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Sunday, February 26

26th Feb - Weekly Support

Here are the links to the weekly roundups, reviews and also previews of the beginning week. Last week’s ‘Weekly Support’ is here.

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Weekly ScoreboardBetween The Hedges

Succinct summation of week’s eventsThe Big Picture

Weekly Market ReviewZH
Late-Day Panic-Buying Sends Dow To Longest Record Streak In 30 Years

Bloomberg’s What'd You Miss in Markets This Week? – Youtube

S&P 500 Snapshot dshort

US Schedule for WeekBill McBride

Economic Calendar – Berenberg

Wall St Week AheadReuters
Record-setting stock rally faces test in Trump speech

Weighing the Week Ahead Jeff Miller

It is a big week for economic data and the first address to Congress from the new President. Most of the punditry is engaged in a collective head-shake about overbought conditions. Even if the data flow remains strong, pundits will be asking: Have stock prices lost touch with reality? 

EcoWeekBNP Paribas
The Fed knows it knows nothing FOMC members underscore the uncertainty looming over fiscal policy. When in doubt, abstain * The quality of Germany’s infrastructure is deteriorating because of lack of spending. In particular, the municipalities have reduced their investments * Another try The Eurogroup meeting held earlier this week failed to reach a political agreement on Greece. A solution will eventually be found as each party makes concessions, although the size of these efforts has yet to be determined.

Week AheadNordea
US President Trump’s address to the Congress will take centre stage next week. How concrete he chooses to be about his plans, we don’t know. Get ready to be surprised. There is also heavy data supply from the Nordic countries.

Weekly Focus Danske Bank
Tue: Trump speech - finally details on tax policy? Wed: US PCE inflation

Strategy Danske Bank
Holding an EU/euro referendum would be difficult for Le Pen without strong parliamentary backing * EUR periphery spread widening if Le Pen wins but ECB to stand ready to ease financial spillovers * Nordic FX and FI markets would see safe-haven inflows if Le Pen wins

Week AheadHandelsbanken

Global Week AheadScotiabank
US: Jawboning to dominate data * Asia: More cautious Chinese manufacturers? * Europe: Reflation or disinflation?

Weekly FX Sentiment Report Scotiabank

Weekly Market OutlookMoody’s
Low VIX and Thin Spreads Could Be on Thin Ice

Macro Weekly ABN AMRO
Eurozone PMI rises strongly * US PMI eases; diversion with Philly Fed index cannot last * UK growth continues to defy Remain-camp predictions, but far too early for Brexiteers to claim victory as business spending stalls * Global trade continues strong momentum

Speculative Positioning Marc Chandler
Speculators Grow Net Long Dollar-Bloc Currency Futures, while Bears Jump on Short Euro

FX OutlookMarc Chandler
Ranges Dominate in FX: Respect the Price Action

Macro CommentMarc Chandler
Macroeconomics and Psychology

FX4 Next Week: Keeping an open mind on Trump’s speechTF
US treasury secretary Steven Mnuchin's comments have dampened expectations for the US president's speech to Congress on Tuesday, but we prefer to keep an open mind going into that event.

Weekly Market Summary Fat Pitch
All of the US equity indices made new all-time highs again this week. Treasuries were the biggest winner. A drawdown of at least 5-8% in SPX is odds-on before year year end, but there are a number of compelling studies suggesting that 2017 will probably continue to be a good year for US equities.

Aurelija Augulyte’s Weekly FX: Catch 22Nordea
The dollar is struggling despite recently good data and comments. Can Trump safe the rally? Or will it kill itself... China, euro area not immune to a slowdown, but US pays the first bill (in USD).

Bonds: Lifting uncertainty to lift ratesNordea
While improving economic data have not been able to lift rates further in the US, clarity about Trump’s fiscal plans may just do the trick. More certainty about a fiscal boost would also free the market to price in more Fed tightening.