Market Movers The UK general election will be held today and polls continue to suggest a hung parliament. Although the election outcome is far from certain, it seems likely that Labour and the Scottish National Party (SNP) will win enough seats to have a majority. If so, we expect Labour to form a minority government as it refuses any deals with the SNP which, however, is expected not to vote a Labour government down in a 'no confidence' vote. We still see risks of higher political instability in the new parliamentary term. The result should be known early Friday morning. Note we will host a conference call on Friday morning to discuss the outlook, see Conference Call: General election - UK at a crossroads .
German factory orders are released this morning and we look for a rebound after they declined in both January and February. The weakness in the first months of 2015 was mainly due to declining foreign orders and in March we expect domestic consumers to have supported factory orders.
In the US initial jobless claims are expected to increase a bit after they dropped to a new cycle low last week.
Focus in Scandi markets will be on the Norges Bank meeting where we expect rates to be kept unchanged.
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