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Week inAdvance

Monday | Dec 12, 2022

Mon Dec 12 Golden Globes. | Tue Dec 13 US lawmakers probe FTX collapse. US-Africa summit. US CPI. | Wed Dec 14 SEC vote on equity market proposal. US FOMC rate decision. | Thu Dec 15 ECB rate decision. BOE rate decision. | Fri Dec 16 FSOC meeting. 'Triple witching' day. | Sun Dec 18 UN International Migrants Day.


All times are Eastern and subject to change.

Some of the world’s biggest central banks are holding monetary policy meetings in the coming days. The Federal Reserve is expected to raise rates by 50 basis points on Wednesday, marking a smaller hike than the three-quarter point increases they’ve undertaken at each of the last four policy meetings. US central bankers, including Chair Jerome Powell, have been signaling a slowdown in the pace of rate hikes while stressing borrowing costs will need to keep rising and remain restrictive for some time to beat inflation.


The European Central Bank is also expected to ease its recent pace of hikes to a half-point on Thursday. It’s a downshift that’s being aided by a less aggressive Fed and comes after inflation in the currency bloc cooled for the first time in 1 1/2 years. Also on Thursday, the Bank of England has its own rate decision, and investors are expecting another half-point increase. It has lifted interest rates eight times over the past year to 3% in an effort to avert a wage-price spiral. 


On Tuesday, all eyes will be on US inflation data for November, which is expected to come in at a slower 7.3% pace. At 7.7%, annual inflation in October was the softest since January — before the start of Russia’s war in Ukraine that triggered a worldwide surge in commodities and pump prices.

save the date

Wednesday, Dec 21

INVESTORS CMBS industry update

4 - 4:30 pm


Come when you can. Leave when you have to. Take your calls.

at the agencies

Tuesday, Dec 12 -

Thursday Dec 15

DEPARTMENT OF STATE

US President Joe Biden hosts the US-Africa Leaders Summit. Biden delivers keynote remarks on Wednesday.


Tuesday, Dec 13

BUREAU OF LABOR STATISTICS

US Consumer Price Index (CPI) report for November.


Wednesday, Dec 14

SECURITIES AND EXCHANGE COMMISSION

The SEC will vote on its proposal to write new equity-trading rules that would overhaul the payment for order flow model used by brokers and high-frequency trading firms. The proposals could include a "best execution" regulation for broker-dealers, and an "order competition rule" that requires some trades by retail investors "to be exposed to competition in fair and open auctions before they could be executed internally by any trading center that restricts order-by-order competition." The vote will kick off a process in which the regulator’s commissioners will take into account public feedback and then again vote months later for the rules to become final.


Wednesday, Dec 14

FEDERAL RESERVE

Federal Open Market Committee (FOMC) rate decision and Fed chair news conference.


Friday Dec 16

FINANCIAL STABILITY OVERSIGHT COUNSEL

A meeting at the Treasury Department will consist of an closed session and a public session. The preliminary agenda for the closed session includes market developments related to digital assets; work by the Inter-Agency Working Group on Treasury Market Surveillance; and the Securities and Exchange Commission’s proposed rule on open-end funds. The preliminary agenda for the public session includes the transition from Libor; the Federal Reserve’s work on climate-related financial risks; and FSOC's 2022 annual report.  

on the hill

Tuesday, Dec 13

HOUSE FINANCIAL SERVICES

Initial hearing investigating the collapse of cryptocurrency exchange FTX, Part 1.


Tuesday, Dec 13

SENATE BANKING, HOUSING, AND URBAN AFFAIRS

Subcommittee On Securities, Insurance, And Investment hearing: "Examining How Capital Markets Serve Diverse Entrepreneurs and Investors."


Wednesday, Dec 14

HOUSE FINANCIAL SERVICES

Hearing: Consumers First: Semi-Annual Report of the Consumer Financial Protection Bureau.


Wednesday, Dec 14

HOUSE WAYS AND MEANS

Subcommittee on Trade hearing: Promoting Sustainable Environmental Practices Through Trade Policy.


Wednesday, Dec 14

SENATE BANKING, HOUSING, AND URBAN AFFAIRS

Hearing: "Crypto Crash: Why the FTX Bubble Burst and the Harm to Consumers."


Thursday, Dec 15

SENATE BANKING, HOUSING, AND URBAN AFFAIRS

Hearing: "The Consumer Financial Protection Bureau’s Semi-Annual Report to Congress."

across the globe

Tuesday, Dec 13

LONDON, UK

The Bank of England releases its financial stability report.


Tuesday Dec 13 -

Thursday, Dec 15

GRAN CANARIA, Spain

OECD Digital Economy Ministerial Meeting.


Wednesday, Dec 14

MADRID, Spain (virtual)

2nd IOSCO STF (Sustainable Finance Task Force) Roundtable on Audit and Assurance of Sustainability-related Financial Disclosures.


Wednesday, Dec 14

BRUSSELS, Belgium

The European Union and the Association of Southeast Asian Nations will celebrate the 45th anniversary of their partnership at a summit.


Wednesday, Dec 14

TOKYO, Japan

The Bank of Japan will announce the outright purchase amount of Japanese government securities.


Monday, Dec 12 -

Thursday, Dec 15

STRASBOURG

European Parliament in plenary session.


Thursday, Dec 15

FRANKFURT, Germany

European Central Bank rate decision. ECB President Christine Lagarde holds a press conference.


Friday, Dec 16 -

Tuesday, Dec 20

JOHANNESBURG, South Africa

South Africa’s governing party begins its five-yearly elective conference. It’s a key event for investors as the outcome determines the country’s next president.

other events

Monday, Dec 12

BEVERLY HILLS, California

Hollywood Foreign Press Association’s 80th Golden Globe award nominees are set to be announced ahead of the awards ceremony on January 10.


Tuesday, Dec 13

The annual Geminids meteor shower is likely to peak this peak this evening, with sightings of shooting stars set to accelerate as the night progresses.


Friday, Dec 16

“Triple witching” day takes place in the US market, the quarterly event where the expiry of stock and index options collide with those of index futures.

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