Fed Minutes, Carney, EU Talks, Olympics: Week Ahead Feb. 15-22

February 15, 2014 by  
Filed under Wind Energy Tips

The Federal Reserve will release
minutes from its Jan. 28-29 meeting, the last presided over by
former Chairman Ben S. Bernanke and at which policy makers
further reduced the central bank’s record stimulus.

U.S. home sales and new home construction probably fell,
data in the coming week may show. Japanese GDP and Chinese
manufacturing data will be released.

Bank of England Governor Mark Carney will be interviewed on
BBC television.

The U.S. and European Union will resume talks as the
world’s two largest economies try to reach a trade pact.

Wal-Mart Stores Inc. (WMT:US), Hewlett-Packard Co. (HPQ:US), BHP Billiton Plc (BLT)
and MGM China Holdings Ltd. (2282) report earnings.

The U.S. and Russian men’s hockey teams face off at the
Winter Olympics. European soccer’s Champions League round of 16


-U.S. Secretary of State John Kerry continues a trip to Asian
capitals intended to signal the Obama administration’s greater
commitment to the region. After meetings in Beijing, Kerry
travels to Jakarta and Abu Dhabi.

-Obamacare enrollment deadline. Uninsured Americans who want
coverage effective March 1 must sign up by today. About 3.3
million Americans have so far enrolled in private plans under
the law. The administration said last month it would increase
its outreach efforts to enroll more Americans under age 35, who
so far have comprised about 31 percent of sign-ups.

-The Winter Olympics men’s hockey schedule at Sochi includes the
host nation playing the U.S., with Russian President Vladimir Putin in attendance. The U.S. defeated the Soviet Union at the
1980 Olympics in what became known as the “Miracle on Ice.” It
was the last year the U.S. won the gold medal, by defeating
Finland. 16:30 local time (07:30 EST).


-Bank of England Governor Mark Carney will be interviewed on
“The Andrew Marr Show” on BBC television after the central
bank published new economic forecasts and policy guidance.
European Commission President Jose Barroso will also be
interviewed on the show. 09:00 London (04:00 EST).

-Egypt begins the trial of ousted President Mohamed Mursi and
fellow Islamist leaders on charges of colluding with foreign
organizations to carry out acts of terrorism and divulging
defense secrets.

-Hungary’s state of the nation speech. Prime Minister Viktor Orban gives the annual speech as his campaign gets under way for
the April 6 parliamentary election. Orban, whose Fidesz party
leads in all polls, may make election promises as he defends
four years of economic policies he has described as
“unorthodox.” 15:00 CET (09:00 EST).

-ECONOMY: Israel gross domestic product (fourth quarter, first

-NBA. The 63rd National Basketball Association All-Star Game
begins as the best players representing the East and West
conferences play one another. In New Orleans. 20:00 EST.

-The Winter Olympics skiing schedule includes the men’s Super G,
which combines elements of slalom and downhill racing. Aksel Lund Svindal of Norway will attempt to defend his title. 11:00
local time (02:00 EST).


-Presidents Day. U.S. national holiday. U.S. stock and bond
markets are closed.

-U.S.-EU trade talks. U.S. Trade Representative Michael Froman
and European Union Trade Commissioner Karel De Gucht meet to
assess progress toward reaching a Trans-Atlantic Trade and
Investment Partnership free-trade accord. The pact would unite
the world’s two largest economies with $32.9 trillion in annual
output. Both sides are seeking an agreement by the end of 2014.
Revelations about the U.S.’s surveillance of European leaders
have hampered negotiations. Times to be determined. Through

-European Central Bank Governing Council member Ewald Nowotny
speaks at an event in London about Austria’s role in the
European economic recovery. 11:00 (06:00 EST).

-Batista’s bankruptcy plan for OGX. Oleo Gas Participacoes SA,
Eike Batista’s oil company that requested protection from
creditors, must present by today a plan for emerging from
bankruptcy. The filing may detail operating and financial
estimates for the coming months. In Rio de Janeiro.

