What to Watch in the Day Ahead - Wednesday, March 18

martes 17 de marzo de 2015 14:30 GYT
 

(The Day Ahead is an email and PDF publication that includes the day's major stories and
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The U.S. Federal Reserve's Federal Open Market Committee announces its decision on interest
rates (1400/1800). Federal Reserve Chair Janet Yellen holds a news conference. (1430/1830) Most
economists expect the Fed to remove a pledge to be "patient" about raising interest rates from
its statement, giving it flexibility over when to kick off its first rate hike since 2006.
    
Package delivery company FedEx Corp is expected to post a higher third-quarter profit, helped by
lower fuel prices. Investors will be looking for an update on the company's 2016 forecast and
for comments on whether lower fuel prices can cause a greater year-over-year reduction in fuel
surcharge revenue over the next few quarters.
    
General Mills Inc, the maker of Bisquick and Betty Crocker cake mixes, reports fourth-quarter
results. The company is cutting 700 to 800 jobs, improving supply chain efficiency and shaving
advertising costs to save more than $400 million in fiscal 2015. 
    
The Mortgage Bankers Association is scheduled to release its seasonally adjusted index of
mortgage application activity for the week. Applications for U.S. home mortgages fell 1.3
percent in the prior week. (0700/1100)
    
Goldman Sachs' Business Development Company Inc's initial public offering is expected to raise
about $126 million, valuing the specialty lender at $743 million. The company, which was formed
by Goldman Sachs in 2012, had originated more than $1.27 billion in debt and equity investments.
The lender's net investment income has more than tripled to $52.7 million for the year ended
Dec. 31, 2014. As traditional lenders face tighter lending guidelines from regulators, BDCs have
seen a surge in demand. Private equity firm TPG Capital LP took its BDC TPG Specialty Lending
public last year.
    
Statistics Canada is scheduled to release wholesale trade data for January. Wholesale trade is
expected to have fallen 0.8 percent compared with December's 2.5 percent rise. (0830/1230)
    
Chile's central bank is scheduled to release Gross Domestic Product figures for the fourth
quarter. The Chilean economy is expected to have grown 0.9 percent quarter-on-quarter on a
seasonally adjusted basis and 1.90 percent year-on-year. (0830/1230)
    
Bank of England to publish minutes of its March monetary policy meeting. (0430/0830)

 (Compiled By Astha Rawat in Bengaluru; Editing by Simon Jennings)