Consumer related data will be the...>

US DATA PREVIEW: Consumer related data will be the focus early in the week ahead

with Jan Retail Sales today and Feb CPI Tuesday. Dearth of Fed speakers ahead

after media blackout kicked off early Sat (through the March 19-20 FOMC). That

said, Fed Chair Powell's appeared on 60 Minutes Sunday night w/former Fed

Chairmen Ben Bernanke and Janet Yellen. Powell: patient as downside risks

increased, outlook still healthy but slower than 2018, looking to improve

guidance.

- Deutsche Bank economists suspect the week's data will "do little to sway the

FOMC members from their intentions to remain on pause over the near-term, the

data could influence policymakers' forecasts for growth and inflation, which

will be updated at next week's meeting."

- On tap for Monday: Jan retail sales; Dec business inventories; Feb ETI; Mar NY

Fed expectations survey. On retail sales, Deutsche Bank said "though nearly 5%

decline in unit motor vehicle sales from Dec to Jan will likely weigh on

headline sales (+0.2% vs. -1.2%)," they see "modest payback in sales excluding

automobiles (+0.6% vs. -1.8%) given the severity of the Dec drop."