-A South Korean court is expected to rule on charges against an
opposition lawmaker accused of leading a plot to overthrow the
government. Time to be determined.

-Japan’s economy probably expanded for a fifth quarter in the
Oct.-Dec. period, GDP data will show, as fiscal and monetary
stimulus provided a boost for the economy. 08:50 in Tokyo (02/16
18:50 EST).

-Thailand will release GDP data for the fourth quarter as
political unrest threatens the country’s expansion. The economy
probably grew 0.3 percent from a year earlier, compared with a
2.7 percent pace in the previous three months, according to a
Bloomberg survey. 09:30 in Bangkok (2/16 21:30 EST).

-Bank of Israel Governor Karnit Flug speaks at the Central
Bureau of Statistics seminar on Israeli society in Jerusalem.
09:25 local time (02:25 EST).

-Israeli Finance Minister Yair Lapid speaks at the Conference of
Presidents of Major American Jewish Organizations meeting in
Jerusalem. 16:15 local time (09:15 EST).

-ECONOMY: South Korea department, discount store sales (Jan.),
Turkey unemployment rate (Nov.), U.K. Rightmove House Prices (UKRMNAPM)

-EARNINGS: Suntory Holdings Ltd., Christian Dior SA. (CDI)

-The Winter Olympics schedule includes the two-man bobsled
final. 18:30 local time (09:30 EST). Medals will also be decided
for ice-dance figure skating at 19:00.


-Calpers report. California Public Employees’ Retirement System,
the largest U.S. public pension, issues a report that will
outline potentially higher costs for the $275.2 billion fund.
California Governor Jerry Brown is pressing Calpers to account
for the higher cost of longer life expectancy for retirees,
which may add $9 billion to the pension’s funding gap. The
Calpers board is expected to decide whether to adopt Brown’s
recommendation or delay changing contribution rates for two
years. 15:15 in Sacramento, California. (18:15 EST).

-Ex-Jefferies broker-dealer goes on trial. Jesse Litvak is
charged with a $2 million fraud through a program that used
government bailout funds to spur investment in mortgage-backed
securities. He allegedly misrepresented how much financial firms
were asking for the securities or what funds established under
the Troubled Asset Relief Program were willing to pay, keeping
the difference for Jefferies. 09:30 at the federal court in New
Haven, Connecticut.

-The Bank of Japan will announce monetary policy at the end of a
two-day meeting in Tokyo. The bank has kept policy unchanged
since April last year, when it announced its unprecedented
quantitative easing policy in a bid to achieve 2 percent
inflation. Timing uncertain, with the meeting usually ending at
about 12:00 in Tokyo (2/17 22:00 EST). The meeting is usually
followed by a press conference with Governor Haruhiko Kuroda at

-European Central Bank Chief Economist Peter Praet speaks in
Lisbon at 10:20 local time (05:20 EST). ECB Governing Council
member Luis Maria Linde speaks at 12:00 in Madrid (06:00 EST).
Governing Council member Erkki Liikanen speaks at 17:30 in
Helsinki (10:30 EST).

-The World Gold Council, a producer-funded group, will issue
global estimates for consumption of gold in bars, jewelry and
coins for the final quarter of 2013 and for the whole of last
year. 06:00 in London (01:00 EST).

-Representatives of Satorp, a joint venture between Saudi
Arabian Oil Co. and Total SA, and the Oman Oil Refineries and
Petroleum Industries Co. will attend the ME-TECH 2014 Middle
East Technology Forum in Dubai. 08:00 (02/17, 23:00 EST).
Through 02/19.

-ECONOMY: Empire manufacturing (Feb.), U.S. capital flows
(Dec.), South Korea producer prices (Jan.), Taiwan final GDP
(4Q), Hong Kong unemployment (Jan.), EU car registrations
(Jan.), ECB current account (Dec.), German ZEW survey (Feb.),
U.K. inflation (Jan.), Italian trade balance (Dec.).

