G-20, Fed Minutes, Housing, Japan GDP: Week Ahead Nov. 15-22
Nov. 14 (Bloomberg) -- Group of 20 leaders convene in Australia for their annual summit with an agenda focusing on promoting economic growth, cracking down on tax loopholes and the Ukraine crisis.
U.S. housing starts probably increased in October while industrial production cooled in the world’s biggest economy, separate reports in the coming week may show.
The Federal Reserve releases minutes of its Oct. 28-29 policy-setting Federal Open Market Committee meeting. The Bank of England also publishes minutes.
Japan reports third-quarter growth figures, as the country decides whether to proceed with a planned sales-tax increase.
Companies reporting earnings include Gap Inc., Target Corp., Best Buy Co., Dollar Tree Inc. and ThyssenKrupp AG.
The season-ending men’s tennis ATP World Tour Finals reach their climax in London.
SATURDAY, NOV. 15
-Group of 20 leaders and finance ministers convene for their annual summit in Brisbane, Australia with an agenda focused on promoting economic growth and cracking down on loopholes that let multinational companies shift profit to low-tax countries. Attention will also be on how leaders including U.S. President Barack Obama deal with Russian President Vladimir Putin amid tensions over Russia’s alleged arming of rebels in eastern Ukraine and its possible role in the downing of Malaysian Air flight MH17. Plenary session starts at 15:15 (00:15 EST).
-Obama’s Asia trip. After visiting China and Myanmar, President Barack Obama attends the G-20 summit, where he will deliver a speech on U.S. leadership in the region. Obama will hold a news conference at the end of the event on Nov.16 at 16:45 in Brisbane, Australia (01:45 EST).
-Obamacare open enrollment. Americans without health insurance can begin signing up for 2015 plans sold under the Patient Protection and Affordable Care Act starting today. The Obama administration plans to sign up at least 9 million people by Feb. 15, which is 4 million below a previous estimate from the Congressional Budget Office. Employers aren’t dropping their health benefits in the numbers once anticipated, and programs created by the law will be slower to reach full enrollment, according to the Department of Health and Human Services.
-College Football. Top-ranked Mississippi State University plays No. 5 University of Alabama. The rankings are determined by the College Football Playoff Selection Committee. (15:30 EST). Click here for other game schedules
-ATP World Tour Finals. The season-ending tournament for the top eight men’s tennis players reaches the semifinal stage. The matches are at 14:00 (09:00 EST) and 20:00.
SUNDAY, NOV. 16
-Okinawa’s gubernatorial election. A win by favorite Takeshi Onaga, who wants a U.S. Marine base moved out of the Japanese prefecture, might thwart plans to relocate it within the southern islands just as the national government seeks to bolster defense ties with the U.S. Polls close at 20:00 in Okinawa. (06:00 EST).
-Poland holds local government elections, with polls opening at 07:00 CET (01:00 EST) and closing at 21:00. Exit poll results are due at 21:00. It will be the first nationwide vote since Ewa Kopacz took over as premier.
-ECONOMY: Israel GDP (third quarter).
-ATP World Tour Finals. The singles final takes place at about 20:00 in London (15:00 EST).
-NFL. The Arizona Cardinals (8-1) host the Detroit Lions (7-2) (16:25 EST). Click here for NFL game schedule.
-Auto Racing. Nascar’s Sprint Cup series ends the season with the Ford EcoBoost 400 at Homestead-Miami Speedway. 15:00 in Homestead, Florida.
MONDAY, NOV. 17
-Japan reports preliminary third-quarter gross domestic product, an indicator Prime Minister Shinzo Abe will consider when deciding whether to proceed with a planned sales-tax increase. Economists estimate growth of 2.8 percent for the three months ended Sept. 30 after contraction at an annualized 7.1 percent in the previous quarter. 08:50 in Tokyo (11/16 18:50 EST).
-Shanghai-Hong Kong exchange link. Cross-trading of stocks listed on the two bourses begins, opening China’s $4.2 trillion equity market more broadly to overseas investors.
-U.S. industrial production probably cooled in October, according to a Bloomberg survey, as the rate of vehicle production slowed at factories. The Federal Reserve reports the data at 09:15 in Washington.
-Chinese President Xi Jinping and Australian Prime Minister Tony Abbott will probably announce a free-trade agreement that would see China drop tariffs on Australian coal. Xi, the first Chinese leader to visit Australia in seven years, will also address the federal parliament. Times to be determined.
