We will see preliminary 1st quarter GDP estimates for both the UK and USA this week. On Tuesday, the UK GDP release is expected to show that economic growth got off to a good start similar to that seen in Europe. A sharp deviation from market estimates of a 2.6% annualised growth rate will no doubt become a hot topic so close to the election. We expect the US GDP data to show weakness in the 1st quarter as a result of the bad weather which hampered economic activity. Further insight into what exactly is happening may be gleaned from the Federal Reserve statement which comes out on the same day, Thursday. The FTSE 100 opened the week above 7,100 with markets more focused on company news and bond markets reflecting a shift in expectations for a Greek deal shifting further out to mid-May.