Inflation and rates, the markets awaiting the messages of Powell and Lagarde, the placement of the Italian BTP is underway

MILAN – It promises to be a busy week on the markets front later turbulence of the past few days related to the moves of Central banks. Great expectations also for the annual Consob reportbut also on that of large companies, with the new industrial plan of Mpsand the Board of Directors of Generali which should solve the governance puzzle.

Investors await indications on the Fed’s next moves by the president Jerome Powell, which will be audited on Wednesday in the Senate and Thursday in the House: the American central banker will be able to correct the game or confirm what came out of last week’s meeting, when he was more ‘hawk’ than ever on inflation and rates. But the spotlight is also on the ECB, which will release the Monthly Bulletin (again Thursday) with the new economic estimates while president Christine Lagarde it will be heard on Monday by the Economic Affairs Commission of the European Parliament: the market is waiting to know in detail the anti-spread shield which according to European sources could arrive by June 27date by which the Forum of the European Central Bank in Sintrain Portugal.

According to some rumors circulating in financial circles, it could be worth 500 billion euros. Everything still remains rather nebulous, even if analysts and experts imagine that the plan should allow for buy bonds for the states with the greatest debt. There may also be constraints for beneficiary countries. The conditional, however, remains a must.

Another appointment on the agenda is the one concerning the indices Manufacturing and services SMEs of the US and the main European economies, scheduled for Thursday and which will anticipate the economic trends of June. Finally, it should be noted Wall Street closes on Monday for the celebration of Juneteenth and the beginning of placement of the BTP Italy (until Thursday).

Monday 20 June
– China: prime rate, June. 3.15 am.
-Germany: producer prices, May. 8.00 am.
-Europe: the pECB resident Christine Lagarde it is heard at the Economic Affairs Commission of the European Parliament
– Italy: the placement of the Btp Italywhich continues until Thursday
-Use: Wall Street is closed for Juneteenth celebration

Tuesday 21st June
-Rome: Annual report of the Consobwith the usual speech of the president Paolo Savona to the markets
-Italy: the Generali Nomination Committeeon the eve of the council, to decide on the replacement of the resigning director Francesco Gaetano Caltagirone
-Use: the data of the existing home sales in May, where the consensus is down by 3.7% after the -2.4% recorded in April. 16.00

Wednesday 22nd June
-England: the figure for theMay inflationexpected to rise to 9.2%, from 9% in April
-Italy: Board of Directors of Generaliwith on the agenda, among other things, the replacement of the director Caltagirone, and the formation of internal board committees
-Use: Fed President Jerome Powell is audited by the US Senate
-Europe: there is expectation for the consumer confidence figure June: 16.00

Thursday 23 June
-Japan: the figure for the PMI manufacturing and services index will be announced in June. 2.30 hours
-France: there is expectation for the PMI manufacturing and services index in June. 9.30 am
-Germany: the PMI manufacturing and services index will be announced for June at 9.30
-England: there is expectation for the PMI manufacturing and services index in June
– Europe: the Old Continent also communicates the manufacturing PMI index for June
– USA: day of big announcements from the macro front: new subsidy requests, the PMI manufacturing and services index for June, the data on inventories and production of crude oil and the June manufacturing index of the Kansas City Fed. Hearing of the Fed chairman to the Chamber
-Europe-: the economic bulletin of the ECB is released
-Italy: after months of study, both lift the veil on Industrial plan 2022-2026 by Mps
-Italy: the Conference is held in Rapallo Young entrepreneurs of Confindustria and which will see the big names in economics and politics as protagonists.

Friday 24th June
-Japan: data on theMay inflationstable expectation at 2.5%
-Germany: communicate the Ifo index on business expectations in June, expected to grow to 87.1% from the previous 86.9%
-Usa will be announced the data on new homes month on month of May expected to grow by 0.7% compared to April (-16.7%)

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