-The Federal Reserve Bank of Chicago holds its annual agriculture conference. Speakers include Chicago Fed President Charles Evans and Joseph Glauber, chief economist of the U.S. Department of Agriculture. Starts 09:00 in Chicago (10:00 EST). Click here for the full agenda and speakers.
-Wyly forfeiture amount to be argued. A court will hear arguments on how much Samuel Wyly and his late brother Charles’s estate owe the U.S. government. The judge said it will be $300 million to $400 million depending on interest. A jury found the developers of companies including arts and crafts retailer Michaels Stores Inc. hid stock offshore and made illegal trades for 13 years. Manhattan federal court, 10:30.
-European Union foreign ministers meet to discuss blacklisting more Ukrainian separatists and their Russian backers. Meeting starts at 09:00 CET (03:00 EST) in Brussels.
-The International Atomic Energy Agency’s board of governors holds a five-day quarterly meeting to discuss the investigation into Iran’s nuclear work as well as safety issues. Starts each day at about 10:00 CET in Vienna (04:00 EST).
-ECB Executive Board member Yves Mersch speaks at a risk-management conference during Euro Finance Week. 10:00 CET in Frankfurt (04:00 EST).
-ECB Executive Board member Peter Praet speaks at a European macro conference organized by Credit Suisse Group AG. 13:30 in London (08:30 EST).
-ECB President Mario Draghi gives his quarterly testimony to the European Parliament in Brussels. 15:00 CET (09:00 EST).
-The ECB announces the amount of settled covered-bond purchases. 15:30 CET in Frankfurt (09:30 EST).
-ECB Executive Board member Benoit Coeure speaks at a European-Chinese Banking Day during Euro Finance Week. 15:45 CET in Frankfurt (09:45 EST).
-The European Union Parliament’s industry committee discusses a draft report on the carbon market. After 16:00 CET in Brussels (10:00 EST).
-The Solar Qatar Summit takes place in Doha. Speakers include Essa bin Hilal Al-Kuwari, president of Qatar General Electricity & Water Corp. 09:00 in Doha (00:00 EST). Through 11/18.
-A Kenyan court will deliver a judgment in a fraud case against central bank Governor Njuguna Ndung’u. 09:00 in Nairobi (01:00 EST).
-French President Francois Hollande begins a two-day state visit to Australia. Timings to be determined.
-Hungarians are due to hold street protests demanding the ouster of tax authority chief Ildiko Vida, one of six Hungarian officials the U.S. barred from the country on suspicion of corruption. Timing to be determined.
-U.S. government bond auctions, Fed debt purchases. Click here for schedule.
-U.S. initial public stock offerings. Click here for schedule.
-U.S. Supreme Court. Click here for schedule.
-ECONOMY: Empire State manufacturing (Nov.), Philippines overseas remittances (Sept.), Thailand GDP (third quarter), U.K. Rightmove house prices (Nov.), Turkey unemployment (Aug.).
TUESDAY, NOV. 18
-China will announce October property prices after new-home prices fell in September in all except one city as the easing of curbs failed to stem a market downturn amid tight credit. 09:30 in Beijing (11/17 20:30 EST).
-U.S. IPO. Paramount Group Inc., an office landlord, is seeking as much as $2.5 billion in an initial public offering that would be the biggest for a real estate investment trust in the U.S. At the high end of its marketed range, Paramount is valued at $4.64 billion. The stock will start trading on the New York Stock Exchange under the symbol PGRE on Nov. 19.
-Eike Batista, once Brazil’s richest man, stands trial for alleged capital-market crimes, including insider trading. Batista could face a prison sentence if he’s found guilty. Third Federal Criminal Tribunal, Rio de Janeiro, 14:00. (11:00 EST).
-The Los Angeles Auto Show opens to the media for three days, when the latest versions of the Ford Explorer SUV and Chrysler 300 large sedan will be introduced. Executives attending include Jim Lentz, president of Toyota Motor Corp.’s North American operations, and Mark Reuss, head of product development at General Motors Co. Show opens to the public Nov. 21-30. Click here for full schedule of events.
-Sony Corp. President Kazuo Hirai and Michael Lynton, chief executive officer of Sony Pictures Entertainment Inc., attend an investor relations event for the Japanese electronics manufacturer’s entertainment business. Investor Daniel Loeb sold his stake in Sony after it rejected his call to break up the company. 10:00 in Tokyo (11/17 20:00 EST).
