SUMMARY
The US employment situation is front of mind but comes at the back of the week. G20 foreign ministers’ Bali gathering (including Russia’s Lavrov) and the Ukraine Recovery Conference are the major war updates for the week. A midweek UN report on food security will address a long-term problem exacerbated by the war and related supply chain and inflation complications. Congress remains away leaving President Biden to manage the domestic news cycle in the aftermath of the Supreme Court’s muscular 2022 stamp on policy.
Tuesday
The Bank of England’s annual financial stability report comes a week after Governor Bailey warned of sticky challenging UK economic conditions (possibly to include the effects of a few London-based work stoppages).
Wednesday
Switzerland hosts the two-day Ukraine Recovery Conference designed to further develop post-war rebuilding and growth strategies. The BoE’s deputy governor and chief economist will discuss digital assets policy and the global economy at the Qatar Centre for Global Banking and Finance’s annual conference in London.
Thursday
G20 foreign ministers bask in Bali’s warmth despite chilly relations among some of the major re-globalization players.
Friday
US employment report leads from behind as policymakers and investors digest the most important economic data of the week. The ECB’s bank supervisor releases climate-risk stress test results.
