MACRO ECONOMIC NEWS

GRATITUDE TO DIVINE PRESENCE OF LOVING AND CHEERFUL NATURE

Macro Economic News 26 Apr 2018

 

China is making good on President Xi Jinping’s promise to open the nation’s financial markets, while the dollar and Treasury yields continued their ascent. China granted additional quota for funds to invest in securities overseas for the first time in three years, easing capital curbs and further opening its $40 trillion financial sector. The Treasuries selloff continued Wednesday as 10-year notes failed to find buyers even above the pivotal 3 percent level. South Korean first quarter GDP, Australian import and export prices, Singapore industrial output and Hong Kong trade are among the economic data highlights before the main event gets underway in Europe with the ECB policy decision.

 

FINANCIAL TIMES

[I]  House prices boom in disputed West Bank settlements

[I]  North Korea summits fuel China fears over its Pyongyang influence

[I]  North Korea elite drop western websites to avoid online scrutiny

[I]  EU plans budget buffer to deal with future economic shocks

[I]  EU targets tech giants over unfair business practices

[I]  Trump to send team to China for trade talks

[I]  India’s Modi and China’s Xi gear up for summit

[I]  Turkey’s central bank raises rates for first time this year

 

REUTERS

[I]  Where's the money, RBI? Data shows India's old habits die hard

[I]  India shows jobs growth as more than 3 million join social security fund

[I]  China will crack down on money-laundering: central bank

[I]  South Korean economy bounces back in first quarter on exports, government spending

[I]  Global economy's hesitation unnerves markets

[I]  Global steel output rose 4 percent in March as China, U.S. produce more - worldsteel

 

BLOOMBERG 

[I]  Japan's Abe Says He's Not Thinking of Calling a Snap Election

[I]  Brexit Fuels Talk of United Ireland Even as Loyalists Hold Firm 

[I]  China Is Said to Mull Cutting Car Import Duty by About Half

[I]  Central Bankers Can’t Agree on Cryptocurrencies

[I]  Two-Year U.S. Yields at 2008 Highs Are Scarier Than a 3% 10-Year

[I]  China Anti-Graft Drive Targets Hong Kong Staff of Huarong: FT

[I]  Australia's $20 Billion Missed Opportunity Shows Revenue Problem

 

WALL STREET JOURNAL

[I]  Financial Deregulation Throws Fuel on Already-Hot Economy

[I]  U.S. New Home Sales Rose in March

[I]  U.S. Consumers More Confident in Economy

[I]  Nafta Proposal on Foreign Investments Jolts Energy Firms

[I]  Greece’s Business Prospects Brighten After Lost Decade

[I]  As ECB Contemplates Rate Move, Storm Clouds Gather

 

BUSINESS LINE

[I]  In FY18, Indian cos raised Rs. 6- lakh cr through bonds

[I]  Centre targets record foodgrain output this year

[I]  German firms eye Indian railway projects

[I]  India looking at feasibility of a preferential trade pact with Iran

[I]  FPIs ill at ease over new KYC norms

[I]  Researchers develop method to spot fake social media accounts

[I]  Mumbai city Development Plan gets the green signal, finally

[I]  Paying a high cost

 

ECONOMIC TIMES

[I]  Thousands of Indian families find their American dream in jeopardy

[I]  Employee tags for maids, drivers and cooks next on Modi govt's to-do list

[I]  India's global trade rises 16 per cent to $ 767.9 billion in 2017-18

[I]  India defends safeguard measures on solar cells opposed by EU, Japan in WTO

[I]  India, Mongolia to enhance bilateral trade, investments

[I]  EPFO, NPS data show 2.2 million formal jobs added in 6 months

[I]  Internet shutdown cost Indian economy $3 billion from 2012-17: Study

[I]  Labour Ministry revives National Policy to increase domestic helps' wages

[I]  Need for India to do well on human development index: Amitabh Kant

[I]  NITI to open applications for Atal New India Challenge tomorrow

[I]  The big paradox of doing business in India: Attractive at macro, challenging at micro

[I]  Bankruptcies are booming in India, but where are the judges?

[I]  India's ranking in press freedom falls to 138: RSF

 

BUSINESS STANDARD

[I]  Mumbai frees up 3,355 hectares of land to build 10 Bandra-Kurla complexes

[I]  As US 10-year Treasury yield hits 3%, nervousness grips Indian markets

[I]  With 1.57 bn accounts, 80% Indians save outside banks: World Bank

[I]  EPFO to inform members about contributions not deposited by firms

[I]  Pace of construction not proportionate with award of road contracts: Report

[I]  Bank credit grows 12% to Rs 85 trillion in fortnight ended April 13: RBI

 

MARKETS (10:00 am)

[I]  SGX NIFTY Fut: 10588;  USDINR DGCX: 67.1000;  DJIA Mini: 24098;  FTSE 100 Fut: 7341;  NIKKEI 225 Fut: 22335;  EUR-USD: 1.2177; Crude Oil (WTI): 68.43;  Gold (Spot): 1323

Best Regards, ARBIND

26 Apr 2018