-The Emirates Center for Strategic Studies and Research holds its 20th Annual Energy Conference in Abu Dhabi. Speakers include U.A.E. Energy Minister Suhail Al Mazrouei, and Sheikh Ahmed bin Saeed Al Maktoum, president of Dubai Civil Aviation and chairman and chief executive officer of Emirates Airline. 09:30 in Abu Dhabi (00:30 EST). Through 11/19.
-Iran nuclear talks. Diplomats from the U.S., U.K., France, Germany, Russia and China convene in Vienna for nuclear talks as they attempt to finalize an interim deal before the Nov. 24 deadline.
-The European Bank for Reconstruction and Development publishes its annual transition report on the former Soviet-bloc countries where it lends and invests. 10:30 in London (05:30 EST).
-ECB Executive Board member Sabine Lautenschlaeger speaks on the Single Supervisory Mechanism during Euro Finance Week. 09:30 CET in Frankfurt (03:30 EST).
-ECB Governing Council member Klaas Knot speaks to the Dutch parliament. 19:00 CET in The Hague (13:00 EST).
-Reserve Bank of Australia Governor Glenn Stevens speaks in Melbourne. Time to be determined.
-ECONOMY: U.S. producer price index (Oct.), U.S. capital flows (Sept.), U.K. inflation (Oct.), ZEW German investor confidence (Nov.), Egypt trade balance (Sept.), Czech industrial PPI (Oct.), Ukraine industrial production (Oct.).
-CENTRAL BANKS: Chile rate decision, Australia minutes.
-EARNINGS: Home Depot Inc.
WEDNESDAY, NOV. 19
-Fed minutes. The Federal Reserve release minutes of the Oct. 28-29 meeting of its policy-setting Federal Open Market Committee. The minutes will provide details of the central bank’s decision to end a third round of quantitative easing. 14:00 in Washington.
-U.S. housing starts, or beginning home construction, probably increased in October, according to a Bloomberg survey. An increase in permits for apartment projects may have led to a pickup in starts last month. The Commerce Department reports at 08:30 in Washington.
-The Bank of England publishes minutes of its November monetary policy meeting. London 09:30 (05:30 EST).
-Japanese Prime Minister Shinzo Abe may dissolve the lower house of parliament to hold a snap election next month after postponing a planned sales-tax increase. Abe is seeking to win a broader mandate for his economic policies and to push through unpopular security legislation. 09:00 in Tokyo (11/18 19:00 EST).
-The Bank of Japan announces monetary policy at the end of a two-day meeting, after expanding easing last month. The meeting usually ends about midday, followed by a press conference by Governor Haruhiko Kuroda. 15:30 in Tokyo (01:30 EST).
-World Internet Conference. Government officials and company executives including Jack Ma, founder of Alibaba Group Holding Ltd.; Robin Li, CEO of Baidu Inc.; and Masayoshi Son, CEO of SoftBank Corp., will discuss topics including countering cyber terrorism and Internet security at the first event organized by China to promote the development of Internet. Through Nov. 21 in Zhejiang, eastern China.
-Former Federal Reserve Chairman Ben S. Bernanke speaks at a CFA Montreal conference about the global economy and challenges facing monetary policy makers. 19:00 in Montreal (19:00 EST).
-Ebola hearing. The Senate Homeland Security Committee has scheduled a hearing on the U.S. response to Ebola and other health threats. The committee’s chairman, Senator Tom Carper of Delaware, has criticized fellow lawmakers for using political “scare tactics” regarding the spread of the disease, and has defended the head of the U.S. Centers for Disease Control and Prevention. 10:00 in Washington.
-Sohn London Investment Conference, produced by Bloomberg Link. Speakers include Carson Block, founder of Muddy Waters LLC; Jim Chanos, founder of Kynikos Associates LP; Guillaume Rambourg, founder of Verrazzano Capital SAS. Starts at 13:00, Marriott Hotel, Grosvenor Square, London. (08:00 EST). Click here for full list of speakers.
-CWC holds its 15th World LNG Summit in Paris. Speakers include GDF Suez LNG President Philip Olivier and Cheniere Marketing President Meg Gentle. 08:45 CET in Paris (02:45 EST). Through 11/21.
-ECB Executive Board member Peter Praet speaks at the EIOPA conference during Euro Finance Week. Frankfurt, 10:00 (04:00 EST).
-Polish Prime Minister Ewa Kopacz and Finance Minister Mateusz Szczurek are scheduled to speak at a business conference in Warsaw at 10:50 CET (04:50 EST) and 11:50.
-Ghana Finance Minister Seth Terkper to present the 2015 budget to parliament. 10:00 in Accra (05:00 EST).
