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Week Ahead March 22nd 2021
An article by • Published Mar 25, 2021

Week Ahead: March 22nd 2021

The direction of long duration U.S. treasury rates remain in focus yet another week as the 10-year U.S. Treasury rates crossed 1.7% on last Friday, March 19th. Trends in treasury yield rates suggest bond market investors continue to expect Federal Reserve will be forced to raise short term rates from steep rise in inflation post-pandemic as the U.S. economy re-opens.

Federal Reserve Chairman Jerome Powell is testifying on CARES Act before U.S. House of Representatives Financial Services Committee on Tuesday, March 23rd, and U.S. Senate Banking Committee on Wednesday, March 24th. Market participants will be closely following his comments in the testimonies especially on inflation.

IPO Watch
Recently, numerous companies have filed for an IPO and this is one of those weeks where quite a few of them are expected to go public:
thredUP, an online recycled apparel marketplace, intends to
raise $156 million at $1.4 billion market cap

SEMrush, an online marketing and analytics SaaS platform, intends to
raise $252 million at $2.2 billion market cap

Vizio, a smart TV manufacturer, intends to
raise $333 million at $4.5 billion market cap

Digital Ocean, cloud infrastructure platform, intends to
raise $751 million at $5.6 billion market cap

Diversey, a cleaning and hygiene products maker for enterprises, intends to
raise $900 million at $5.9 billion market cap

Investor Events To Watch Out For:
March 22 - Federal Reserve Chair Jerome Powell at Bank for International Settlements Innovation Summit
March 23 - Pat Gelsinger, CEO of Intel (ticker: $INTC) at Intel Unleashed: Engineering the Future
March 24 - Anjali Sud, CEO of IAC (ticker: $IAC) subsidiary Vimeo on proposed spin-off of Vimeo from IAC at Vimeo Investor Day
March 25 - Blackbaud (ticker: $BLKB) Virtual Investor Session

Key Earnings Announcements:
March 22 - Tencent Music Entertainment (ticker: $TME)
March 23 - GameStop (ticker: $GME), Adobe (ticker: $ADBE)
March 24 - Restoration Hardware (ticker: $RH), General Mills (ticker: $GIS)
March 25 - Blink Charging (ticker: $BLNK). Momo (ticker: $MOMO)
March 26 - UP Fintech (ticker: $TIGR)

Major Economic Events:
March 22 - Existing Home Sales for February 2021 from National Association of Realtors
March 25 - Initial Jobless Claims for week ending March 20th from U.S. Department of Labor (DOL)
March 26 - Personal Income and Spending for February 2021 from U.S. Bureau of Economic Analysis (BEA)