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Key Mkt Levels Ahead FOMC

US DATA
US DATA: April industrial production below-expected -0.5%, Cap-u 77.9%
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- April industrial production well below flat exp by Bloomberg and MNI 
due to -3.5% in utilities production after three straight gains. Ex. 
vehicles, IP would have been -0.4%. 
- Within utilities, electric -2.6% and gas -7.7%, as the Fed cited 
warmer-than-usual temperatures.
- Manufacturing IP was -0.5% and -0.3% ex. mtr veh. Mining +1.6% after 
-0.4%. 
- March IP rev up to +0.2% from -0.1% prev, but Feb rev down sharply 
to -0.5% from +0.1% prev.
- Capacity utilization -0.6pp to 77.9% vs 78.7% exp by BBG and MNI.