (Fitch), Slovenia (Fitch), Tunisia (Fitch), Zambia (Moody’s & S&P).


-Pope Francis arrives for a two-day visit to Philadelphia, where he’ll give mass at the Cathedral Basilica of Saints Peter and Paul, visit the Independence Mall and give mass for the World Meeting of Families at the Pennsylvania Convention Center. Click here for official schedule.

-South Korean President Park Geun Hye delivers a speech at the United Nations General Assembly on issues ranging from security to development, and will subsequently hold a series of meetings with leaders from other nations during her U.S. trip that ends Sept. 28.

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