063 - Poor retail sales and industrial production but Fed pushes back

<p>Last week:</p> <ul> <li>Poor retail data and industrial production (PPI)</li> <li>Fed speakers:</li> <li>Brainard, Harker, Waller: —&gt; rate hikes but Harker, Waller (amongst others) for 25 bps going forward. Blackout period for the Fed.</li> <li>BoJ: Surprise to markets but not to economists. Kept 50bps defence level on JGBs. Door for normalisation is open. Upgraded CPI forecast for the year.This week:</li> <li>Chinese markets are closed for the Lunar New Year celebration.</li> <li>Oil moving on the back of China optimism.</li> <li>Hawkish commentary by the ECB.</li> <li>BoC to hike by 25bps?</li> <li>US: PCE on Friday, Q4 GDP on Thurs.</li> <li>Inflation for AU, NZ - both on Wed.</li> <li>Earnings: MSFT, TSLA.</li> <li>NFLX came in last week —&gt; beat subscriber forecast by 66%.</li> </ul>