Under the assumption that most Americans would like to keep an eye on their money, the US Economic Calendar for the week of October 27, 2014 is a great tool to have at your disposal!
With economic and political uncertainty more of the rule than exception, this weeks key economic releases and corporate earnings may hold what may be some helpful clues concerning the strength of the US economy.
Further, they may help to indicate the direction that interest rates may move both in the near and intermediate term although geopolitics and disease may take center stage instead!
Of course any significant move in government bond yields are important to monitor because spikes either up or down will have an impact on mortgage rates and by extension the general health of the real estate market.
If, however, a significant move in the Treasury market appears to be due more to a flight to quality trade then the overall the strength or weakness of the US economy or level of inflation, the bond yield discussion becomes much cloudier.
The 10-year US treasury note is currently yielding 2.26%, relatively stable for the past couple of weeks.
This stability seems to be due to a calming of the geopolitical angst surrounding ISIS and apparent lack of concern over a potential spread of Ebola in the United States!
And continuing a recent economic narrative, market participants may feel that Fed impetus to raise rates might be waning due to a belief that the US economy is not as strong as advertised and that inflation is under control.
The US Economic Calendar
The economic data scheduled for release this week will provide investors and businesses with both anecdotal evidence about the direction that the US economy is heading along with actual data about its current condition.
The upcoming week offers a fairly significant array of economic data releases with some of the headline reports that will be most closely scrutinized by market participants, the Fed, politicians and investors including the release of 3rd Quarter GDP, Pending Home Sales, Case-Shiller, Consumer Confidence, Durable Goods and Consumer Sentiment.
It will be a quiet week as far as scheduled speeches by members of the Federal Reserve goes with none on the calendar, although impromptu comments or remarks by any of them can potentially occur at any time.
Of course the Federal Reserve is meeting this week and the statement about policy to be issued on Wednesday will be significant and likely have major financial market implications!
Finally, once again the markets will also be closely watching geopolitical hotspotsthat have the potential for serious flare-ups with global implications.
Currently on the front-burner geopolitically are the following crises, some with conditions that have changed over the past week and others that remain static. It is also a list that unfortunately continues to grow:
- Continued ineffectiveness on the part of the United States to deal with ISIS, the terror group that is taking over territory in Iraq and Syria with impunity and is currently on the doorstep of Baghdad,
- The threat that the spread of ISIS could, or potentially already has, moved to the United States,
- Continued decline in the global price of oil,
- Mid-term election on November 4th,
- Along those lines the fear that the next phase in the Global War on Terror could be ‘lone wolf’ attackers,
- Israel-Hamas conflict that currently simmers but that has the potential to boil over at any time,
- Fallout from pro-European victories in Ukraine elections coupled with potential for theRussia-Ukraine conflict to boil over at any time,
- Potential for the White House to enlist the help of Iran in the battle against ISIS in return for easing the attempts to end that country’s nuclear ambitions,
- Continuing crisis at the US-Mexico border,
- Continued confusion over the state of the leadership in North Korea,
- The Ebola breakout that remains active with the potential to spread,
- Fallout over the results of the ECB bank stress test.
Courtesy of Econoday this is the chart of the US economic data to be released during the week of October 27, 2014 along with scheduled speeches by members of the Federal Reserve. The chart below also includes the upcoming treasury auction calendar!
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