What investors will be watching over the next seven days
he balancing act between slowing growth and sticky price pressures is top of the agenda ahead of U.S. inflation data and the World Bank and IMF Spring Meetings in Washington.
S&P 500 financials are seen posting first quarter year-on-year earnings growth of 5.2%, putting it among just four sectors whose earnings are expected to climb. S&P 500 earnings are predicted to fall 5.0%, I/B/E/S data from Refinitiv showed. The debate is expected to be a heated and emotional one for the Alpine nation which has taken much pride in its financial sector and where banking assets make up more than 500% of annual gross domestic product.
Inflation is running well above the 2% target and salaries have finally showed signs of catching up, so investors are asking the trillion dollar question of how long crisis-sized stimulus can remain. That’s the record amount it cost the BOJ to buy up bonds last year to keep yields in check as emboldened speculators attacked the market.
China’s reopening has boosted its domestic economy but demand at its factories remains weak. The latest ISM survey of U.S. manufacturers indicated conditions were dire, but last Friday’s U.S. jobs report showed employers maintained a strong pace of hiring in March. The Fund will release its latest projections for global growth on Tuesday and a sovereign round table to address countries in debt distress is a key event on Wednesday.
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