The Clock Is Ticking: Full Week Ahead Preview

Last week, we witnessed the Goldilocks narrative in real-time. We got a CPI miss in the U.S. and a tepid inflation forecast from Draghi (underscoring the notion that central banks will not get too aggressive on normalization), an upbeat outlook on growth from the ECB and the Fed along with the hottest German manufacturing PMI print on record (underscoring the idea that inflation aside, the global economy is on sound footing), and we got a well-telegraphed hike from the Fed that was interpreted a