Next week's US economic calendar starts like but ends with some sizzle. The most important thing to note is that it's the end of the month and the quarter. We've seen some huge moves in bonds and that will spark some associated flows. It's also fiscal year end in Japan.
Here's what's coming for US economic data.
Monday:
- Advance goods trade balance
- 2-year auction and 5-year auction
Tuesday:
- JOLTS
- Consumer confidence
- House price index
- 7-year auction
Wednesday:
- ADP employment
- Q4 final GDP
Thursday:
- Initial jobless claims
- PCE
Friday:
- Non-farm payrolls
- ISM manufacturing
- Construction spending
There will be plenty of Fedspeak as well. Williams today highlighted the importance of data and the market is pricing in a 79% chance of 50 bps on May 4 now.
