MACRO ECONOMIC NEWS

WISHING A REMARKABLE THURSDAY WITH KINDNESS AND EXCITEMENT ALL AROUND

Macro Economic News 22 Mar 2018

 

Fed raised the benchmark lending rate a quarter-point and forecast a steeper path of hikes in 2019 and 2020, citing an improving economic outlook and projected a total of three increases this year. Powell also mentioned about asset prices being elevated in some areas. While Trump is weighing duties of as much as $60 billion worth on Chinese goods, profits at China’s top banks are set to surge after two dismal years. A trade war between the U.S. and China would probably take a bite out of the world’s two-largest economies, but wouldn’t do enough damage to pitch either into recession. China will permit foreign companies to access its $27 trillion payments market, further opening up the world’s second-largest economy.

Monetary policy meetings are also on tap for Indonesia, the Philippines and the U.K. Angela Merkel will outline her fourth-term policy goals, while EU leaders meet in Brussels to sign off on Brexit guidelines, discuss U.S.-EU trade, and examine U.K.-Russia tensions. There are also flash PMIs for Europe and the U.S. to savor as well.

 

FINANCIAL TIMES

[I]  Fed lifts rates and flags extra rises on strong growth

[I]  Global deals surge past $1tn at fastest ever pace

[I]  US threatens new trade curbs on China over IP abuse 

[I]  US ire prompts Latvia to root out systemic banking failures

[I]  The EU’s ‘digital tax’: how US tech groups would be hit

[I]  Europe’s banks told to keep planning for full Brexit in 2019

[I]  China to create global broadcast champion

[I]  Rising energy demand fuels increase in global carbon emissions

 

REUTERS

[I]  India drops plan to raise wheat import tax

[I]  U.S. Federal Reserve lifts rates, signals tougher stance as economy strengthens

[I]  In India, digital gold sellers hope trickle will become a rush

[I]  Peru's president, ensnared in scandals, resigns on eve of impeachment vote

[I]  Trump set for China tariff announcement on Thursday, trade war fears grow

[I]  Trump supports massive U.S. funding bill as shutdown looms

[I]  EU migration boost public coffers in most of Europe: study

[I]  India warns against social media data misuse ahead of elections

[I]  China says WTO ruling shows U.S. is a 'repeat abuser' of trade remedy measures

[I]  Britain to seek EU condemnation of Russia over nerve agent attack

[I]  Britain unveils new fintech plans, including cryptocurrencies

[I]  Bank of England expected to keep path clear for May rate rise

 

BLOOMBERG 

[I]  Rising Political Violence Stalks East Africa's `Island of Peace'

[I]  Peru's Wise-Man President Toppled by Graft He Had Pledged to End

[I]  Saudi Grand Tour to Include Goldman Sachs, Citigroup, JPMorgan

[I]  Fed Lifts Rates, Steepens Path Through 2020 for More Hikes

[I]  Hong Kong Raises Base Rate After Federal Reserve Increase

[I]  RBNZ Holds Cash Rate at Record Low on Weak Inflation Outlook

[I]  Powell’s Fed Debut Shows Shift Away From Theory, Models

[I]  Probability of Four or More 2018 Fed Hikes Hits New High: Chart

[I]  Australia Jobless Rate Edges Higher, Employment Misses Estimates

[I]  Indonesia’s Central Bank Has Bigger Worries Than Its Next Rates Move

 

BUSINESS LINE

[I]  Now, genetic disorders no bar for health cover

[I]  SEBI board to take up debt default disclosure

[I]  Gas price: Will Oil Ministry bite the bullet?

[I]  M&A deals in cement expected to help stabilise prices

[I]  Govt moves to shore up valuation of Dredging Corporation ahead of sale

[I]  Railways’ social service to cost around Rs. 38,000 crore this year

[I]  Cabinet clears National Health Protection Mission ‘Ayushman Bharat’

[I]  ‘Saubhagya’ connections driving power demand, says Minister

[I]  Nod for revision of double tax avoidance pact with Qatar

[I]  ‘Fintech revolution no threat to traditional financial institutions’

 

ECONOMIC TIMES

[I]  Tall promises, but zero on-ground action to end tax terrorism in India

[I]  US Fed raises rates, steepens path of hikes as economic outlook strengthens

[I]  Forces got Rs 1.21L cr less than what they wanted

[I]  Wheat output likely to hit 100 million tonnes this year

[I]  Finance ministry official says primary dealers want more shorter duration bonds

[I]  Indian firms most concerned about rising protectionism: Report

[I]  Centre announces scheme for Northeast India industrialisation

[I]  Environment ministry eases rules for construction companies

[I]  DoT extends Aadhaar-based re-verification deadline indefinitely

[I]  No proposal to increase retirement age of employees: Government

[I]  Law update in the works to clarify illegal mining

 

BUSINESS STANDARD

[I]  Capacity utilisation up in select sectors; may lead to investment revival

[I]  Sebi may impose trading curbs on cos undergoing insolvency proceedings

[I]  10 years of automobile: Manufacturers find growth gears amidst challenges

[I]  Extending fixed term employment to all sectors to boost job creation: Ficci

[I]  Aadhaar data kept behind 13-ft thick walls: Attorney General to SC

[I]  Instead of shying away, WTO must rally support for multilateralism

[I]  Dealers suggest govt to issue more floating rate bonds of above 15 years

[I]  Sebi tweaks risk management norms for commodity derivatives segment

 

MARKETS (07:15 am) 

[I]  SGX NIFTY Fut: 10236;  USDINR DGCX: 65.1350;  DJIA Mini: 24773;  FTSE 100 Fut:  6949;  NIKKEI 225 Fut: 21545;  EUR-USD: 1.2367; Crude Oil (WTI): 65.31;  Gold (Spot): 1332

Best Regards, ARBIND

22 Mar 2018