SUMMARY
In three US cities throughout the week, a unique array of public and private decisionmakers from every continent save Antarctica discuss economic, fiscal, financial, and social issues. These sessions in Chicago, Manhattan, and DC touch on every market-relevant topic affecting voters and other citizens, consumers, clients, and customers important to policymakers, bankers, and other businesspeople. Continuing a theme in place the past ten quarters, these global thinkers and doers are vexed by crucial questions, the answers to which they’d pay to know today. This version of our weekly outlook note is an admittedly inexhaustive list of an uncommonly impressive series of conversations.
We missed or failed to acknowledge a few interesting policy developments late last week. In his first Friday 22V client webinar, our Head of China Research, Michael Hirson, mentioned the U.S. Department of Commerce’s new export controls on advanced chips and computing destined for China. Munich Re announced significant constraints on insuring new fossil fuel projects. The London Metals Exchange’s paper and request for comments on Russian metals geopolitical, ethical, logistical, and financial issues could change how the LME handles those stocks. Finally, the U.S. Department of Treasury’s Federal Insurance Office (created in 2010) requested information on potential federal responses to cyber incidents.
OUTLOOK (all eastern daylight savings times)
Monday
The International Institute of Finance (IIF), and International Monetary Fund (IMF)/World Bank (WB) begin their usual annual conferences in DC. All G20 and many G50 ministers are scheduled to participate.
9:00 a.m., Chicago Fed President Charles Evans opens the National Association for Business Economics (NABE) 64th annual session.
11:00 a.m., Philip Lane, ECB chief economist, opens the ECB two-day virtual session on monetary policy “Bridging Science and Practice.”
1:00 p.m., Fed Board Vice Chair Lael Brainard keynotes the NABE conference.
Canada’s financial and US fixed income markets are closed.
Tuesday
11:30 a.m., Cleveland Fed President Loretta Mester spends 2.5 hours via webinar with the Economic Club of New York.
12:45 p.m., Swiss National Bank President Thomas Jordan discusses central bank independence at the Peterson Institute in DC.
2:00 p.m., BoE’s Deputy Governor Sir John Cunliffe addresses global payments systems with IIF participants.
2:35 p.m., BoE Governor Andrew Bailey follows his colleague with a wider remit – literally and conversationally.
The BoJ announces purchase amounts of government securities.
Japan re-starts visa-free travel for vaccinated visitors.
Wednesday
8:00 a.m., BoJ Governor Haruhiko Kuroda addresses the IIF’s audience.
9:30 a.m., ECB President Christine Lagarde continues the IIF’s morning.
12:00 p.m., USDA’s October global agriculture supply and demand report.
1:00 p.m., BoE’s monetary policy committee external advisor, Catherine Mann discusses challenges facing small open economies at the Canada Association for Business Economics.
5:30–8:30 p.m., Fed Governor Michelle Bowman tells the Money Marketeers of NYU what she thinks of monetary policy forward guidance, New York City.
EU oil ministers continue discussions about oil and gas prices, and Germany’s subsidies to help its citizens, not all the EU, defray those costs.
Thursday
8:30 a.m., US CPI October report.
9:00 a.m., BoE policymaker Catherine Mann appears at the Peterson Institute.
Italy’s new parliament is set to convene.
Taiwan ends its three-day quarantine for arrivals.
Friday
9:00 a.m., Larry Summers addresses the IIF.
9:00 a.m., U.S. Department of Commerce’s Bureau of Industry and Security briefing on new China tech export controls.
