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Wednesday, May 3

3rd May - Fed sits

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Italy's Bank Mess Shows One EU Ruleset Can't Work, Sweden Says – BB 
Macron’s economic advisors on VoxEU – voxeu

U.S. House nearing passage of bill to fund government, avoid shutdown – Reuters

Fed Keeps Rates on Hold as Slowdown in Growth Deemed Temporary – BB
Fed holds interest rates steady, downplays economic weakness – Reuters
Fed Shrugs Off Transitory Weakness, Signals More Rate Hikes Ahead – ZH
Bonds, Bullion Slip After Fed Sends June Rate Hike Odds Spiking To 94% - ZH
See Markets React to the Fed in 8 Charts – WSJ 
Fed Skips May and Looks to June – Marc Chandler
"Fed On Autopilot" To June Hike, But Dollar Bulls May Be Disappointed – ZH

ISM Non-Manufacturing Index increased to 57.5% in April – Bill McBride
Service Industries in U.S. Grow at Faster Pace Than Forecast – BB
ADP Says Companies in U.S. Boosted Payrolls 177,000 in April – BB
U.S. private hiring slows, services growth speeds up in April – Reuters

Morning Report APACTF
NZD could hit 0.70 on the back of strong dairy prices and a welcome drop in the jobless rate. Meanwhile crude prices have retreated on rising fuel inventory concerns and grain prices have lost ground.

EU negotiators have revised their initial calculations to maximise the liabilities Britain is asked to cover

Oil Susceptible to Swift Sell-off, Retailers Battle Weak Pound

Danske DailyDanske Bank

A lot in the calendar today: FOMC, Euro-area GDP, French TV debate * Brent oil testing uptrend * Likelihood of a Fed hike in June: 70%

Morning Markets TF
Cable plunged by over 50 pips overnight as a new analysis from the Financial Times pointed to a more obdurate Brexit stance from France and Germany as well as an increased €100 billion price tag.

Daily Market CommentMarc Chandler
Corporate Cash, Taxes and US Treasury Yields

Brussels PlaybookPolitico

Five Things You Need to Know to Start Your Day BB

10 things you need to know before the opening bell BI

Global Stocks Dip On Poor US Auto Sales, Apple Miss; Fed Decision On Deck

Frontrunning ZH

Fed odottaa kesäkuuhun * Britannian teollisuuden ostopäällikköindeksi ylitti kaikki odotukset * Euroalueelta julkaistaan ensimmäisen neljänneksen BKT-luvut * Luvassa Ranskan toisen kierroksen ensimmäinen televisioväittely