Coach Mark here.

There is usually a theme for the week when you look ahead and this week is no different. We get a heavy dose of central banks from around the world. Yes, there is the token economic data this week but it will overshadowed heavily by central bank action.

I have not had to navigate the FOMC meeting much in recent months as what they would say and do has been well telegraphed. Since the Fed pivot, liquidity has been flowing, financial conditions have been loosening, and Jay Powell and his fellow central bankers have done very little to push back on that. There is a little bit of intrigue this meeting with recent inflation coming in hot and commodity prices starting to look frisky. Will Powell push back on that hard? Most likely not but it does add an element of suspense to Wednesday’s meeting that has me waiting until Wednesday afternoon to do most of the plays I want to do this week.

Bet the Fed is not the only game in town this week. The Bank of Japan is set to raise interest rates for the first time in a LONG time this week, and central bank meetings out of Switzerland, Australia, and England this week. Often times there is a coordinated message from central banks that can give us the clue of what the collective policy will be in the coming months.  

So, we certainly have a central bank palooza this week and we will be there on the Halftime Report every day this week to break it all down. Have a fantastic start to your week!

Chart of the Day: Gasoline Futures (/RB)

Does Jay Powell care about this chart? Probably not today but commodities have been vey frisky lately. If these charts continue to go up it might make inflation a subject that will be hard to ignore.

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