Morning MoneyBeat Europe: Will The Fed Keep a June Rate Increase on The Table?

        By David Cottle
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        Good Morning Europe
        Stocks are called slightly higher from the bell Wednesday as investors look with hope towards the Federal Reserve's monetary policy decision, due as ever after the market close.
        A run of less impressive U.S. economic numbers, notably from the labor market and consumer confidence spheres, has investors suspicious that a June rate rise -once seen as pretty likely- may be off the table. If this afternoon's first look at U.S. GDP data for this year's first quarter show any more weakness than expected, hopes will be high that the Fed will indeed hold off.
        The dollar has already weakened a little on the strength of this theory, although of course the dollar's loss is the euro's gain, probably to the chartin of the eurozone's exporters.
        Barring Greek news European markets will probably settle into a holding pattern until we've heard from Janet Yellen and Co.
        Market Snapshot: U.S. markets (Tuesday close) DJIA up 0.4%, Nasdaq down 0.1%, S&P 500 up 0.3%. Nikkei closed for holiday Wednesday. Brent crude down ten cents at $64.54. Gold down $3.50 at $1210.40. EUR/USD at $1.0962, USD/JPY at Yen118.86. 10 year Treasury yield 2%, Bund 0.16%, Gilt 1.72%.
        Watch For: The Federal Reserve's policy decision will naturally take center stage, but, before it we'll get a look at the U.S.' first quarter GDP performance. German consumer price numbers are also due.
        What You May Have Missed on MoneyBeat:
        Another Apple Bond Sale? Some Investors Say Yes: Some bond investors see another debt sale coming from Apple Inc. Nothing is definite, but consider this: Apple completed large bond sales around this time in each of the last two years.
        Hedge Funds Lead Shift In Dollar Sentiment: Up until a few weeks ago positioning for a further climb of the dollar against the euro and the yen was the only game in town, but investors and traders' are scaling back on the trade.
        What's the Big Deal About Rule 15c3-3? -- The Short Answer: The U.S. Securities and Exchange Commission is investigating whether complex trades carried out by Bank of America Corp.'s New York-based brokerage unit improperly put retail and institutional clients' assets at risk. Central to the SEC inquiry is something known as rule 15c3-3. But what exactly is it?
        5 Things to Know About BP's First-Quarter Earnings: BP PLC reported sharply lower profits on Tuesday as the oil industry wrestles with the lowest prices for crude in six years. The company's profits were down almost 40%, to $2.1 billion, and its cash flow fell by more than 75%, to $1.9 billion. Here are five things you need to know about BP's latest financial results.
        Are Weak U.S. Earnings Good For Europe?: The U.S. corporate profits are crumbling around the edges. Is that good or bad news for Europe?
        Grosvenor Group 'Dusting Off' Contingency Plans for Property Correction: One of London's leading landlords is worried that global property markets are looking a little too hot.
        From The Wall Street Journal
        Baltic Neighbors Gird Against Russia : Coastal states are bolstering their defenses as Moscow takes a more forward military stance in, on and above the Baltic Sea.
        Russian Assets Regain Appeal After Sharp Fall : For investors seeking higher-yielding investments, Russia has become a prime destination. The ruble, stocks and sovereign bonds are all up this year after falling in 2014.
        Twitter Shares Tumble : Twitter delivered its weakest quarterly revenue growth as a public company.The company's stock tumbled nearly 20% after the results leaked out on the social-media service itself.
        (END) Dow Jones Newswires

        April 29, 2015 01:12 ET (05:12 GMT)

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