What's coming up next
February was a reopening month but it was also a month of very cold weather in much of the US, so it's a tough retail sales report to handicap. The consensus is -0.5% on the headline and -0.6% on the control group. I suspect the market will forgive a bad report because of the weather and pending stimulus while cheering an upbeat reading as a sign of pent up demand.
Retail sales is likely to be the only market moving report but later we also get:
- 1315 GMT - industrial production
- 1400 GMT - business inventories
- 1400 GMT - NAHB housing market index
- 1530 GMT - comments from the ECB's Elderson
- 1700 GMT - US 20-year bond sale
