MACRO ECONOMIC NEWS

WISH THIS WEEK WE EXTEND GRATITUDE TO BEAUTIFUL LIFE

Macro Economic News 23 Apr 2018

 

A truce between the U.S. and China on trade looks possible as U.S. Treasury Secretary is considering a trip to China, being “cautiously optimistic” of reaching an agreement that bridges their differences over trade. HNA cuts stake after saying it won’t, and Asian markets look set for a mixed open. Investors will be focused on Japan this week with industrial output and jobs data due before the Bank of Japan’s policy decision at the end of the week. Economists don't expect any policy change but will look for clues about the stance of two new deputy governors.

 

FINANCIAL TIMES

[I]  EU budget revamp set to shift funds to southern states

[I]  Hiring tumbles at UK fund houses as Brexit plans kick in

[I]  Euro strength crimps growth at European companies

[I]  The eurozone economy: a nasty surprise in store?

[I]  EU to beef up legal protection for corporate whistleblowers

[I]  Iran warns US against pulling out of nuclear deal

[I]  China banks plan informal interest rate increases

[I]  UK set to force companies to reveal ratio of CEO pay to workers

[I]  Europe’s top investment banks braced for muted first quarter

 

REUTERS

[I]  India's economy could grow at 7.4 percent in 2018-19: RBI

[I]  Despite plunging approval ratings, Japan's Abe popular among businesses

[I]  Britain, South Korea in talks to protect crude oil trade

[I]  Iran central bank bans cryptocurrency dealings

[I]  Merkel stresses importance of free trade ahead of visit to U.S.

[I]  German defence ministry wants to spend billions on armaments this year: report

[I]  Iran, Israel play down prospects they'll go to war over Syria

[I]  Interview: Europe not choosing sides in U.S.-China trade dispute

[I]  Global Economy: Is it just a cold, or something more serious?

[I]  A U.S. recession ahead? Fed policymakers say not to worry

 

BLOOMBERG 

[I]  Stars Group Builds Sports-Betting Muscle with $4.7 Billion Deal

[I]  Lira's Fate Tops Bill in Week of Emerging-Market Rate Decisions

[I]  Mexico Central Bank Head Sees No Need of Extra Peso Intervention

[I]  Pakistan Central Bank Chief Says He Doesn't See Need to Devalue

[I]  U.S. Hints at China Truce as World Warns of Trade-War Threat

[I]  Trump Tempers His Optimism on North Korea: ‘Only Time Will Tell’

[I]  Central Banks Fret Trade War More Deflationary Than Inflationary

[I]  Greece’s Creditors Close to Compromising on Debt

[I]  Brazil Cheers IMF's Revised Forecast

[I]  U.S. Grain Ships Change Direction Mid-Voyage After China Tariffs

[I]  IMF Says Bank of Japan Should Stick to Path on Inflation Target

 

WALL STREET JOURNAL

[I]  Steel Tariffs Likely to Lead to U.S. Job Losses, Fed Economists Find

[I]  A Trump Win on China Tariffs Could Aid Auto Plants in U.S. —Just Not American Ones

[I]  White House Backs Funding Increase for World Bank

[I]  OPEC, Russia Back Continued Oil Cuts, Drawing Trump Ire

[I]  Manufacturers Fear Uneven Penalties From China Tariffs

[I]  Top ECB Officials Give Different Takes on the Economy

[I]  Don’t Rule Out an EU-U.S. Trade War

[I]  Since 1880, Global Government Debts Have Rarely Been So High

 

BUSINESS LINE

[I]  IBC process: What happens to foreign assets?

[I]  Why MSP at cost plus 50% is no big deal

[I]  Fugitive Economic Offenders Ordinance seeks to plug loopholes in existing laws

[I]  Gas trading hub: A challenge, but doable

[I]  Catching the recruiter’s eye from remote places

[I]  Bengal posts revenue surplus in GST mop-up

 

ECONOMIC TIMES

[I]  50 cr Indians to get social security cover in 10 years, over 3 phases

[I]  FPI outflows in April at Rs 8,000 crore on trade negotiations

[I]  Central banks fret trade war more deflationary than inflationary

[I]  What I read this week: Bank deposit growth in India slowest in 54 years

[I]  Down in Saudi amnesia, they're partying like it's 2008

[I]  Bond traders' respite from flattening curve may prove fleeting

[I]  From bats and blankets to ACs, how the machhar economy is growing in India

[I]  Indian elephant ready to run after economic reforms: IMF official

[I]  Social Security plan gets PMO nod, rollout likely in 3 phases

 

BUSINESS STANDARD

[I]  Metal headache: Commodity rally will put pressure on operating margins

[I]  Oil companies offer subsidy to dealers to install solar rooftop systems

[I]  India's march against corruption stumbles on flawed law execution

[I]  India's GDP expected to reach $5 trn by 2025: Economic Affairs secretary

[I]  Rail Ministry entity to raise Rs 40 billion for station redevelopment

[I]  IBC proceedings: 78 liquidation orders, a handful of resolutions

[I]  From 2016 to 2018, life of a Rs 2,000 note; all you need to know

[I]  I-T dept warning to salaried taxpayers: Hoodwinking the taxman is difficult

[I]  India tops emerging markets in foreign portfolio investor flows in 2018

[I]  Income dynamics changing as elderly emerge as prominent consumer group

[I]  Central banks fret US-China trade war more deflationary than inflationary

 

MARKETS (08:45 am)

[I]  SGX NIFTY Fut: 10546;  USDINR DGCX: 66.2000;  DJIA Mini: 24491;  FTSE 100 Fut: 7322;  NIKKEI 225 Fut: 22085;  EUR-USD: 1.2274; Crude Oil (WTI): 68.27;  Gold (Spot): 1334

Best Regards, ARBIND

23 Apr 2018