MACRO ECONOMIC NEWS

WISH THE DAY ENABLES TO REALISE WE CAN DO MORE THAN WHAT WE THINK

Macro Economic News 30 May 2018

 

Italy’s political turmoil sends shockwaves through global markets, as concerns around a bigger European crisis swirl. And Trump ratchets up trade pressure on China, while preparing to welcome a top North Korean envoy to the U.S. It looks like the debt crisis days of 2012 all over again for investors, as Italian, Portuguese and Greek bond yields surged and billionaire George Soros warned of an “existential threat” to the European Union. The European Union is weighing a much stronger warning on the risk of Brexit talks collapsing without a deal if the U.K. fails to lay out its position in more detail next month, said a person familiar with the matter.

 

FINANCIAL TIMES

[I]  Global financial markets buffeted by Italy’s political crisis

[I]  White House reboots China trade war with tariffs announcement

[I]  China’s carbon emissions set for fastest growth in 7 years

[I]  EU leaders spar as Italy’s political crisis deepens

[I]  Brazil’s crisis deepens as truckers stay on strike

[I]  Philippines claims it would ‘go to war’ over China incursions

[I]  Chinese property investment in Australia plummets

[I]  North Korea continues to raise foreign currency despite sanctions

 

REUTERS

[I]  India resists lobbying by U.S. payment firms to ease local data storage rules

[I]  India's top fuel retailer trims petrol, diesel prices

[I]  U.S. to continue trade actions against China: White House

[I]  Trump says Mexico will eventually pay for border wall

[I]  Canada's Freeland vows to defend workers against U.S. metals tariffs

[I]  U.S. Treasury sees Italy better off in euro zone: official

[I]  Italy banker warns on political crisis as investors fear for euro

 

BLOOMBERG 

[I]  The Yuan's Suddenly in a Downdraft With Worst Losses in Asia

[I]  Crisis-Weary Central Banks Brace for Turmoil as Italy Implodes

[I]  Japan’s Retail Sales Pick Up in April, Beating Expectations

[I]  Hedge Fund Giant Sees More Pain to Come for Indonesian Debt

[I]  China's Economy Is Battling Slowdown, Earliest Indicators Show

[I]  Italian Political Impasse Envelops Country's Corporate Bonds

[I]  Indonesia Rate Hike Is Coming Early With Elections on Horizon

[I]  Trump Ratchets Up Pressure on China With Swerve on Tariff Plans

 

WALL STREET JOURNAL

[I]  U.S. Catches China Off Guard With Plan to Move Ahead on Trade Curbs

[I]  As Trump Talks Tough on Trade, Worries Mount Over Lack of Action

[I]  Home Prices Continued to Rise in March

[I]  U.S. Consumer Confidence Increased in May

[I]  U.S. Stocks Tumble as Italian Woes Jolt World-Wide Markets

[I]  Heard on the Street: Bank Investors Fear Return of European Doom Loop

[I]  Italy and the Euro Crisis: How We Got Here

[I]  ‘Gradualism Is Dead’: Argentina Faces Pressure to Hasten Economic Overhaul

[I]  Bank of Canada Seen on Hold Amid Trade Uncertainty, Housing Slowdown

[I]  Central Banks Try New Tack: Entertainment

[I]  North Korea Skirts Sanctions With Ship Transfers Over Wider Area

[I]  Global Economy Week Ahead: U.S. Jobs Report, Brazil GDP, Eurozone Inflation

 

BUSINESS LINE

[I]  TRAI eyes blockchain solution to cut pesky calls

[I]  Indian firms all for employees sharing cabs, lodging: Survey

[I]  Centre promises to refund textile GST dues in 20 days

[I]  Local firms, MNCs keen on 9th bidding round for City Gas Distribution

[I]  How long can India sustain ad hoc agri-trade policies? Stability is essential

[I]  Bumper sugarcane output a bitter pill for sugar mills: ISMA

[I]  Monsoon sets in over Kerala; Bay of Bengal too in rain mode

 

ECONOMIC TIMES

[I]  The good news banks are about to give Modi govt is worth Rs 3 lakh crore

[I]  FPI debt selling hits 18-month high in May

[I]  India among Asia's most debt risky nations

[I]  Monsoon rains hit Kerala 3 days ahead of schedule: IMD

[I]  GST refund of over Rs 20,000 crore pending, says FIEO

[I]  India's exports may reach $350 bn this fiscal: FIEO

[I]  India's exports seen hitting $350 billion in 2018-19: Trade body

[I]  India resists lobbying by US payment firms to ease local data storage rules

[I]  PSUs may soon be able to share infra, training facilities via portal

 

BUSINESS STANDARD

[I]  37 banks see Rs 1.3 trillion jump in gross non-performing assets in Q4

[I]  Income-tax appeal limits may be raised to cut litigation

[I]  Govt wants RBI to frame dividend policy; to amend RBI Act

[I]  Banks have disbursed Rs 6 trillion Mudra loans, says PM Narendra Modi

[I]  At 18%, Indian customers biggest victims of banking fraud: FIS study

[I]  Spending 2% on CSR to bridge gap between society, firms: Suresh Prabhu

[I]  Banking stress: Demonetisation woes drag on for small finance banks

[I]  Public sector banks approach RBI to stay out of prompt corrective action

[I]  India, Indonesia are among Asia's most debt-risky nations: Moody's

 

MARKETS (8:30 am)

[I]  SGX NIFTY Fut: 10547;  USDINR DGCX: 68.0900;  DJIA Mini: 24371;  FTSE 100 Fut: 7602;  NIKKEI 225 Fut: 21958;  EUR-USD: 1.1535; Crude Oil (WTI): 66.54;  Gold (Spot): 1299          

Best Regards, ARBIND

30 May 2018