MACRO ECONOMIC NEWS

WISH, THIS DAY BLESSES US WITH FULLNESS IN EVERYTHING IN EVERY WAY

Macro Economic News 18 May 2018

 

The U.S. says China has offered a $200 billion cut in its trade surplus with the world’s largest economy, while Trump has told reporters that he doesn’t consider Libya a model for denuclearization negotiations with North Korea. Debt levels that quadrupled in a decade have made emerging markets vulnerable to tightening financial conditions in the era of rising U.S. interest rates, Fitch Ratings said. Outstanding debt securities from developing nations have ballooned to $19 trillion from $5 trillion a decade earlier. Despite the development of local-currency bond markets, borrowers will be hobbled by higher external borrowing costs, a stronger dollar and slowdown of capital inflows.

 

FINANCIAL TIMES

[I]  Iran turmoil and Venezuela collapse send oil above $80 a barrel

[I]  Political angst fails to knock the shine from Italian stocks

[I]  Italian system threatens populist vision

[I]  North Korea’s summit threats bode ill for nuclear deal 

[I]  US and EU head for showdown over shutting Iran off from finance

[I]  Brussels acts against six states for ‘persistent’ air pollution

[I]  UK ministers close to agreement on Irish border ‘backstop’

[I]  Young left out of US boom in housing wealth

[I]  Nafta talks set to drag in to next year after missed deadline

[I]  Hidden value in phones could ‘cut US trade deficit in half’

[I]  Falling US birth rate imperils welfare programmes

 

REUTERS

[I]  CCI ruling could cause 'irreparable' harm - Google

[I]  Saudi Arabia gives assurances on supply as oil hits $80 per barrel

[I]  China offering Trump package to slash U.S. trade deficit, officials say

[I]  China offering Trump package to slash U.S. trade deficit, officials say

[I]  Some U.S. House Republicans see progress on 'Dreamer' immigration deal

[I]  U.S. House panel hopes to vote soon on bill tightening foreign investment

[I]  U.S. ends practice that gave some immigrants reprieves from deportation

[I]  India's state power plants resume coal imports amid domestic shortages

[I]  EU heads discuss bold-or-fold strategy toward Trump tariffs

 

BLOOMBERG 

[I]  Reasons Why Global Growth Is Speeding Up, Not Slowing Down

[I]  Icahn ‘Strongly’ Protests AmTrust Deal to Take Insurer Private

[I]  Brokers Wary of Trading Snags as China's Stocks Go Global

[I]  China Offered Trump $200 Billion Cut in U.S. Trade Deficit, Official Says

[I]  China's Bond Market Is a Real Minefield for Investors

[I]  A Warning Signal for Global Stock Markets Is Flashing in Japan

[I]  Hong Kong's Retailers Ride High on Shopping Boom

[I]  Oil's Rally Above $80 Stokes Fears That Demand Will Suffer

[I]  Pope Calls Derivatives Market a ‘Ticking Time Bomb’

 

WALL STREET JOURNAL

[I]  U.S. Household Wealth Rises Largely Among Older Borrowers

[I]  Farms, Factories Won’t Meet U.S. Goal to Cut China Deficit

[I]  U.S. Workers Already Feel the Effects of Trade Tensions

[I]  Japan Considers Retaliation Against U.S. Steel Tariffs

[I]  U.S. Birth Rate Drops to Record Low

[I]  Argentina’s Economy Is Near Crisis. Will a Bailout Be Big Enough, Fast Enough?

[I]  U.S. Jobless Claims Rise, But Hover Near Recent Lows

 

BUSINESS LINE

[I]  Crude @ $80 gives Govt the jitters

[I]  Mandi Tax can stay, says Law Ministry

[I]  Centre promises help to 11 PSBs under PCA net

[I]  Centre unveils eSIM norms

[I]  New biofuel policy to boost private investments in ethanol production

[I]  IBC is still at a nascent stage, will evolve to resolve stressed-asset cases: Amitabh Kant

 

ECONOMIC TIMES

[I]  $15 billion bond-purchase binge seen in India to cap yields

[I]  US yields at 3.5% would spur stock exodus: Credit Suisse

[I]  India raises Iran oil imports in April to highest since Oct 2016 as U.S. sanctions loom

[I]  Private sectors of India, US and Japan have key role in development of Indo-pacific: Official

[I]  Andhra Pradesh promotes electric vehicles with fiscal sops

[I]  Legal shield in the works for foreign investments

[I]  Insolvency and Bankruptcy Code to end crony capitalism in India: Niti Aayog

 

BUSINESS STANDARD

[I]  NHAI soon to rank roads, economic corridors for safety, better mobility

[I]  Centre may ask RBI to ease prompt corrective action framework

[I]  In-flight connectivity: Telecom companies are not enthusiastic

[I]  Vehicle scrapping policy will lead to 20 dismantling units in India

[I]  Crude breaches $80 a barrel, pressure on RBI to hike rate

[I]  Rs 4 a litre hike in petrol, diesel prices in offing, say brokerage firms

[I]  The debt pile: IMF sounds a warning about growing levels of debt

 

 

MARKETS (8:30 am)       

[I]  SGX NIFTY Fut: 10674;  USDINR DGCX: 67.9175;  DJIA Mini: 24760;  FTSE 100 Fut: 7755;  NIKKEI 225 Fut: 22896;  EUR-USD: 1.1800; Crude Oil (WTI): 71.63;  Gold (Spot): 1288          

Best Regards, ARBIND

18 May 2018