Fed Minutes, U.S. Services, Masters Golf: Week Ahead April 2-9by , , and
Yellen, Draghi to speak; Wisconsin holds presidential primary
Monsanto, Prada report earnings; NCAA crowns basketball champs
The Federal Open Market Committee’s March 15-16 meeting minutes will be released, giving investors fresh insights into policy makers’ thinking. Follow the TOPLive blog for real-time coverage here.
Federal Reserve Bank Chair Janet Yellen takes part in a panel discussion in New York, and European Central Bank President Mario Draghi makes a presentation in Lisbon.
Democratic and Republican presidential-primary voters go to the polls in Wisconsin, the last major contest before New York’s election on April 19.
U.S. service producers probably expanded at a stronger pace in March, the first increase in five months, based on economists’ estimates ahead of a report in the coming week.
The International Monetary Fund releases the analytical chapters of its World Economic Outlook.
The Cernobbio conference in Italy features policy makers and financial-industry speakers including the chief executive officers of BNP Paribas SA and UniCredit SpA.
Australia, India and Poland set monetary policy.
Monsanto Co. and Prada SpA are among companies releasing earnings.
The Masters, the first of the golf majors and the most-popular event among the sport’s bettors, begins.
The NCAA men’s and women’s basketball tournaments end with their championship games, and Major League Baseball opens its season.
Saturday, April 2
-The Final Four teams in the National Collegiate Athletic Association men’s basketball tournament
play each other in Houston. The championship is April 4. Click here for tournament coverage.
-The $6.8 million Houston Open, golf’s last qualifying event before the Masters, continues through April 3.
Sunday, April 3
-Peru’s national electoral board hosts a presidential debate before the April 10 vote. 20:00 local time (21:00 EDT).
-Major League Baseball marks Opening Day with three games, including a World Series rematch between the New York Mets and Kansas City Royals in Kansas City, Missouri, at 20:37 EDT.
-The NCAA women’s basketball Final Four teams play in Indianapolis.
Monday, April 4
-Bank of Canada Governor Stephen S. Poloz and Deputy Governor Carolyn Wilkins visit a public school in Ottawa as part of the public consultation to select a Canadian woman for a bank note.
-U.S. Federal Reserve Bank of Boston President Eric Rosengren will speak on “A View on Cybersecurity and Financial Stability from the CEO” at a cybersecurity conference in Boston. 09:30 EDT.
-Talks resume between the Greek government and creditors to complete a review of the country’s latest bailout. Timing in Athens to be determined.
-German Finance Minister Wolfgang Schaeuble and Dutch counterpart Jeroen Dijsselbloem discuss Europe at a Finance Ministry event celebrating German-Dutch relations. 18:00 CET in Berlin (12:00 EDT).
-U.S. Federal Reserve Bank of Minneapolis President Neel Kashkari holds a town hall meeting on “Too Big to Fail" at 16:15 in Minneapolis (17:15 EDT).
-The Bloomberg New Energy Finance Annual Energy Summit takes place in New York City. Speakers include the energy ministers of Argentina, Canada, Chile and Brazil, and U.S. Secretary of State John Kerry. Through April 5.
-CEOs from the world’s biggest copper miners will speak at the Cesco-Cru copper industry conference as prices slump amid slowing demand from China. In Santiago through April 6.
-The U.S. Department of Energy faces a deadline for comments on a draft environmental review of Eversource Energy’s $1.6 billion Northern Pass Transmission project connecting Canada and New England.
-ECB Executive Board member Peter Praet speaks at Luiss University. 10:30 CET in Rome (04:30 EDT).
-A U.S. appeals court in Washington will hear a case that could determine the timing of a market debut for an Apotex Inc. cancer drug that is a biosimilar version of Amgen Inc.’s Neulasta.
-The Bank of Canada will release its business outlook survey compiled from interviews with managers from about 100 Canadian firms. 09:15 EDT in Ottawa.
-Italian Prime Minister Matteo Renzi addresses leaders of his Democratic Party. Time in Rome to be determined.
-The South African Reserve Bank releases its biannual Monetary Policy Review with an overview of the policy environment since December. 18:00 in Pretoria (12:00 EDT).
-Kenyan President Uhuru Kenyatta visits France for talks with President Francois Hollande. Through April 6.
-Saudi Arabia’s King Salman makes an official visit to Egypt.
-U.S. government bond auctions, Fed debt purchases. Click here for the schedule.
-U.S. initial public stock offerings. Click here for the schedule.
-CENTRAL BANKS: Chile meeting minutes.
