MACRO ECONOMIC NEWS

THIS WEEKEND BLESSES US WITH GUIDANCE, VICTORY, SUCCESS, PROVISION, PROTECTION, COMFORT, FAITH AND REWARD

Macro Economic News 12 May 2018

 

Oil prices, the dollar, sanctions, trade tensions, trips to the International Monetary Fund and shock of election results, financial markets felt turbulence this week with ramifications for the world economy. Emerging markets are facing perhaps their biggest stress test since the Federal Reserve’s 2013 “taper tantrum” episode. Currency volatility and capital flows are among the worries on the horizon in Asia, while central banks across emerging markets are being put on the spot to manage fresh stresses, particularly in India. Almost two dozen key EMs will decide on interest rates over the next two weeks, but Federal Reserve chief Jerome Powell says he’s confident these markets can handle policy normalization in advanced economies.

FINANCIAL TIMES

[I]  China buys up flying schools as pilot demand rises

[I]  The New World Order: Donald Trump goes it alone

[I]  Workers of the world unite in green spaces

[I]  Mahathir comeback turns former protégés’ worlds upside down

[I]  ECB head Draghi backs France’s call to complete banking union

[I]  Argentines fear return of IMF ‘bad guys’

[I]  US ambassador defends criticism of Germany on Iran

[I]  The House of Lords is leaping to the defence of UK democracy

 

REUTERS

[I]  Bad loans push four state banks' loss to $1.74 billion

[I]  India's industrial growth slows to five-month low in March

[I]  India and Nepal PMs launch construction of 900 MW power plant

[I]  Pompeo promises North Korea future 'brimming with prosperity' if it denuclearises

[I]  No trade war with Germany, U.S. ambassador promises

[I]  In an interplanetary first, NASA to fly a helicopter on Mars

[I]  Negotiators fail to reach NAFTA deal, Trump launches new attack

[I]  U.S. import prices, surveys point to moderate inflation

[I]  Take Five: World markets themes for the week ahead

 

BLOOMBERG 

[I]  Canada and Mexico Downplay Urgency to Reach Nafta Deal Next Week

[I]  Mexico Takes First Steps in Annual Oil Hedging Program

[I]  Symantec Mystery Probe Has Market Imagining the Worst

[I]  Bitcoin Faces 'Death Cross' After Falling Below $9,000

[I]  Fed Study Shows U.S. Hikes Hit High-CPI Emerging Markets Hardest

[I]  Emerging-Market Gains Leave Argentina, Turkey Behind

[I]  Egypt's Sovereign Rating Raised by S&P on Economic Revival

[I]  Argentine Peso's Wild Ride Is Getting Even Wilder

 

WALL STREET JOURNAL

[I]  U.S. Consumer Sentiment Held Steady in Early May

[I]  As Nafta Deadline Nears, Hopes for Deal Focus on Autos

[I]  Quotas Make a Comeback as Countries Seek U.S. Tariff Exemptions

[I]  Why Americans Aren’t Feeling Wage Gains

[I]  Canada Shed Jobs in April, While Wages Rose to Near Six-Year High

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

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

[I]  In a Dollarized World, Rising Dollar Spells Pain

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

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

 

BUSINESS LINE

[I]  SEBI asks listed firms to set up a panel to monitor unlisted outfits

[I]  No consensus on GST concession for digital payments

[I]  SEBI mandates secretarial audits for listed companies

[I]  Crypto exchanges join hands against RBI

[I]  Industrial output slips to 5-month low of 4.4% in March

[I]  FCI wants Rs. 1/kg hike in wheat open market sale price in FY19

 

ECONOMIC TIMES

[I]  Oil at $100 is a possibility next year, Bank of America says

[I]  Forex reserve falls by $1.4 billion to $418.9 billion

[I]  Government bond auction disappoints for 4th straight week

[I]  GoM on sops for digital payments under GST to study revenue impact

[I]  Demand for cotton seeds in Punjab down 20-30% from year ago, say companies

[I]  US sanctions on Iran may help boost Indian commodity exports

 

BUSINESS STANDARD

[I]  Industrial production slips to 5-month low of 4.4% in March

[I]  PMO calls meet with Power Ministry, leading lenders on stressed assets

[I]  10% drop in margin for seafood shippers this year on lower American demand

[I]  Renewable energy dispute: WTO sets up panel to resolve India-US row

[I]  Gems and jewellery sector risky, says State Bank of India

[I]  RBI's net buying of dollar from spot market declines in March to $996 mn

 

Best Regards, ARBIND

12 May 2018