This Week's Chart, Next Week's Markets
Worse possible timing for an SPR release, Chinese growth and lots of rate decisions
Pro-tip: Don’t time the release from your strategic reserves with tankers burning in the Gulf…
Meanwhile, brace for another busy week in markets. The headlines from the Gulf will continue to matter most, but don’t miss these:
Tuesday: Chinese Industrial Production and Retail Sales will offer fresh measures of the country’s economic strength as the newest Five-Year Plan targets slower growth in hopes of more balanced and durable expansion.
Wednesday: The Federal Open Market Committee will likely hold rates steady, but reporters will ask Jerome Powell how long the interruption of Gulf oil supplies can last without affecting inflation. He probably won’t answer.
Late Wednesday (EDT): The Bank of Japan weighs in with what could be a rate hike to 1%, which would help bolster the plummeting yen.
Thursday: The European Central Bank and the Bank of England will likely hold rates steady as well. Both are still expected to cut later this year if the recent energy shock doesn’t derail them.