MACRO ECONOMIC NEWS

GRATITUDE TO KIDS TEACHING US TO STAND WITH PATIENCE AND CONTENTMENT

Macro Economic News 25 Apr 2018

 

U.S. stocks tumble amid a rout in industrial and technology shares. Ten-year Treasury yields breach 3% for the first time since 2014. Trump praises North Korean leader Kim Jong Un in a dramatic shift in rhetoric. China cracks down on debt on the back of a boom in property prices, household borrowing has been climbing for ten straight years, at a pace that rivals any such run-up in major economies. At $6.7 trillion, and a record 50 percent of gross domestic product, China’s private debt is now approaching developed-world levels and crimping the power of the consumer to spend. Much of households’ surging debt is linked to China’s housing bubble, which has seen new home prices in Beijing and Shanghai jump more than 25 percent over the last two years.

 

FINANCIAL TIMES

[I]  UK explores producing own satellite system after EU’s Galileo snub

[I]  Trump blasts Iran as Macron lobbies for nuclear deal

[I]  Saudi Arabia raises the alarm over rising unemployment

[I]  Chinese banks under pressure from Beijing to boost capital

[I]  Investment banks’ China expansion plans under pressure

[I]  Global music industry grew 8% last year jazzed by streaming subscriptions

[I]  China’s car concession not enough to halt a US trade war

 

REUTERS

[I]  Dollar edges up as U.S. yields poke above 3 percent to four-year highs

[I]  South Korea, U.S. expected to hold summit in mid-May: S.Korean official

[I]  China warns of more action after military drills near Taiwan

[I]  China may unveil new asset management rules this week: China Daily

[I]  One in five financial institutions consider cryptocurrency trading

[I]  U.S.-China trade fight reaches top American court in antitrust case

[I]  Trump says NAFTA talks going 'nicely,' Canada sees progress on auto rules

[I]  U.S. consumer confidence, housing data highlight economy's strength

 

BLOOMBERG 

[I]  The $80 Billion Debt Manager Finding Gems in Egypt and Ukraine

[I]  French Regulators Make Waves With High-Profile Corruption Probes

[I]  China Lifts Quota for Outbound Investment Trials to $10 Billion an hour ago

[I]  New Dreamers May Be Coming as Trump Loses Another DACA Fight

[I]  Blockchain Is About to Revolutionize the Shipping Industry

[I]  The $7 Trillion Debt Pile Looming Large Over Chinese Households

[I]  French Regulators Make Waves With High-Profile Corruption Probes

[I]  Indian States' Ballooning Debt Bad News for Battered Bond Market

[I]  Bankruptcies Are Booming in India, But Where Are the Judges?

[I]  Privacy Concerns Aren’t a Worry for Investors in China Tech

[I]  Japan Carmakers Start China Electric Push With Tried and Trusted

[I]  Banks Imperil Surge in World's Top-Performing Credit-Card Stock

 

WALL STREET JOURNAL

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

[I]  Home Prices Continued to Rise in February

[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

[I]  Tax Changes Mean Mortgage-Interest Deduction Finds Fewer Takers

[I]  How China and the U.S. Both Come Out Winners in Boost to World Bank

[I]  Japan’s Central Bank Has Hopeful Forecast for Effect of Sales-Tax Increase

[I]  Real Time Economics: Inflation, the Economy and Treasury Yields | Mr. Macron Goes to Washington | $25K Bonuses on the Railroad

 

BUSINESS LINE

[I]  Trump govt may bar spouses of H-1B visa holders from working

[I]  Task force to prepare e-comm policy framework in six months

[I]  Proposed changes in IBC may allow withdrawal of insolvency application

[I]  Solar cell imports: EU, Japan question safeguard duties recommended by India

[I]  Wheat buying tops 20.5 million tonnes on higher arrivals in UP, Haryana

[I]  Cane crisis: Sops not enough, viable pricing model needed, says industry

[I]  Farm credit: Lack of disaggregated data hampers targeted delivery, says official

 

ECONOMIC TIMES

[I]  Banks call govt's Rs 40,000 crore tax demand frivolous, want it taken back

[I]  Donald Trump's ongoing tussle with China could put India in a tight trade spot

[I]  India likely to skip SAARC summit again: Sources

[I]  US 10-year yield hits 3% ahead of $32 billion 2-year auction

[I]  Govt meets Rs 10 lakh cr credit disbursal target for FY18

[I]  India may face pressure to cut duties on 90% of goods traded with China

[I]  US companies showing interest for investment in India's UP: Biz advocacy group

[I]  Trump trade war spurs India to import more oil, drones from US

[I]  India signs USD 210 mn loan pact with World Bank for MP roads

[I]  Draft rules framed on Capital Gains Tax where STT not paid

 

BUSINESS STANDARD

[I]  E-commerce policy in six months; to tackle data privacy and tax issues

[I]  It'll rain malls in India this year: 7.8 mn sq ft space under construction

[I]  Govt plans to use artificial intelligence to weed out shell firms

[I]  RTI Act under siege, may slow down India's fight against corruption

[I]  Centre, states to discuss minimum support price procurement models

[I]  Protectionism in all its forms should be rejected, says Sushma Swaraj

[I]  LTCG tax: No STT likely on employee stock options plans, inherited shares

[I]  Bankruptcy cases: Resolution professionals under attack from bidders, NCLT

[I]  Finance ministry to shift to cash basis accounting for GST this fiscal

 

MARKETS (09:10 am)

[I]  SGX NIFTY Fut: 10585;  USDINR DGCX: 66.5725;  DJIA Mini: 23973;  FTSE 100 Fut: 7312;  NIKKEI 225 Fut: 22144;  EUR-USD: 1.2227; Crude Oil (WTI): 67.73;  Gold (Spot): 1328

Best Regards, ARBIND

25 Apr 2018