-
Macro Dynamic Remains the Same but the Calendar gets Busy
The economic calendar and central bank meeting diaries are busier in the week ahead. The highlights include three G7 central bank meetings (the Bank of Japan, the Bank Canada, and the European Central Bank), Chinese Q2 GDP, and the first look at US July survey data (Empire and Philadelphia Fed). The US also reports June retail sales and industrial production figures. The Fed's Beige Book may offer some anecdotal insight into economic activity where the virus has jumped and re-openings stalled or reversed. The underlying macro backdrop is unchanged. Concerns about the pandemic's growth and the possibility that the ... (full story)