MACRO ECONOMIC NEWS

GRATEFUL FOR ALL THE WONDERFUL THINGS WE HAVE AND FOR THOSE THAT YET TO COME

Macro Economic News 06 Apr 2018

Trump calls for additional trade tariffs against China, while India’s central bank explores the possibility of creating its own digital currency. India’s central bank is exploring the creation of a digital currency even as it escalates a crackdown on existing instruments such as bitcoin. However, it also said it is banning banks and other regulated entities from providing services to users, holders and traders of cryptocurrencies.

FINANCIAL TIMES

[I]  Trump threatens $100bn in additional Chinese tariffs

[I]  Dimon warns investors on risk of ‘drastic action’ by Federal Reserve

[I]  Shipping groups boost Ireland-EU routes ahead of Brexit

[I]  FCA reveals strict new rules for asset managers

[I]  Megadeal puts Brazil back on M&A bankers’ radar

[I]  The US should know that China believes in fair trade too

 

REUTERS

[I]  RBI holds rates; stocks rally on lower inflation call

[I]  RBI chief still wary of upside risks to inflation

[I]  RBI says to keep liquidity in "moderate surplus mode" in April-September

[I]  RBI defers new accounting rules for banks cheering investors

[I]  Japan household spending posts biggest drop in nearly a year as wages fall

[I]  Trade war or not, weak dollar trades here to stay: Reuters Poll

[I]  ECB, BoE unlikely to go off-piste after snow-induced slowdown

[I]  Pakistan declares tax amnesty to broaden income revenue base

 

BLOOMBERG 

[I]  U.K. Retailers Post Worst Sales Slump Since Financial Crisis

[I]  China Vows to Defend Its Interests as Trump Eyes $100 Billion Tariff Proposal

[I]  Trump Escalates Trade Tensions With Call for New China Tariffs

[I]  After Targeting U.S. Farmers, China Signals It Can Strike Shale

[I]  What Happened in the World Economy This Week and What It Means

[I]  Asia’s Dollar Bonds Mark Worst First Quarter Since 1997

[I]  Bond Party Endures in India as Central Bank Takes a Dovish Turn

 

WALL STREET JOURNAL

[I]  The Future of America’s Economy Looks a Lot Like Elkhart, Indiana

[I]  Trade Deficit Hits Near Decade High, Raising Specter of Twin Deficits

[I]  Leverage Will Determine if China or the U.S. Come Out on Top in Trade Conflict

[I]  The unemployment rate could reach a new low, but the pace of hiring is expected to cool.

[I]  U.S. Jobless Claims Rose Last Week

[I]  Tariff Showdown Shifts to Intense Negotiation Period

[I]  Real Time Economics: U.S.-China Showdown | Jobs Day Preview | Tech Backlash

 

BUSINESS LINE

[I]  RBI holds repo rate on inflation fears

[I]  I-T Dept panel to look into evasion risks posed by ‘fleeing’ super rich

[I]  1 billion tonne coal output: Centre to relax deadline

[I]  Assets Under Management of mutual funds swell 26% to Rs. 23 lakh-crore in FY18

[I]  SEBI crackdown on F&O trades promises windfall gains to Centre

[I]  RBI pegs FY19 growth rate at 7.4%; lowers inflation forecast

 

ECONOMIC TIMES

[I]  Bank treasury to get more flexibility in managing surplus cash

[I]  Tighter reporting of remittances under LRS to prevent abuse

[I]  US says India's customs, import schemes complex

[I]  US-China trade war could hit global economic recovery

[I]  Services sector in expansion zone; hiring up: Survey

[I]  RBI lowers inflation target for first half of FY19 to 4.7-5.1 per cent

[I]  Services PMI back on growth track in March; job-creation at 7-yr high

[I]  Government set up e-commerce think tank to encourage local players

[I]  Now RBI says NPA pile preventing better policy transmission

[I]  Income tax department forms committee to look into tax risk of super-rich leaving India

[I]  RBI dumps GVA model, switches back to GDP to measure economy

[I]  Government commissions mechanism to address taxpayers' grievances

[I]  Comprehensive integrated plan on logistics on anvil: Commerce Secretary

[I]  RBI maintains status quo, keeps repo rate unchanged at 6%

 

BUSINESS STANDARD

[I]  Start-up investors may be exempt from 'angel tax'

[I]  CPI inflation expected to be at 4.3% in Q4 of FY19

[I]  Civil aviation ministry proposes steep rise in compensation for flyers

[I]  Draft Direct Tax Code to be submitted to govt, placed in public domain soon

[I]  RBI monetary policy review: Bad loans limit banks from passing on rate cuts

[I]  Social media use has troubling parallels with addictive drugs: Researchers

 

MARKETS (07:15 am)

[I]  SGX NIFTY Fut: 10323;  USDINR DGCX: 64.9700;  DJIA Mini: 24110;  FTSE 100 Fut: 7069;  NIKKEI 225 Fut: 21555;  EUR-USD: 1.2257; Crude Oil (WTI): 63.08;  Gold (Spot): 1332

Best Regards, ARBIND

06 Apr 2018