It seems like old times: the big economic news took place on Sunday as eurozone finance ministers and the IMF pledged $60 billion in three-year loans to Greece at below-market interest rates, following George Soros’s warning in the Financial Times that Europe was “on the brink..” The lead editorial in the Wall Street Journal on April 12 details the lessons the United States can learn from Greek’s woes.
While Greece likely will move at least the currency markets this week, the quarterly earnings season begins in earnest as well, with Charles Schwab and JPMorgan Chase scheduled to report on April 14 and Bank of America on April 16.
As for economic reports this week, on April 12, the Business Cycle Dating Committee of the National Bureau of Economic Research will issues its latest assessment of the so-called Great Recession. The CPI is released April 14, along with retail sales and business inventories. On April 15, the housing market index and weekly first-time jobless claims are reported.