MILANO – Spotlights on the Italian vote in the week that opens. The reaction of the markets to the outcome of the elections will be under observation, while Italian government bonds are already heavily under stress in recent weeks due to recession fears. For Italy, in addition to the electoral consultation, there are, however, two other important appointments scheduled: by 27 September the outgoing executive should approve the Update note to the Defthe scaffolding of accounts on which M will standanovra of the next government. The review of the rating agency’s rating is expected on Friday Moody’s, the first international judgment on market expectations for the new government. Also on Friday, provisional data on the trend in consumer prices in September, released by Istat, are also arriving.
On the front of the macroeconomic data expected then the confidence indexes of consumers in Germany, France, Italy and the USA, while the first estimate of the Third quarter GDP Thursday 29 September, as well as a new update oninflationthe PCE core, the preferred indicator of Fed for monetary policy decisions.
The list of appointments reported by the breaking latest news
– MONDAY 26 SEPTEMBER
– OECD: dissemination of the Interim Economic Outlook.
– ECB: ECB President Christine Lagarde in Brussels at a hearing at the Economic and Monetary Affairs Commission of the European Parliament.
– Germany: third quarter GDP; release of Ifo data for September expectations.
– Japan: Manufacturing SMEs in September.
– ECB: De Guindos, Nagel and Panetta speeches in Frankfurt.
– ECB: The Vice President of the ECB Luis de Guindos intervenes in a dialogue of the Spanish Association of Directors in Madrid.
– USA: Mester speech (Fed voting) on the economic outlook.
TUESDAY 27 SEPTEMBER
– Istat: non-EU foreign trade in August.
– Government Bonds: auction of short BTPs and BTPEIs.
– INPS: Observatory on Income and Citizenship Pension April 2019 – August 2022.
– Bank of Italy: “Money and other information on the financial statements of MFI resident in Italy”.
– Uilca: national congress in Rome. Giovanni Sabatini, general manager of Abi, participates.
– Assolombarda: in Milan for Sole 24Ore ‘TuttoRisparmio’, with Cesare Armellini, President of Nafop, Germana Martano, General Manager of Anasf, and Tiziana Togna, Deputy General Manager of Consob.
– Nexi: a Milano Capital Markets Day.
– ECB: Villeroy’s speech in Paris.
– ECB: in Paris, ECB President Christine Lagarde participates in a panel of the Bank of France’s conference “Opportunities and challenges of the tokenisation of finance which role for Central Banks”.
– ECB: in London, the vice president of the ECB Luis de Guindos speaks at the Barclays-Cepr International Monetary Policy Forum.
– USA: August durable goods orders; spread of house prices in July; consumer confidence.
– USA: Fed President Jerome Powell participates in a panel on digital currencies.
– USA: Bullard speech (voting Fed) on economics and monetary policy.
– USA: Evans speech (voting Fed) on the economic outlook.
– Opec: in Vienna publishes World Oil Outlook
WEDNESDAY 28 SEPTEMBER
– Istat: consumer and business confidence September; industry turnover in July.
– Government Securities: Bot auction.
– Uilca: national congress in Rome. Participants, among others, Andrea Orcel, CEO of the UniCredit Group; Antonio Patuelli, president of Abi; Giuseppe Castagna, at Banco Bpm; Carlo Messina, CEO of the Intesa Sanpaolo Group; Elena Goitini, to Bnl.
– Energy: in Milan the Italian Energy Summit of the Sun 24. With Fabio Tamburini, Stefano Besseghini, President Arera, Francesco Starace, CEO Enel, Claudio Descalzi, CEO Eni, Stefano Venier, CEO Snam Stefano Donnarumma, Ad Terna, Renato Mazzoncini, CEO A2A , Luca Dal Fabbro, President of Iren, Giuseppe Marino, Ad Ansaldo Energia.
– Meeting of the Carlo Alberto College Foundation “Electoral law and constitution”: in Turin participates, among others, Francesco Profumo, president of the Compagnia di San Paolo Foundation.
– ECB: in Frankfurt, ECB President Christine Lagarde participates in a discussion at the Frankfurt Forum on Us-European GeoEconomics organized by the Atlantic Council.
– Germany: consumer confidence in October.
– France: consumer confidence in September.
– USA: August trade balance; oil stocks.
THURSDAY 29 SEPTEMBER
– Istat: producer prices for industry and construction in August.
– Government bonds: BTP auction.
– Uila: national congress in Rome, introductory speech Stefano Mantegazza, general secretary.
– Insurance: in Rome: ‘Bancassurance 2022’, an event promoted by Abi and Ania. Participants, among others, Mauro Pastore, CEO of Iccrea Banca.
– Italgas: “185 years in Turin: a new stage of our journey towards the future”.
– Carige: in Genoa seminar “Guidelines for the valuation of properties as collateral for credit exposures”.
– Inapp: conference in Benevento on “Use and perspectives of Smart working” with the presentation of the results of two reports; with Inapp president Sebastiano Fadda.
– ECB: in Brussels, ECB adviser Fabio Panetta is at a hearing at the Economic and Monetary Affairs Commission of the European Parliament.
– ECB: in Vilnius, ECB Vice President Luis de Guindos speaks online at the “Future of Central Banking” conference organized by the Bank for International Settlements and the Bank of Lithuania.
– ECB: in Frankfurt de Guindos spoke at the ECB Workshop “Working Group on Stress Testing”.
– Germany: inflation in September.
– Gb: consumer credit in August.
– Spain: inflation in September.
– USA: third quarter GDP; new applications for unemployment benefits.
– Banks: in Brussels European Banking Summit 2022 – Reinforcing Resilience in a New Reality, organized by the European Banking Federation. Giovanni Sabatini, General Manager Abi participates.
– Banks: “Armundia TalkInn 2022” event in Milan with Gianluca Berghella, CEO of Armundia Group, Federico Ghizzoni, President of Rothschild Italy Giovanni Pirovano, President of Banca Mediolanum.
– USA: interventions on the monetary policy of Mester (Fed) and Lane (ECB) in New York
FRIDAY 30th SEPTEMBER
– Istat: provisional estimate of the data on employed and unemployed in August; consumer prices in September.
– Italy: Moody’s updates the rating.
– Leonardo: the first “digital” high school presentation ceremony in Rome. With the President of Leonardo, Luciano Carta, the CEO, Alessandro Profumo, the President of the Leonardo-Civiltà delle Macchine Foundation, Luciano Violante, as well as students and parents. Greeting video message from the Minister of Education, Patrizio Bianchi. – Consob: webinar “Artificial intelligence, asset and wealth management” in Rome.
Among others, Carlo Comporti, Consob commissioner, Fabrizio D’Ascenzo dean of the Faculty of Economics of the La Sapienza University will participate.
– China: manufacturing and non-manufacturing SMEs September.
– Japan: August unemployment rate and industrial production; family trust.
– India: central bank decides on rates.
– France: September inflation; consumption expenses.
– Germany: import prices and retail sales in August: unemployment rate in September.
– Gb: second quarter GDP.
– Eurozone: September inflation.
USA: personal income and expenditure for August.
– ECB: in Pontevedra (Spain) the ECB councilor Isabel Schnabel participates in the congress “Fight against inflation” at the La Toja Forum.
– ECB: in Cleveland the chief economist of the ECB Philip Lane participates in the policy panel “Inflation: Drivers and Dynamics 2022” during a conference of the Federal Reserve Bank of Cleveland and the ECB.
– EU: energy ministers meeting in Brussels.
– USA: Brainard and Williams (Fed voting) speech on financial stability in New York.