MACRO ECONOMIC NEWS

WISH, PRESENCE OF JOY SHINE UPON US IN EVERYTHING WE DO

Macro Economic News 01 May 2018

 

Trade talks between China and the U.S. take center stage, yet it’s what won’t be discussed that may matter more. The off the table topics include: a mandatory cut of $100 billion in the U.S.-China annual trade deficit, and curbs on Beijing’s plan to support the country’s industrial upgrade into advanced technologies. And the dollar’s rally will be put to the test amid a busy week of top tier U.S. data and a Fed interest-rate decision. Hong Kong is worried about risks stemming from a rapid run up in margin lending. Outstanding margin loans increased 9 folds to hit HK$206 billion ($26.3 billion) at the end of 2017 from 2006. Australia, RBA policy makers are expected to hold record-low interest rates for the 20th straight meeting.

 

FINANCIAL TIMES

[I]  Merger mania whips up $120bn of tie-ups in just one day

[I]  EU resigns itself to tariffs as US seeks to use leverage

[I]  China commerce with Asean countries lags behind regional trade

[I]  Trump deserves Nobel Peace prize, says South Korea president

[I]  Theresa May under pressure to break Brexit deadlock

[I]  US inflation rises towards Fed target

[I]  Financial regulators turn their sights on banks’ use of cloud

 

REUTERS

[I]  Iran views Turkmenistan-India gas pipeline as unlikely: report

[I]  U.S. postpones steel tariff decision for U.S. allies until June 1

[I]  U.S. says Israel's information on Iran nuclear program 'compelling'

[I]  U.S. House may vote on Dodd-Frank changes in May: majority leader

[I]  ECB tells banks to pay 12 percent more for their supervision

[I]  EU's Barnier says must be prepared for risk of no Brexit deal

[I]  Euro zone lending picks up, money supply growth slows in March

 

BLOOMBERG 

[I]  The U.K. Labour Party’s Plan to Cut Energy Bills for Low-Income Households

[I]  U.S. Extends Steel Tariffs Relief for EU and Other Allies, Source Says

[I]  Trump's Tariff Relief Comes Down to the Wire Ahead of May 1 Deadline

[I]  Five Things You Need to Know to Start Your Day

[I]  Oil Rises as ‘Alarm Bells’ Sound Over Unraveling Iran Nuke Deal

[I]  Businesses Are Buying More Renewable Power Than Ever Before

[I]  U.K. Eyes Southeast Asia for Post-Brexit Trade Bursts

[I]  Indonesia Vows to Restore Calm to Currency Market After Selloff

[I]  Hong Kong Regulator Concerned on Nine-Fold Rise in Margin Loans

[I]  Russia Sends Oil to China at Europe's Expense as Trades Upended

 

WALL STREET JOURNAL

[I]  How Bad Is the Labor Shortage? Cities Will Pay You to Move There

[I]  Inflation Hit Fed’s 2% Target in March

[I]  Trump Steel-Tariff Deadline Looms, With Allies on Edge

[I]  For China, the American Team of Trade Rivals Won’t Be Easy to Please

[I]  Mexican Auto Industry Opposes Latest U.S. Proposal on Nafta Rules

[I]  U.S. Consumer Spending Bounced Back in March

[I]  U.S. Tax Revamp Weakens Case for Companies to Shift Profit Overseas

[I]  Growing Concern: Foreign Investors Lose Some Hunger for U.S. Debt

[I]  Mexico’s Economy Picked Up Pace in First Quarter

[I]  Growth Cooled in First Quarter as Consumers Reined In Spending

[I]  A Limit to China’s Economic Rise: Not Enough Babies

 

BUSINESS LINE

[I]  Panel moots changes in RTA ownership rules

[I]  With tax reforms, Indo-Bangla trade sees a sharp decline in malpractice

[I]  CBI move, a catch-22 situation for SEBI?

[I]  Telecom panel meet today: Net neutrality tops agenda

[I]  ‘Low’ stays put in Bay; violent weather seen for East, N-E

[I]  Taking utmost home care of elders

[I]  Serving up traditional Indian delicacies with authentic spices

[I]  Commercial office space may rise 20% to over 600 m sqft this year: CBRE report

[I]  ‘There is a need for continued public spending’

 

ECONOMIC TIMES

[I]  Dollar holds near 3-month highs as euro struggles

[I]  Yields at 3%, yet bond market bears are everywhere

[I]  India more attractive for carry trades with RBI easing norms

[I]  E-commerce companies may need to prepare for withholding tax in two months

[I]  Commerce ministry asks FSSAI, customs to cut import clearance time of food cargoes

[I]  India's engineering exports hit an all time high of $76 billion

[I]  Improving output, innovation key to make India manufacturing hub

[I]  India’s industrial, warehousing leasing to touch 20 mn sq ft in 2018: Report

[I]  356 infrastructure projects show cost overrun of Rs 2.19 lakh crore

[I]  Govt may ask firms to set-up servers locally by 2022 under NTP

[I]  Corporate frauds: Govt to encourage whistle-blowers to report suspicious activities

[I]  RBI note on data localisation raises hackles in the US

 

BUSINESS STANDARD

[I]  Fintech shifting the goalpost? Wallets are passe as firms enter MFs, retail

[I]  Government may ask firms to set up servers locally

[I]  Govt brings relief to 2,500 Mw thermal power stations with pilot scheme

[I]  International Labour Day: Profiling the Indian workforce

[I]  Govt identifies four rural banks for IPOs; public issues likely this year

[I]  PFRDA sees stock boost; govt employees may get to invest 50% savings

[I]  MFIs see slowdown in bank funding despite a fall in the cost of funds

 

 

MARKETS (6:30 am)       

[I]  SGX NIFTY Fut: 10742;  USDINR DGCX: 66.6975;  DJIA Mini: 24157;  FTSE 100 Fut: 7460;  NIKKEI 225 Fut: 22439;  EUR-USD: 1.2082; Crude Oil (WTI): 68.66;  Gold (Spot): 1315             

Best Regards, ARBIND

01 May 2018