-CENTRAL BANKS: Chile rate decision, Reserve Bank of Australia
minutes (Feb.), Turkey rate decision.

-EARNINGS: Coca-Cola Co. (KO:US), Herbalife Ltd. (HLF:US), Wal-Mart de Mexico
SAB, Oi SA, Bank of East Asia Ltd., Gas Natural SDG SA (GAS), Air
Liquide SA (AI), BHP Billiton Plc, Casino Guichard-Perrachon SA. (CO)

-The Winter Olympics schedule includes the women’s giant slalom,
won by Germany’s Viktoria Rebensburg in 2010. 11:00 local time
(02:00 EST).

-European soccer’s Champions League round of 16 starts, with
Germany’s Bayer Leverkusen playing Paris Saint-Germain at 20:45
CET (14:45 EST). Manchester City hosts four-time European Cup
winner Barcelona at 19:45 U.K. time (14:45 EST).


-U.S. housing starts, or the construction of new homes, probably
declined for a second month in January, according to a Bloomberg
survey, as colder-than-normal weather and snowfall kept builders
from starting work. The Commerce Department reports at 08:30 in

-Fed minutes. The Federal Reserve releases minutes of its Jan.
28-29 meeting at which the Federal Open Market Committee
announced a $10 billion reduction in monthly bond purchases to
$65 billion, citing improvement in the labor market and a pickup
in growth. During the final meeting under former Chairman Ben S. Bernanke, policy makers united behind a strategy to gradually
wind down bond buying that has expanded the Fed’s balance sheet
to $4.1 trillion. Janet Yellen, sworn in as Fed chair on Feb. 3,
reiterated her support for taking “measured steps” in tapering
Fed purchases in Feb. 11 testimony before the U.S. Congress.
14:00 in Washington.

-North American Summit. President Barack Obama, Mexican
President Enrique Pena Nieto and Canadian Prime Minister Stephen Harper are expected to focus on the regional economy, trade and
energy as well as border security and drug trafficking. In
Toluca, Mexico. Times to be announced.

-Hearing on Bank of America’s $8.5 billion accord with mortgage-bond investors. A judge will hear arguments from American
International Group Inc. and other objectors who say further
litigation is necessary on which trusts will be covered, how
much of the money will be distributed to trust beneficiaries,
and how it will be allocated. The objectors want the final
judgment delayed. 09:30 at the New York State Supreme Court,

-Bank of England minutes. The BOE publishes the minutes of the
Monetary Policy Committee’s Feb. 5-6 meeting, at which officials
kept the key interest rate at a record low of 0.5 percent. The
minutes will provide insight into the MPC’s discussions on its
new phase of forward guidance and show whether any members
disagreed with the plan. 09:30 in London (04:30 EST).

-ECONOMY: U.S. producer price index (Jan.), U.S. building
permits (Jan.), South Africa consumer-price inflation (Jan.),
Euro-area construction output (Dec.), U.K. unemployment (Oct.-
Dec.), Swiss ZEW survey (Feb.).

-EARNINGS: Tesla Motors Inc. (TSLA:US), Marriott International Inc. (MAR:US),
Carlyle Group LP (CG:US), MGM China Holdings Ltd., Sina Corp. (SINA:US), Credit
Agricole SA (ACA), Deutsche Boerse AG, Mediobanca SpA (MB), Natixis SA (KN),
Peugeot SA (UG), Thales SA (HO), Lafarge SA (LG), Iberdrola SA (IBE), Carlsberg A/S. (CARLB)

-The Winter Olympics schedule includes medal events in the men’s
giant slalom, where Ted Ligety of the U.S. is due to compete.
11:00 local time (02:00 EST). The women’s 5,000-meter speed
skating is at 17:30.

