The main highlight of the day will be the U.S. Treasury's release of details of its highly anticipated Public-Private Investment Program. Markets will also await the release of U.S. existing home sales and comments from Boston Fed President Eric Rosengren.
At 8:30 a.m. EDT, Statistics Canada will release its leading economic index for February, which is expected to decline 0.9% month-over-month following a 0.8% contraction previously.
U.S. Treasury Department plans to provide $500 billion to $1.0 trillion in subsidies to entities willing to purchase toxic assets from financial institutions, financed by the U.S. Treasury, the FDIC, and the Federal Reserve. The announcement is slated for 8:45 a.m. EDT.
At 10 a.m. EDT, the U.S. National Association of Realtors will release existing home sales for February. Economists expect sales to fall to 4.45 million from 4.49 million in January, a 0.9% month-over-month contraction compared to the previous 5.3% decline seen.
Also at 10 a.m. EDT, Boston Fed President Eric Rosengren (non-voter) will testify before the House Financial Services Committee.
8:30 CA Leading Indicators (M/M) February Exp: -0.9% Prior: -0.8%
10:00 US Existing Home Sales February Exp: +4.45M Prior: +4.49M
10:00 US Existing Home Sales (M/M) February Exp: -0.9% Prior: -5.3%
10:00 US Fed's Rosengren Testifies on Accessing Credit at House Panel
13:00 US Treasury to Sell $31B 3-Month Bills
13:00 US Treasury to Sell $29B 6-Month Bills
By Erik Kevin Franco, firstname.lastname@example.org, edited by Stephen Huebl, email@example.com