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Tuesday, April 28

28th Apr - UK's Q1 GDP not great

Previously on MoreLiver’s:

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If There's a Reform of EMU UK's Demands Could Be Consideredeuinside
David Cameron's pledge for reform of the EU is not realistic, said in an interview with this website Paulo Rangel (Portugal), a vice president of the EPP group in the European Parliament. According to him, the only possibility for opening of the treaties for change is to upgrade the euro area.

A profile of Europe’s populist parties: Structures, strengths, potentialDB Research

UK: First estimate of GDP growth confirms growth slowed in Q1Danske Bank

Chief Economist's Corner: About the krone and using an HP calculatorNordea

Low pay rises pressure RiksbankNordea

A detailed proposal for a complementary currency for GreeceIDEA
Tsipras presses for May debt deal, says referendum possible – Reuters
Tsipras warns of referendum if talks on bailout deal fail – FT
Half of investors expect Greece to leave euro zone within 12 months: Sentix – Reuters
Reuters poll: 40 percent chance Greece exits the euro zone – traders – Reuters
Juhani Huopainen: It's decision time on GreeceTF
Peter Spiegel: Did Greece get promised a deal on t-bills? – FT

Not enough German assets?Nordea
The available amounts of German assets under the PSPP are barely adequate, and entails buying up to the 25% limit of every single eligible bond. The ECB will likely have to take action if they want to reach their balance sheet target.

Two Observations on US Corporate EarningsMarc Chandler

Simon Johnson: The Old New Financial RiskProject Syndicate
The main financial risk facing the United States today looks very similar to what caused so much trouble in 2007-08: big banks with too much debt and too little equity capital on their balance sheets.

5 Things to Watch in the First-Quarter GDP ReportWSJ

5 Things to Watch at This Week’s Fed MeetingWSJ

Daily Central BanksWSJ
Hilsenrath’s Take: Role Reversal, As China Eases And Fed Waits At Exit Door * China Readies Fresh Easing to Tackle Specter of Debt * Fed Regulation Has Insurers on Edge * Some Investors Can’t Wait for the Fed to Raise Rates * Traders Think BOJ Won’t Act, But They’re on Guard Anyway

Daily MacroWSJ
There’s a nagging sense that markets are artificially propped up by aggressive central bank easing measures in Europe and Japan and that all that could change if the Federal Reserve starts to remove some liquidity by increasing rates. It’s unlikely the Fed will make any drastic announcements when a two-day meeting concludes Wednesday, but investors aren’t willing to take chances when prices are so high. One thing that does seem likely, however, is that whatever the Fed does, central banks elsewhere seem willing to keep funnelling money into the market

Danske Daily Danske Bank

Good news from Greece – news flow still causing volatility * USD broadly weaker ahead of the FOMC meeting * UK slowdown in warm-up for tomorrow

Daily FX CommentMarc to Market
Market Shrugs Off Poor Japanese and UK Data

Daily ShotTF
Chinese equity markets continue their vertiginous rally and valuations have now begun to outstrip many other global and emerging market averages. In our view, the surge likely represents investors betting on stimulus from the People's Bank of China.

Daily Press SummaryOpen Europe
Markets optimistic Greek government reshuffle will ease tension in negotiations * EU rules out military mission to Ukraine * Czech Finance Minister rules out country joining Euro any time soon

S&P Futures Hug 2100 After China Denies QE, European Stocks Slide

FX Update TF
The USD is on the defensive against most of the rest of the major currencies as the market is positioned for a dovish, or at least very passive, Fed. Tomorrow’s FOMC statement tells us whether the USD will find a local low this week or whether this consolidation to the weak side extends.

From the FloorTF
As the crude oil long/short ratio rips up to very high levels, more and more indicators suggest that a sell-off is on the cards. In FX, the market is focused on tomorrow's FOMC meeting as well as US Q1 GDP, while in the equities sphere we've had a decent batch of surprisingly strong interim earnings.

Martin Sandbu’s Free LunchFT
Vote tallies and seat counts: Cutting through the complexities of the UK electoral system

Venäjän keskuspankilla on koronlaskuvaraa | Ruotsin vähittäismyynnin vahva trendi jatkuu  | Iso-Britannian alkuvuoden BKT julkaistaan tänään

Sixten Korkman: Kriisi ja kolmikanta, osa 1: Miten maa makaa?HS

Pääkirjoitus: Eurosta tuli pannukakkuHS

Taakanjakoa ja numeroitaJussi Halla-aho

Henri Myllyniemi: Pelätty D-sana palasi otsikoihin: δημοψήφισμαUS