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Wednesday, May 3

3rd May - Fed sits





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


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

  FEDERAL RESERVE
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

  DATA
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


REGULARS
Morning Report APAC – TF
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.

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

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

Danske Daily – Danske Bank

Eye-Opener – Nordea
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 Comment – Marc Chandler
Corporate Cash, Taxes and US Treasury Yields

Brussels Playbook – Politico

Five Things You Need to Know to Start Your Day – BB

10 things you need to know before the opening bell – BI

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

Frontrunning – ZH


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