Investors’ focus over the coming week will be squarely on the US central bank and whether or not it surprises with a 75 basis points interest rate hike on Wednesday.
Consensus is for a smaller 50bp hike in the target range for the Fed Funds rate.
But economists at Barclays Research believe that recent data showing continued broad-based price gains and signs that Americans’ medium-term inflation expectations are shifting higher argue for a surprise larger-than-expected move to help re-anchor them.t
Barclays also expects the Fed to then guide for smaller 50bp moves on rates at subsequent policy meetings until “clear and consistent” evidence is available that inflation is indeed coming down.
Against that backdrop, the Monetary Policy Committee is expected to follow suit with a smaller 25b rate hike the next day.
Bank is seen guiding towards a further 25bp hike in August and pausing afterwards.
Due out on Wednesday as well is a barrage of economic activity indicators for May out of the People´s Republic of China.
Rate-setters in Switzerland and Taiwan are also due to make policy announcements, on Thursday, and those in Japan come Friday.
Worth noting, especially given the recent pressure on the euro, European Central Bank boss, Christine Lagarde, is due to participate at an event hosted by the London School of Economics, on Thursday.
She will be followed by her number two, vice-President, Luis de Guindos, the next day. De Guindos is also due to deliver a speech on Monday.
Scheduled for release on home shores are figures for monthly gross domestic product on Monday, April unemployment on Tuesday, and retail sales on Friday.
Monday 13 June
FINALS
B.P. Marsh & Partners, Molten Ventures, Sirius Real Estate Ltd.
SPECIAL DIVIDEND PAYMENT DATE
ICG-Longbow Senior Secured UK Property Debt Investments Ltd
AGMS
British Smaller Companies VCT 2, CEPS, Mirriad Advertising , Spectra Systems Corporation, VPC Specialty Lending Investments
UK ECONOMIC ANNOUNCEMENTS
Balance of Trade (07:00)
Gross Domestic Product (07:00)
Index of Services (07:00)
Industrial Production (07:00)
Manufacturing Production (07:00)
FINAL DIVIDEND PAYMENT DATE
Hiscox Limited (DI), North American Income Trust (The)
Tuesday 14 June
INTERIMS
Crest Nicholson Holdings, Foresight Sustainable Forestry Company, Paragon Banking Group
INTERIM DIVIDEND PAYMENT DATE
NOTTS.B.S. 7 7/8% PERM INT BEARING SHS
QUARTERLY PAYMENT DATE
Round Hill Music Royalty Fund Limited NPV
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Price Index (GER) (07:00)
Producer Price Index (US) (13:30)
ZEW Survey (EU) – Economic Sentiment (10:00)
ZEW Survey (GER) – Current Situation (10:00)
ZEW Survey (GER) – Economic Sentiment (10:00)
Q3
Ferguson
FINALS
CML Microsystems, Discoverie Group, Iomart Group, OnTheMarket, Oxford Instruments, Palace Capital , Vianet Group
AGMS
Andrews Sykes Group, Coro Energy, Everyman Media Group , Fair Oaks Income Limited 2021 Shs NPV, IP Group, NB Private Equity Partners Ltd., Octopus Titan VCT , SDX Energy Inc. (DI), Somero Enterprises Inc. (DI)
TRADING ANNOUNCEMENTS
Bellway
UK ECONOMIC ANNOUNCEMENTS
Claimant Count Rate (07:00)
Unemployment Rate (07:00)
FINAL DIVIDEND PAYMENT DATE
Bank of Ireland Group (CDI), RHI Magnesita N.V. (DI)
Wednesday 15 June
INTERIMS
IDOX
INTERIM DIVIDEND PAYMENT DATE
Aeci 5 1/2% Prf
QUARTERLY PAYMENT DATE
Canadian General Investments Ltd.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (EU) (10:00)
Business Inventories (US) (15:00)
Crude Oil Inventories (US) (15:30)
Empires State Manufactacturing (US) (13:30)
Import and Export Price Indices (US) (13:30)
Industrial Production (EU) (10:00)
MBA Mortgage Applications (US) (12:00)
Retail Sales (US) (13:30)
Wholesale Price Index (GER) (07:00)
Q4
Ashtead Group
FINALS
Allied Minds , AO World, Castings, Severfield, Tatton Asset Management , WANdisco
AGMS
888 Holdings, Angling Direct , Christie Group, Dillistone Group, Distribution Finance Capital Holdings, Ferrexpo, Foresight Solar Fund Limited, Foxtons Group , IGas Energy, London & Associated Properties, NAHL Group, NB Global Monthly Income Fund Limited Red Ord Shs NPV £, Panther Securities, Phoenix Spree Deutschland Limited Shs NPV , Prospex Energy , PureTech Health , Science In Sport, Shanta Gold Ltd., Sourcebio International, Standard Life Investments Property Income Trust Ltd., Tortilla Mexican Grill, Whitbread
TRADING ANNOUNCEMENTS
WH Smith, Whitbread
FINAL DIVIDEND PAYMENT DATE
Ocean Wilsons Holdings Ltd.