-Nigerian Information Minister Labaran Maku hosts the weekly cabinet press briefing. 14:00 in Abuja (08:00 EST).
-ECONOMY: U.S. building permits (Oct.), Brazil IPCA-15 inflation index (Nov.), Brazil unemployment rate (Oct.), South Africa CPI (Oct.), Ghana PPI (Oct.), Russia industrial production (Oct.).
-EARNINGS: Target Corp., Salesforce.com Inc., Lowe’s Cos., Staples Inc.
THURSDAY, NOV. 20
-U.S. consumer prices probably declined in October as Americans paid less at the gas pump, according to a Bloomberg survey. Inflation that’s below the Federal Reserve’s goal indicates policy makers may be able to keep interest rates low well into 2015 if needed. The Labor Department reports at 08:30 in Washington.
-HSBC and Markit announces a preliminary reading of their China manufacturing purchasing managers’ index for November. The final reading of 50.4 in October marked a fifth month of expansion. 09:45 in Beijing (11/19 20:45 EST).
-Federal Reserve Governor Daniel Tarullo, Deutsche Bank AG Co-Chief Executive Officer Anshu Jain and Consumer Financial Protection Bureau Director Richard Cordray are scheduled to speak on the second day of The Clearing House’s annual conference in New York. The three-day conference brings together regulators, executives and other industry professionals for discussions examining the post-Dodd-Frank era. Tarullo speaks at 07:45, Jain at 10:15 and Cordray at 12:15. Through Nov. 21. Click here for full schedule.
-The U.S. Senate’s Permanent Subcommittee on Investigations begins a two-day hearing into Wall Street banks’ involvement with physical commodities. The panel, led by Senator Carl Levin, will question executives, regulators and academics on the potential impact of bank ownership of businesses such as power plants, oil and gas pipelines and commodity warehouses. Hearing begins at 09:30 in Washington, and resumes at the same time on Nov. 21.
-Hungary’s central bank President Gyorgy Matolcsy is scheduled to speak at an economic conference at 09:00 CET in Budapest (03:00 EDT).
-The 12th China (Guangzhou) International Automobile Exhibition. Jochem Heizmann, Volkswagen AG’s head of China operations, will be among executives attending the largest auto show in southern China. Through Nov. 29.
-ECONOMY: U.S. existing home sales (Oct.), U.S. initial jobless claims (weekly), Bloomberg U.S. consumer comfort (weekly), U.S. leading indicators (Oct.), Philadelphia Fed survey (Nov.), Taiwan export orders (Oct.), Hong Kong inflation (Oct.), Japan trade balance (Oct.), euro-area manufacturing, services PMI (Nov.), U.K. retail sales (Oct.), Norway GDP (third quarter), Poland industrial output (Oct.), Poland PPI (Oct.).
-CENTRAL BANKS: South Africa rate decision, Turkey rate decision, Poland minutes.
-EARNINGS: Dollar Tree Inc., Best Buy Co., Gap Inc., ThyssenKrupp AG.
FRIDAY, NOV. 21
-Senate hearing on New York Federal Reserve. The U.S. Senate Banking panel’s Subcommittee on Financial Institutions and Consumer Protection is holding a hearing on Federal Reserve oversight of top banks. The hearing follows a Sept. 26 radio report on “This American Life,” which used secret recordings by a former New York Federal Reserve Bank employee to suggest Fed bank examiners have been deferential to the firms they regulate. 10:00 in Washington.
-ECB President Mario Draghi speaks at the European Banking Congress. 09:00 CET in Frankfurt (03:00 EST).
-ECB Governing Council member Jens Weidmann speaks at the European Banking Congress in Frankfurt. 11:15 CET (05:15 EST).
-Polish central bank Governor Marek Belka is scheduled to speak on the EU’s financial system at an economic conference in Athens at 14:00 (07:00 EDT).
-ECONOMY: Mexico GDP (third quarter), U.K. public finances (Oct.), Croatia unemployment rate (Oct.), Russia retail sales (Oct.), Russia unemployment rate (Oct.).
-CENTRAL BANKS: Zambia rate decision.
-SOVEREIGN RATING UPDATES: Denmark (Moody’s), Estonia (Moody’s), Greece (Fitch), Israel (Fitch), the Netherlands (S&P), Portugal (DBRS), Switzerland (S&P), Turkey (S&P), Uganda (Moody’s).
SATURDAY, NOV. 22
No scheduled events.
(An earlier version of this story Corrected the location of EIOPA item under Nov. 19.)
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