MACRO ECONOMIC NEWS

WISHING AN IMPRESSIVE DAY. WITNESS WORLD IS IMPRESSED BY PURE HEART.

Macro Economic News 12 Apr 2018

FOMC Minutes showed most officials leaning toward a faster pace of hikes as a trade war poses risks. Korea kept interest rate steady while Japan said it will continue massive stimulus. IMF chief is optimistic on outlook for global growth and warned China to Avoid Waste in Giant Infrastructure Plan. Geopolitical tension along with Oil is at the stock market play. Russia vows to shoot down any and all missiles fired at Syria, while Trump tweeted, “Get ready Russia, because they will be coming, nice and new and ‘smart,’”.

FINANCIAL TIMES

[I]  EU raids media groups in sports rights antitrust probe

[I]  Volatility looks set to stay with many big swings in 2018

[I]  Donald Trump warns Russia to prepare for US strike against Syria

[I]  US draws up options for attack on Syria

[I]  Britain poised to support military strike on Syria

[I]  Merkel plays down squabbling in her fractious grand coalition

[I]  University crackdown raises fears for Turkish academic freedom

[I]  IMF chief warns trade war could rip apart global economy

[I]  Fed minutes discuss possibility of steeper rate rises

 

REUTERS

[I]  Won't let another glut form: Saudi Arabia

[I]  Iran minister says $60 good price for crude oil

[I]  U.S. bank regulators propose easing capital curb on leverage

[I]  Chinese ambassador warns U.S. not to drag Latam into trade dispute

[I]  Bank of Korea keeps interest rates steady on muted inflation, trade uncertainty

[I]  China central bank governor says first quarter economic data a little better than expected

[I]  IMF Lagarde says signs of progress in China's Belt and Road projects

[I]  BOJ's Kuroda keeps pledge to maintain massive stimulus

[I]  Russia says tracking U.S. naval movements

[I]  CPI inflation likely slowed further in March, but still above target

[I]  IMF chief optimistic on outlook for global growth

 

BLOOMBERG 

[I]  Lagarde Warns China to Avoid Waste in Giant Infrastructure Plan

[I]  Bank of Korea Holds Interest Rate as Inflation Trails Target

[I]  Coalition of Industry Groups to Fight Trump Tariffs Is Growing

[I]  China's Relationship With Australia Remains Tense, Turnbull Says

[I]  Modi Puts Inflation Goals at Risk in Bid to Meet Farm Pledges

[I]  Satellites Are Great, But They Don't Beat U.S. Crop Forecasters

[I]  Hong Kong Dollar Touches Key Level for First Time Since 2005

[I]  China's $26 Trillion State-Asset Watchdog Says More M&As to Come

[I]  Europe's Digital Tax Is a Bad Idea

[I]  India May Soon Be a Growth Engine for Oaktree Capital

[I]  China's New Crackdown on Regional Debt May Curb Bond Sales

 

WALL STREET JOURNAL

[I]  Fed Minutes Signal Greater Confidence in Reaching 2% Inflation

[I]  U.S. Budget Deficit Widens on Lower Revenue, Higher Spending

[I]  Trump Looks to Assuage Trade Critics With Farm Package

[I]  Trump Acknowledges Trade Spat to Hurt Farmers

[I]  China’s Tariffs Are Pinching Chinese Companies, Too

[I]  Underlying Inflation Shows Signs of Pickup

[I]  IMF Chief Christine Lagarde Warns Governments Off Protectionism

[I]  Japanese Workers Call It Quits on a Firm Tradition: The Job for Life

 

BUSINESS LINE

[I]  Pact for return of illegal migrants gets nod

[I]  Main-streaming blockchains in global trade

[I]  When nostalgia becomes a trap, and what to do about it

[I]  Digital transformation will add $154 b to India’s GDP: Microsoft study

[I]  More thunderstorms for North-West, East India

[I]  With higher output, lower prices and likely import curbs, wheat may go the pulses way

[I]  Gross direct premium of non-life insurers crosses Rs. 1.5-lakh crore

 

ECONOMIC TIMES

[I]  Supply surplus may spoil the party for aluminium

[I]  Salary hike unlikely for 30-40 per cent telecom staff, bonus may drop up to 50 per cent

[I]  FDI in tobacco: DIPP meets stakeholders; participants shared mixed views

[I]  No immediate plan to give production-linked subsidy to sugar sector: Govt

[I]  Centre wants states to pay cane farmers upfront

[I]  India to grow 7.3% this fiscal, fastest across Asia: ADB

[I]  RBI governor Urjit Patel rejects easing NPA norms

[I]  Mobile number portability rules may be revamped in two months: Trai chairman RS Sharma

[I]  Government’s social sector spending “woefully” below peers: RBI

[I]  Government mulls taking GSTN control from private entities

 

BUSINESS STANDARD

[I]  Soon, you may have to pay highway toll based on distance actually travelled

[I]  Govt asks oil retailers not to raise petrol, diesel prices: Sources

[I]  PM Modi bats for responsible energy pricing by oil producing countries

[I]  Demonetisation effect: Microfinance NPAs remain elevated in many states

[I]  60% of India's GDP to come from AI, other digital services by 2021: Study

[I]  Growing inequality can be a potential threat to economy: Manmohan Singh

[I]  What's behind surging bond yields and how it's upsetting govt's fiscal math

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 10435;  USDINR DGCX: 65.2775;  DJIA Mini: 24232;  FTSE 100 Fut: 7173;  NIKKEI 225 Fut: 21680;  EUR-USD: 1.2367; Crude Oil (WTI): 67.13;  Gold (Spot): 1350

Best Regards, ARBIND

12 Apr 2018