-Atletico Madrid plays AC Milan in the Champions League in the
northern Italian city. 20:45 CET (14:45 EST). Arsenal meets
five-time champion Bayern Munich in London at 19:45 (14:45 EST).


-U.S. leading indicators index. The gauge probably climbed in
January, according to a Bloomberg survey, underscoring the view
of Federal Reserve policy makers that the economy is improving.
The Conference Board reports at 10:00 in New York.

-U.S. consumer prices probably increased in January at a slower
rate than the previous month, according to a Bloomberg survey,
showing inflation is making little progress toward the Federal
Reserve’s 2 percent goal. The Labor Department reports at 08:30
in Washington.

-U.S. bond auction. The Treasury Department is scheduled to sell
$9 billion in 30-year inflation-indexed bonds, known as Treasury
Inflation Protected Securities or TIPS.

-The U.S. National Transportation Safety Board releases
investigative records and holds a one-day hearing into the Aug.
14, 2013, crash of an Airbus A300-600 that killed two pilots for
United Parcel Service Inc. in Birmingham, Alabama. The hearing
will examine factors including the execution of the approach and
whether the pilots were fatigued. 08:30 in Washington.

-Japan reports January trade figures after the nation posted a
record 11.5 trillion yen ($113 billion) deficit in 2013 as the
weaker yen pushed up the bill for imported energy. The trade
deficit in the first 20 days of January was 2 trillion yen, a
record in comparable data going back to 1990. Trade statistics
in January and February can be affected by the lunar new year
holiday in many Asian nations. 08:50 in Tokyo (02/19 18:50 EST).

-ECB Vice President Vitor Constancio speaks at 11:30 in Brussels
(05:30 EST).

-Egyptian trial begins of nine Al Jazeera staff journalists and
11 others on charges of backing a terrorist organization, airing
false news and portraying the country as engaged in a civil war.

-A preliminary reading of a Chinese manufacturing purchasing
managers’ index for February will be released by HSBC and Markit
Economics. The index fell to below 50 in January for the first
time in six months, signaling a contraction. 09:45 in Beijing
(02/19 20:45 EST).

-North and South Korea begin a six-day reunion of families
separated by the 1950-53 Korean War at an eastern mountain
resort in the North. The reunions, the first since late 2010,
represent one of the last remaining links to a united Korea.
Millions of Koreans were separated during the conflict that
ended in a truce and without a peace treaty.

-Executives from State Oil Co. of the Azerbaijan Republic,
Rosneft OAO and Lukoil OAO will attend the Russia CIS Oil
Gas Executive Summit in Dubai. 09:00 (00:00 EST). Through 02/21.

-The U.S. Energy Information Administration releases its weekly
natural gas supply report. 10:30 in Washington.

-ECONOMY: U.S. initial jobless claims (weekly), Bloomberg
consumer comfort (weekly), Brazil unemployment (Jan.), Singapore
final GDP (SGDPQOQ) (4Q), Taiwan export orders (Jan.), Taiwan current
account (4Q), Euro-area PMIs (ECPMICOU) (Feb.), euro-area consumer
confidence (Feb.), German PPI (GRPFIYOY) (Jan.), French CPI (FRCPEECY) (Jan.), Italian
industrial orders (Dec.), U.K. CBI factory orders (Feb.).

-EARNINGS: Wal-Mart Stores Inc., Hewlett-Packard Co.,
Priceline.com (PCLN:US) Inc., Nordstrom Inc. (JWN:US), Express Scripts Holding
, Groupon Inc. (GRPN:US), Citic Pacific Ltd. (267), Wilmar International
Ltd. (WIL), Swiss Re AG (SREN), Henkel AG, BAE Systems Plc (BA/), Centrica Plc (CNA),
Aegon NV (AGN), Danone (BN), Air France-KLM (AF), Accor SA. (AC)

-The Winter Olympics schedule includes the end of the women’s
figure-skating event at 19:00 local time (10:00 EST). The
women’s gold medal in curling will be decided, starting at
17:30, as will the women’s hockey final at 21:00.


