After last week's relentless barrage of news including the Fed's biggest rate hike since May 2000, the bizarre shocker from the BOE, the Friday payrolls kicker and the record surge in US credit card usage, not to mention countless reports from the peak of earnings season, DB's Jim Reid reminds us that we won't have to wait too long for the next blockbuster event to help shape the debate as US CPI on Wednesday takes center stage this week with PPI the following day. There are lots of Fed speakers too to put some nuance to last week's FOMC announcement.
Outside of this geopolitics will be key. Today marks the annual "Victory Day" in Russia where there will be a parade and a speech from Putin. It's anyone's guess what tone the President will take in this landmark speech but it could shape the next phase of the war. Staying with geopolitics, Finland may decide whether to apply for NATO membership this week and Sweden is due to publish its security policy assessment before Friday.
We will also get a pulse check on economic sentiment in May from the ZEW survey for the Eurozone and Germany (tomorrow) and, for the US, the University of Michigan survey on Friday. China inflation data on Wednesday will be interesting. In an otherwise quiet week for economic data, the UK will be an exception with a data-packed Thursday.
It will be a slow week for corporate earnings too now as the bulk of US/European companies have reported and we will instead focus on Japan's corporate giants. As well as Fed speakers there are a number of ECB equivalents, with all comments pertaining to a possible July hike watched...