On tap for Tuesday: April NY Fed....>

US DATA PREVIEW: On tap for Tuesday: April NY Fed Business Leaders Index;

Redbook retail sales; March industrial production and capacity utilization; NAHB

home builder index for April.

- Barclays economists estimate "overall IP will edge up 0.1% m/m in March after

having registered no material change in February. The topline reading is mainly

driven by developments in the manufacturing sector, where we expect production

to inch up 0.1% following February's 0.3% decline."

- Citing subsiding weather factors, Bank of America economists estimate IP to

"increase by a solid 0.3% mom in March after two fairly soft prints in January

and February. This should translate into a 0.1pp increase in the capacity

utilization rate to 79.2%."

- Morgan Stanley economists, on the other hand, "do not expect much improvement

in this category in March, given the drop in manufacturing hours worked, a key

proxy for manufacturing production, in the March employment report."