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Macro Economic News 11 May 2018

 

Trump announces the date and time for his meeting with Kim Jong Un. And a tepid inflation report boosts U.S. stocks to the highest in seven weeks. Here are some of the things people in markets are talking about. An eventful week may close with a whimper with little in the way of key data expected Friday.  Second-tier reports including Aussie home loans, Singapore retail sales and Hong Kong GDP are on tap. The MSCI Asia-Pacific index is set for its biggest weekly gain in a month, while bond traders will be watching Australia 10-year yields to see just how much further below Treasuries they can go.

 

FINANCIAL TIMES

[I]  Italy’s populist parties edge closer to deal to govern

[I]  Mahathir returns weighed down by baggage and promises

[I]  US oil producers battle to meet Iran shortfall

[I]  Land of fairytale castles offers Brexit inspiration

[I]  Bank of England holds rates and plays down economic ‘soft patch’

[I]  Asian companies braced for impact of US sanctions on Iran

[I]  UK businesses suffer series of shareholder rebellions

 

REUTERS

[I]  Trump seeks 'very meaningful' summit in Singapore with North Korea

[I]  Relief for solar producers as government reneges on import duty

[I]  China plans central custody accounts for payment platforms to trim risks: state media

[I]  Trump seeks 'very meaningful' summit in Singapore with North Korea

[I]  Oil prices remain near multi-year highs on looming U.S. sanctions against Iran

[I]  Dollar steps back from 2018 peak on softer U.S. inflation

[I]  Canada's Freeland says 'getting closer' to NAFTA deal

[I]  Column: Oil price rise poses challenge for sanctions policy

[I]  U.S. consumer prices rise slightly; labor market tightening

 

BLOOMBERG 

[I]  Welcome to the New Straight-Talking Reserve Bank of New Zealand

[I]  JPMorgan Applies for China Venture Control After Dimon Visit

[I]  American Oil Exports Flip Influence in Iran Enforcement: Goldman

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

[I]  BOE Is Losing Time to Create Breathing Room Before Brexit Hits

[I]  U.K. Lawmakers Blast ‘Absurd’ Use of RPI in Student Loans

[I]  Indonesia Has a $22 Billion Buffer for Defending Its Currency, Bank of America Says

 

WALL STREET JOURNAL

[I]  Why Americans Aren’t Feeling Wage Gains

[I]  U.S. Raises Pressure on Iran With Sanctions on Currency Exchange

[I]  Economists See Fed Raising Rates in June, Then September

[I]  Economists Think the Next U.S. Recession Could Begin in 2020

[I]  U.S. Jobless Claims Stay Near Historically Low Level

[I]  Treasury: Federal Budget Surplus for April Largest on Record

[I]  U.S. Is Likely to Add About 15,000 Work Visas This Summer

[I]  BOE Bullish on U.K. Economy as It Leaves Rates Unchanged

[I]  China Draws Up Shopping List of American Goods to Avoid Trade War

 

BUSINESS LINE

[I]  Banks bat for ‘Swiss Challenge’ method in IBC resolution cases

[I]  Govt tightens norms for independent directors

[I]  Providing incentives for digital payment under GST may be tricky

[I]  Even kin of independent directors should not have financial links with firms, promoters: Govt

[I]  ‘US sanctions on Iran will not dent India’s exports’

[I]  Start-ups can allot shares to staff from Day 1, says MCA

 

ECONOMIC TIMES

[I]  Closely monitoring situation post-US pullout of Iran deal: India

[I]  Falling rupee to take FY19 trade deficit to 4-year high of 6.4%: Report

[I]  India underreported its market price support for wheat, rice: US tells WTO

[I]  ​Merchant exporters may receive Govt incentives

[I]  UP plans to raise Rs 12,000 crore for India’s longest expressway

[I]  Why India requires a bigger government, not smaller

[I]  Government may set up arbitration council via Ordinance

 

BUSINESS STANDARD

[I]  Banks are designing a scheme for bailing out stressed power assets

[I]  Auto sales advance 17.5% to 2,379,718 vehicles in April, says Siam

[I]  India Inc's April M&A deal tally rises 8-fold to $19 bn: Report

[I]  RBI regulations create roadblocks for peer-to-peer lending companies

[I]  GST likely on banks 'free' services as they are actually 'charging' clients

[I]  Crude shock: CAD ghost to haunt India again in FY19 as oil prices soar

[I]  New US complaint at WTO on India's farmer subsidy

 

 

MARKETS (7:45 am)       

[I]  SGX NIFTY Fut: 10783;  USDINR DGCX: 67.2550;  DJIA Mini: 24724;  FTSE 100 Fut: 7686;  NIKKEI 225 Fut: 22683;  EUR-USD: 1.1913; Crude Oil (WTI): 71.34;  Gold (Spot): 1320          

Best Regards, ARBIND

11 May 2018