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Daily Insights 

April 28, 2015

Negative surprise to UK GDP hurts FTSE 100

  • The main news this morning has been the downside surprise in UK GDP growth. Q1 growth came in at 0.3% q/q (2.4% y/y) vs. cf 0.5% q/q (2.6% y/y). The GDP release adds to pre-election uncertainty and has pushed down the FTSE 100 and gilt yields. GBP dropped vs. EUR, but is stable vs. USD. Markets are generally calm ahead of the FOMC meeting tomorrow
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