MACRO ECONOMIC NEWS

WISHING AN EASY LIFE HAVING UNCONDITIONAL LOVE AND PATIENCE

Macro Economic News 18 Apr 2018

 

Markets brush off lingering trade concerns, focusing instead on strong earnings to propel stocks higher amidst the U.S. and North Korea direct talk prospects. IMF predicted the world economy’s strongest upswing since 2011 will continue for the next two years, but warned the seeds of its demise may have already been planted. The fund left its forecasts for global growth this year and next at the 3.9 percent it estimated in January and raised its outlook for the U.S. as Republican tax cuts take effect. Beyond that horizon, global growth will fade as central banks tighten monetary policy, the U.S. fiscal stimulus subsides, and China’s gradual slowdown continues.

 

FINANCIAL TIMES

[I]  China makes trade concession to US by opening car industry to foreigners

[I]  Japan scandals mark decline of once-mighty bureaucracy

[I]  Rising fuel costs erode benefits of Trump tax cut

[I]  China first-quarter GDP grows 6.8% on private investment rebound

[I]  Surging China steel output defies Trump pressure

[I]  Donald Trump reversal on sanctions boosts Russia shares

[I]  EU to tighten rules on money laundering after Latvia scandal

[I]  Indian finance minister vows quick end to cash shortage

[I]  IMF warns global economic growth will slow by 2020

 

REUTERS

[I]  India calms cash crunch worries, will ensure adequate currency supply

[I]  Japan March exports disappoint on strong yen, trade friction a risk

[I]  U.S. Commerce Department finds aluminum sheet imports from China subsidized: U.S. trade group

[I]  Bank of England to raise rates in May, almost all economists say - Reuters poll

[I]  China seeks trade firewall with U.S. allies in rush of meetings

[I]  India seeks compensation for U.S. steel and aluminium tariffs at WTO

[I]  Trade spat to dull expected tax cut boost to U.S. economy - Reuters poll

[I]  China central bank announces surprise cut in bank reserve requirements

 

BLOOMBERG 

[I]  Japan Exports Surprisingly Weak on Stronger Yen, Trade War Fears

[I]  Brexit Is Causing Ripples in Iceland

[I]  Old Wall Street Strategies Are Now Hugely Profitable in China

[I]  Hong Kong Has Now Plowed $3.6 Billion Into Defending Its Currency

[I]  Bonuses Could Make a Comeback for Irish Bankers

[I]  China Replaces U.S. as Top Export Market in Another Asian Nation

[I]  U.S. Earns More in China Than Trade Numbers Reveal

[I]  IMF Says World Growth Is Poised to Slow

[I]  IMF's Rosy Outlook Contains a Caveat for Investors

[I]  China Takes Carrot-and-Stick Approach to U.S. Trade Tensions

[I]  Inflation Gains Footing in Japan

[I]  India May Become Surprise Victim of Trade War, Rabobank Says

 

WALL STREET JOURNAL

[I]  Officials Optimistic on World Growth, Despite Trade Tensions

[I]  IMF Forecasts Global Growth of 3.9% This Year

[I]  Industrial Capacity Utilization Hits Three-Year High

[I]  Housing Starts Edge Higher as Apartment Construction Surges

[I]  China Central Bank Takes Pre-Emptive Move Against Ebbing Growth

[I]  China to Ease Rules on Foreign Auto Makers

[I]  Facing Historic Labor Shortages, Companies Snap Up Teenagers

[I]  Real Time Economics: Trade Tensions Escalate (Again) | China’s Economy Advances | Employers Turn to Teens

 

BUSINESS LINE

[I]  Customers feel the pinch in some States

[I]  Garments exporters seek sops to tide through liquidity crunch

[I]  India, US set up task force on natural gas

[I]  Govt must support pulses & oilseeds, too, not just rice and wheat: Crisil

[I]  Rainy season ends in Australia, clearing the air for good monsoon in India

[I]  Do you have to pay capital gains tax on Sovereign Gold Bonds?

 

ECONOMIC TIMES

[I]  Hedge funds cut bullish bets on US crude oil

[I]  Currency shortage spreads to more states

[I]  Cash crunch artificial, more money in circulation than before DeMo: Rajnish Kumar, SBI

[I]  India to make South Asia the fastest growing

[I]  'Land acquisition cost for new Delhi-Mumbai expressway to be lower by Rs 20k crore'

[I]  Varanasi highway set to miss may deadline

[I]  Simplified GST returns form in the works

[I]  FinMin clarifies on return filing by businesses opting for composition scheme

[I]  Six states to generate intra-state e-way bills from April 20: Sushil Modi

[I]  Here comes India's moment to take full control of its own destiny. Will it show the will?

[I]  View: Times are changing and ideas for economic growth need to keep up

 

BUSINESS STANDARD

[I]  Favourable monsoon forecast may have limited impact on markets: here's why

[I]  ATMs running dry in many states: Govt, RBI step in to get cash flowing

[I]  Printing of cash to be ramped up; shortage is short-term: Sanjeev Sanyal

[I]  Provisional credit issue a hurdle to simplifying GST; Council to take call

[I]  IMF maintains India's FY19 growth at 7.4%; cautions govt on fiscal deficit

[I]  Banks are unable to meet the demand for cash, says ATM industry

[I]  Indian railways posts highest ever passenger earnings in 2017-18

[I]  A sugar-coated crisis: Cane dues to farmers touch all-time high

 

MARKETS (07:45 am)

[I]  SGX NIFTY Fut: 10600;  USDINR DGCX: 65.7625;  DJIA Mini: 24762;  FTSE 100 Fut: 7178;  NIKKEI 225 Fut: 22110;  EUR-USD: 1.2375; Crude Oil (WTI): 66.83;  Gold (Spot): 1344

Best Regards, ARBIND

18 Apr 2018