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Breakfast Bites - China & Hong Kong fall again
Fed enters blackout period; BoJ meeting coming up; US Treasury flows increase in Nov; Stock Picks
Ayesha Tariq
January 22, 2024
Rise and shine everyone.
Last Friday was incredible and I’m sure everyone’s waiting to see how US equities perform this week. Globally, we have a few very important events this week.
We have the Bank of Japan (BoJ) meeting today (Late night US / Early morning Asia); the ECB meeting on Thursday Jan 25 along with US Advance GDP estimates; and we close out the week with US PCE inflation data. Also, the Fed has entered its blackout period (thankfully).
This month’s BoJ meeting also includes the Outlook on growth and inflation.
We don’t foresee a change of policy during this meeting as we have been discussing but we may see them lower their inflation outlook. If that happens, it will mean that the BoJ will likely delay a policy change. That should be good for equities but, not so good for the Yen. However, we prefer to remain neutral on equities here given that the market has already run up significantly, and trading this event may be too volatile.
We also have a big week for US earnings. Not only do Netflix (Tue) and Tesla (Wed) report, but also we have Verizon, 3M, GE, RTX, J&J, P&G, DR Horton, Visa, American Airlines, ASML, AmEx… and more. So yes, a big week!
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