Thursday 16 June
INTERIM EX-DIVIDEND DATE
Foresight Enterprise VCT , Impax Asset Management Group, Nexus Infrastructure , Tharisa (DI), Witan Investment Trust Plc
QUARTERLY PAYMENT DATE
Unilever
QUARTERLY EX-DIVIDEND DATE
Aberdeen Diversified Income and Growth Trust , Anglo Pacific Group, Brunner Inv Trust, Ediston Property Investment Company, XP Power Ltd. (DI)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Building Permits (US) (13:30)
Continuing Claims (US) (13:30)
Housing Starts (US) (13:30)
Initial Jobless Claims (US) (13:30)
Philadelphia Fed Index (US) (13:30)
FINALS
Best of the Best, Biffa, Halma, Jlen Environmental Assets Group Limited NPV, Syncona Limited NPV
SPECIAL DIVIDEND PAYMENT DATE
Alfa Financial Software Holdings
SPECIAL EX-DIVIDEND DATE
Keystone Law Group , Persimmon, Personal Assets Trust
EGMS
Ruffer Investment Company Ltd Red PTG Pref Shares
AGMS
AEX Gold Inc. NPV (DI), Alba Mineral Resources, Amati AIM Vct , Anexo Group , Anpario, Baillie Gifford China Growth Trust , Bisichi , Engage XR Holdings (CDI), EPE Special Opportunities Limited (DI), Evraz, Informa, International Consolidated Airlines Group SA (CDI), Kape Technologies, MHP SE GDR (Reg S), S4 Capital, TBC Bank Group, UK Commercial Property Reit Limited
TRADING ANNOUNCEMENTS
Boohoo Group
UK ECONOMIC ANNOUNCEMENTS
BoE Interest Rate Decision (12:00)
FINAL DIVIDEND PAYMENT DATE
Northbridge Industrial Services
FINAL EX-DIVIDEND DATE
3i Infrastructure, Amati AIM Vct , Downing Strategic Micro-Cap Investment Trust Red, Ferrexpo, Fidelity China Special Situations , Forterra, Inspired, Intermediate Capital Group, Jadestone Energy, JTC, Keystone Law Group , Land Securities Group, Maven Income & Growth VCT, Peel Hunt Limited NPV, Pets at Home Group , RS Group, S&U, Shanta Gold Ltd., TBC Bank Group, Warpaint London
Friday 17 June
INTERIM DIVIDEND PAYMENT DATE
Avingtrans, BlackRock Greater Europe Inv Trust, Cerillion , Sage Group
QUARTERLY PAYMENT DATE
Pershing Square Holdings Ltd NPV, Pershing Square Holdings Ltd NPV (USD)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Capacity Utilisation (US) (14:15)
Industrial Production (US) (14:15)
AGMS
Aseana Properties Ltd., Blackstone Loan Financing Limited (EUR), City of London Group, Directa Plus, EnQuest, Insight Business Support, Metals Exploration, Octopus Renewables Infrastructure Trust , Tesco
TRADING ANNOUNCEMENTS
Tesco
FINAL DIVIDEND PAYMENT DATE
Advanced Medical Solutions Group, Andrews Sykes Group, BlackRock Smaller Companies Trust, Burford Capital NPV (DI), Intertek Group, Keywords Studios, M. P. Evans Group, Midwich Group, Mincon Group (CDI), Pagegroup, Petershill Partners , Science Group