-ECONOMY: U.S. labor market conditions index (March), U.S. factory orders (Feb.), Japan monetary base (March), Turkey inflation (March), U.K. construction PMI (March).
-The NCAA men’s basketball championship game will be played in Houston. Click here for bracket. Timing to be determined.
Tuesday, April 5
-U.S. service industries probably grew in March at a faster pace, marking the first improvement in five months and showing the economy is moving forward at a modest rate. The Institute for Supply Management will issue the index at 10:00 EDT in Washington.
-The U.S. trade deficit was probably little changed in February after widening more than forecast a month earlier. The Commerce Department will issue the data at 08:30 EDT in Washington.
-Bloomberg hosts the Argentina Summit, with scheduled speakers including Finance Minister Alfonso Prat-Gay and Central Bank President Federico Sturzenegger. Begins at 08:00 in Buenos Aires (07:00 EDT).
-Wisconsin holds its U.S. presidential primaries for Republican and Democrat candidates.
-The Bank of England’s Financial Policy Committee publishes the record of its March 23 meeting. 10:30 in London (05:30 EDT).
-The 2016 Latin American Cities Conference is held in São Paulo. Speakers include International Monetary Fund Executive Director Otaviano Canuto. Begins at 08:30 (07:30 EDT).
-Bank of Canada Senior Deputy Governor Carolyn Wilkins speaks to the Vancouver Board of Trade at 12:00 local time (15:00 EDT). The text will be published on the bank’s website at 11:45.
-Demonstrators opposed to Peruvian presidential front-runner Keiko Fujimori plan to march in Lima and other cities on the 24th anniversary of her father’s government dissolving congress and assuming legislative and judicial powers.
-International Monetary Fund Managing Director Christine Lagarde will present her agenda for the IMF’s spring meeting in a speech at Goethe University Frankfurt at 09:30 CET (03:30 EDT).
-U.S. Federal Reserve Bank of Chicago President Charles Evans speaks on the economy and monetary policy at the Credit Suisse Asian Investment Conference. 12:30 in Hong Kong (00:30 EDT).
-Greek Economy Minister George Stathakis and Louka Katseli, head of Greece’s banking association, attend a business forum on German and Greek relations. 08:30 CET in Berlin (02:30 EDT).
-German Finance Minister Wolfgang Schaeuble gives a speech on the future of the EU. 18:15 CET at Basel University in Switzerland (12:15 EDT).
-The Petroleum Exhibition & Conference of Mexico’s keynote speakers includes Petrobal CEO Carlos Morales. In Villahermosa, Mexico, through April 7.
-CENTRAL BANKS: Rate decisions in Australia, India.
-ECONOMY: U.S. Markit services PMI (March final), U.S. job openings (Feb.), Colombia inflation (March), Japan wages (February), South Korean foreign reserves (March), South Africa whole economy PMI (March), Russia PMI (March), Romania retail sales (Feb.), Egypt PMI (March), euro-area services PMI (March), U.K. services PMI (March), German factory orders (Feb.).
-The NCAA women’s basketball championship game will be played in Indianapolis. 20:30 EDT.
Wednesday, April 6
-The U.S. Federal Reserve Bank releases the minutes from its March 15-16 Federal Open Market Committee meeting. In Washington at 14:00 EDT.
-U.S. Federal Reserve Bank of Cleveland President Loretta Mester discusses the U.S. economic outlook and monetary policy at a local business event. 12:20 EDT in Cleveland.
-Acting Spanish Prime Minister Mariano Rajoy speaks to parliament amid continued political paralysis following December’s inconclusive election. 09:00 CET in Madrid (03:00 EDT).
-ECB Supervisory Board Chair Daniele Nouy speaks at a European Banking Federation event. 09:00 CET in Frankfurt (03:00 EDT).
-The Netherlands holds a non-binding referendum on the European Union’s trade and association agreement with Ukraine. Exit poll released at 21:00 CET (15:00 EDT).
-Vietnam’s National Assembly will vote on whether to dismiss Prime Minister Nguyen Tan Dung after his failed bid to become Communist Party chief. A vote on the new prime minister, likely to be Deputy Prime Minister Nguyen Xuan Phuc, will be held on April 7.
-CENTRAL BANKS: Poland rate decision.
-ECONOMY: U.S. MBA mortgage applications (weekly), Russian CPI (weekly), Caixin China services PMI (March), Czech trade (Feb.), Hungary industrial production (Feb.), Russia weekly CPI (weekly), German industrial production (Feb.).
-ENERGY: Bloomberg survey of analysts’ natural gas volume, U.S. oil inventory.
