The Milken Institute Global Conference officially kicked off Sunday in Los Angeles. Every year this is one of the premier events for thought leaders in our industry, and this year is no different. Today began with a panel that gave a wide-ranging look on global markets that included our Executive Chairman and President Terry Duffy, PIMCO CEO Mohamed El-Erian and Citadel Founder and CEO Ken Griffin. Among the important questions they took on: Will central banks modify their activist stance? Where are costs rising or falling, and will that change the direction of capital flows? And how long can inflation stay tame?
There was some great discussion, and that will continue throughout the week. You can follow the latest coverage live through Milken's #2013GC on Twitter, or through the conference blog. Meanwhile, it looks to be another big week of economic news highlighted by jobless claims on Thursday:
The Economic Week
Monday, April 29, 3:00 PM CT – US Crop Progress
Tuesday, April 30, 5:00 AM ET –EMU Unemployment Rate
Tuesday, April 30, 10:00 AM ET –State Street Investor Confidence Index
Wednesday, May 1, 2:00 PM ET – US FOMC Meeting Announcement
Thursday, May 2, 8:30 AM ET – US Jobless Claims
See the full economic release calendar here.
Links:
The EIA expects U.S. liquid fuels consumption to rise (Oil and Gas Journal)
Is it another spring swoon for the U.S. Economy? (The Economist)
The prices of gold, cupcakes and chicken wings have taken dives. (Wall Street Journal)
Futures exchanges continue to connect globally. (Markets Media)
A debate over EU development highlighted the Economist Bellwether conference in London (The Economist)
The New York Times takes a look at Janet Yellen, possible Fed successor. (New York Times)
The Bank of Japan is seeing a pickup in the economy. (The Telegraph)
5 things the U.S. Fed would rather not talk about (MarketWatch)
The latest look at the Fed's balance sheet (Federal Reserve)
Farmers and agronomists discuss the impact of planting delays (AgriNews)
Richard Branson, last year's Global Financial Leadership Conference keynote, launched a successful test flight today through Virgin Galactic (Wall Street Journal)
This summer is expected to be cooler than the last three (WeatherWise Blog)
Tweets of the Week:
2013 is the first time in 17 years that there hasn’t been even a 5% retrace by May
— ukarlewitz (@ukarlewitz) April 26, 2013
Duffy: We need to get the Fed out of market and get people refocused on corporate earnings #2013GC #Investing #USA #Fed #Market
— MI GC Finance (@MIGCFin) April 29, 2013
Striking that French unemployment hit record 3.2 million vs UK never hit 3 million+employment back to pre-recession level despite weaker GDP
— Linda Yueh (@lindayueh) April 25, 2013
Gold having major bounces is not surprising. After it topped 1923 in Sept ’11, it retraced all the way back to 1800 by Early Nov. $GLD $GC_F
— Jerry Khachoyan(@TheArmoTrader) April 26, 2013
Hands down, QE is the best human invention since the iPhone. It causes inflation in financial assets and deflation everywhere else 
— ivanhoff (@ivanhoff) April 26, 2013
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