-U.S. existing home sales. Purchases of previously owned homes
probably declined in January, according to a Bloomberg survey,
as higher mortgage rates at the end of 2013 restrained momentum
in the housing-market recovery. The National Association of
Realtors reports at 10:00 in Washington.

-Securities and Exchange Commission Chairman Mary Jo White
delivers the keynote address to the Practising Law Institute
conference. 08:45 in Washington.

-The Canadian Liberal Party, led by Justin Trudeau, holds its
biennial convention in advance of the 2015 general election.
Trudeau booted 32 senators from the party’s caucus in January.
The Liberal Party has fallen to third in number of seats behind
Prime Minister Stephen Harper’s Conservatives and the New
Democrats. Starts 18:00 in Montreal. Through Feb. 23.

-Singapore Finance Minister Tharman Shanmugaratnam will deliver
the government’s budget statement for 2014 and unveil the
details of a so-called Pioneer Generation Package designed to
reduce medical expenses for the elderly. Prime Minister Lee Hsien Loong has in recent years encouraged companies to produce
more with fewer workers as the island confronts an aging
population and voter discontent with foreigners in the country.
15:30 in Singapore (02:30 EST).

-The U.S. Department of Agriculture releases its monthly cold
storage report and its cattle-on-feed report. 15:00 in

-ECONOMY: Canadian inflation (Jan.), Brazil mid-month inflation
(Feb.), Brazil current account (Jan.), Mexico GDP (MXGCTOT) (fourth
quarter), Hong Kong CPI (HKCPIY) (Jan.), U.K. retail sales (Jan.); U.K.
budget balance (Jan.), Italian CPI (ITCPEY) (Jan.), Spain trade balance

-CENTRAL BANKS: Bank of Japan minutes (Jan.).

-EARNINGS: Charter Communications Inc. (CHTR:US), Gerdau SA, AIA Group
Ltd. (1299), Noble Group Ltd. (NOBL), Esprit Holdings Ltd. (330), Axa SA. (CS)

-SOVEREIGN RATING UPDATES: Abu Dhabi (Fitch), Austria (Fitch),
Czech Republic (Moody’s), Democratic Republic of Congo (SP),
Ireland (Fitch), Montenegro (Moody’s), Norway (Moody’s), Spain
(Moody’s), Uganda (Fitch), Ukraine (SP).

-The Winter Olympics schedule includes the medal event in
women’s slalom skiing, with the final run at 20:15 local time
(11:15 EST). Germany’s Maria Hoefl-Riesch will aim to repeat her
2010 win in Vancouver.

-Wales, seeking a third-straight Six Nations rugby title, hosts
France at Cardiff. 20:00 local time (15:00 EST).


-Talks on a 12-nation Trans-Pacific Partnership trade pact begin
in Singapore, the latest round of ministerial-level
negotiations. Previous talks in December, also held in
Singapore, failed to meet the end of 2013 deadline to wrap up
the U.S.-led trade deal, which would link an area with about $28
trillion in annual economic output.

-G-20 finance ministers central bank governors meet in Sydney
to discuss tax reform, infrastructure investment and ways to
boost economic growth. Feb. 22-23.

-The Winter Olympics schedule includes the men’s slalom skiing
event, with the final run at 20:15 local time (11:15 EST). The
men’s bronze-medal game in hockey is at 19:00.

-Italy hosts Scotland in Rome in rugby’s Six Nations tournament
at 14:30 CET (08:30 EST). England plays Ireland at Twickenham.
16:00 local time (11:00 EST).

Note to our readers: Click on blue ECONOMY headline at bottom of
each day for access to Bloomberg’s complete global economic

To contact the reporters on this story:
James Amott in London at
Greg Miles in New York at
Keat Kian Koh in Singapore at

To contact the editor responsible for this story:
Andy Davidson at

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