What’s in Today’s Report:
- Why The Next Few Weeks Are Critical for the Bond Market
- Weekly Market Preview: Earnings Season Starts
- Weekly Economic Cheat Sheet: Inflation This Week
Futures are slightly lower following a very quiet weekend of news as markets wait for the start of earnings this week along with updated inflation data.
G-20 finance ministers agreed to move forward with a plan for a global minimum tax, but this remains a very, very long way from actual implementation.
China’s reserve requirement ratio cut remained top of the news but it’s unlikely to provide major stimulus and as such it’s not a material bullish catalyst for global stocks.
Today there are no economic reports and just two Fed speakers: Williams (9:30 a.m. ET) and Kashkari (12:00 p.m. ET). As was the case last week, we expect yields to dictate trading in stocks, so if Treasury yields continue to bounce, stocks should extend Friday’s rally.