MON - JAN 15

• Markets in the US will be closed for Dr. Martin Luther King Day
• The World Economic Forum Annual Meeting will be held in Davos.
• In the US, the Iowa Caucus will be taking place and the results are expected on Tuesday

TUE - JAN 16

• Chinese Premier Li Qiang & Ukrainian President Zelensky to give special address in
• Earnings: Morgan Stanley (MS) and Goldman Sachs (GS).

WED - JAN 17

• China will also be reporting GDP, industrial production and retail sales figures. Eurozone CPI will be reported.
• ECB President Lagarde will be speaking.
• US mortgage applications, retail sales, industrial production and housing data will be released.

THU -  JAN 18

• Earnings: TSMC.
• ECB President Lagarde and Sam Altmann will be speaking at the Davos Forum.
• US housing starts and initial jobless claims will be reporting.

FRI - JAN 19

• Japan is expected to report a drop in inflation.
• In the US, Michigan sentiment data will be released.
• The US Congress will be required to pass a spending agreement to prevent a Fed govt shutdown.

(source:Bloomberg)

MARKET RISKS

Geopolitics inflationary…transit volumes through Red Sea/Suez Canal down 3545% past 4 weeks;

Red Sea 12% world trade, 30% container traffic

Global freight rates up 120% past 6 weeks.

(source:Bloomberg)

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