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Earnings kicks off with reports from the major banks names including Wells Fargo (WFC), Goldman Sachs (GS) and JPMorgan Chase & Co (JPM) on Wednesday. On Thursday Bank of America (BAC), BlackRock (BLK), and Citigroup (C) report. Morgan Stanley (MS) and PNC Group (PNC) report Friday.

The  Federal Reserve Bank of New York's March 2021 Survey of Consumer Expectations showed a continuation in the recent upward trend in inflation, home price, and spending growth expectations.Labor market expectations continued to recover with higher expectations about job security and improved unemployment expectations. 

The Reserve Bank of Australia's twice yearly Financial Stability Review provided no surprises. Earlier in the week the RBA held interest rates at an all time low on Tuesday to just 0.1% as widely expected. Australian banks in strong financial position coming out of pandemic banks have abundant liquidity and funding,

Inflation in China came in higher than expected levels for both the consumer and producer in March. CPI 0.4% y/y (vs. expected 0.3%) & PPI 4.4% y/y ( vs. expected 3.6%) the quickest pace of increase since 2018.

The EIA reported a less than expected build of +20 Bcf in gas storage last week following extreme cold weather which warmed up faster than many expected leaving production largely unaffected. The focus is on the reopening, LNG and Mexican exports and the summer outlook for the US.

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