Thursday, April 7
-U.S. Federal Reserve Bank Chair Janet Yellen joins a discussion with former Fed chiefs Ben Bernanke, Alan Greenspan and Paul Volcker in New York, the first time the four living Fed chairs have appeared together onstage in conversation. 17:30 EDT.
-ECB President Mario Draghi attends a meeting of Portuguese President Marcelo Rebelo de Sousa’s Council of State. Draghi will make a presentation about Europe’s economic and financial situation. Bank of Portugal Governor Carlos Costa will also attend. Timing in Lisbon to be determined.
-The ECB publishes an account of its March 10 monetary policy meeting. 13:30 in Frankfurt (07:30 EDT).
-ECB Executive Board members Benoit Coeure and Peter Praet speak at “The ECB and Its Watchers” conference. Governing Council member Ignazio Visco also speaks. Starts at 08:30 CET in Frankfurt (02:30 EDT).
-The International Monetary Fund releases the analytical chapters of its World Economic Outlook at 09:30 EDT in Washington. The full report on the global economy will be released before the IMF and World Bank spring meetings in Washington from April 15-17.
-U.S. Federal Reserve Bank of Kansas City President Esther George speaks about the U.S. economy in York, Nebraska, at 20:15 (21:15 EDT).
-Zhou Xiaochuan, governor of the People’s Bank of China, is among attendees at the annual meeting of the Inter-American Development Bank in Nassau, Bahamas. Others include Rodrigo Vergara, governor of the Central Bank of Chile, Colombian Finance Minister Mauricio Cardenas and Argentine Finance Minister Alfonso Pray-Gay. Through April 10.
-Bank of Japan Governor Haruhiko Kuroda speaks at the quarterly meeting of the central bank’s branch managers. 09:30 in Tokyo (April 6 20:30 EDT).
-Russia’s central bank Governor Elvira Nabiullina speaks at an Association of Russian banks news conference. Starts at 10:00 in Moscow (03:00 EDT).
-French President Francois Hollande and German Chancellor Angela Merkel meet in Metz, France. Joint news conference at 15:00 CET (10:00 EDT).
-Lithuania’s parliament votes on a second term for central bank Governor Vitas Vasiliauskas, a member of the ECB’s governing council.
-Kenyan President Uhuru Kenyatta visits Germany for talks with Chancellor Angela Merkel. Through April 8. Timing to be determined.
-CENTRAL BANKS: Serbia rate decision.
-ECONOMY: U.S. jobless claims (weekly), U.S. Bloomberg consumer comfort (weekly), U.S. consumer credit (Feb.), Mexico inflation (March), China foreign exchange reserves (March), Taiwan inflation (March), South Africa gross and net reserves (March), South Africa manufacturing (Feb.), South Africa business confidence (March), Czech industrial output (Feb.), Czech retail sales (Feb.), U.K. Halifax house prices (March), Swiss foreign-currency reserves (March), Hungary trade balance (March).
-The 2016 Masters golf tournament begins. Jordan Spieth is the returning champion. Click here for the leaderboard. Through April 10.
Friday, April 8
-ECB Executive Board Member Yves Mersch, UniCredit SpA CEO Federico Ghizzoni and Italian Finance Minister Pier Carlo Padoan are among the scheduled speakers at the European House-Ambrosetti workshop at the Villa d’Este in Cernobbio, Italy. Click here for details.
-Canadian Minister of Finance Bill Morneau speaks on the 2016 budget and the government’s plan to support the middle class. Details here. In Toronto at 07:00 EDT.
-Colombia Central Bank Co-Director Carlos Gustavo Cano speaks in Bogota about the agricultural sector. 08:00 local time (09:00 EDT).
-Djibouti President Ismail Omar Guelleh, who has been in office since 1999, is seeking a fourth term in national elections.
-ECONOMY: U.S. wholesale inventories (Feb.), Japan current account (Feb.), Japan economy watchers survey (March), Japan consumer confidence (March), Chile inflation (March), Brazil IPCA inflation (March), Hungary CPI (March), Turkey industrial production (Feb.), U.K. industrial production (Feb.), U.K. trade balance (Feb.).
-EARNINGS: Prada SpA.
-SOVEREIGN RATING UPDATES: Angola (Moody’s), Azerbaijan (Moody’s), Belarus (S&P), Cape Verde (S&P), Ethiopia (Fitch), Morocco (S&P), Romania (S&P), Saudi Arabia (S&P), Spain (DBRS), Sweden (Moody’s), Switzerland (Fitch), Turkey (Moody’s).
Saturday, April 9
-No scheduled events.