MACRO ECONOMIC NEWS

WISH THIS DAY STARTS WITH CREATING DREAM AND MAKE IT VISIBLE

Macro Economic News 24 May 2018

Federal Reserve officials see another interest-rate increase soon, but held back on any indication of accelerating the pace of hikes. Fed minutes mentions that a temporary period of inflation “modestly above 2 percent would be consistent with the committee's symmetric inflation objective and could be helpful in anchoring longer-run inflation expectations,”. Turkey’s central bank raised interest rates at an emergency meeting bowing to pressure from financial markets after the government’s rejection of higher borrowing costs plunged the nation into a currency crisis. The central bank raised its late liquidity window rate by 300 basis points to 16.5 percent.

 

FINANCIAL TIMES

[I]  The investment case for buying Italian government bonds

[I]  Italian business warns of risk in cutting EU ties

[I]  Australia’s attempt to soothe relations with China in turmoil

[I]  How Britain’s departure from the EU stretches to mid-2020s

[I]  US has more than 5,600 banks. Consolidation is coming

[I]  US banks urged to do more unsecured lending

[I]  EU bankers step up warnings on threat from big tech

 

REUTERS

[I]  India to take 'long-term' view on surging fuel prices

[I]  U.S. launches national security probe of vehicle imports

[I]  Dollar loses steam on Fed minutes, Trump tariffs; euro under pressure

[I]  U.S. seeks to take control of infected routers from hackers

[I]  Global Markets: Asia markets lower on renewed U.S.-China trade concerns

[I]  Trump says will know next week if North Korea summit to go ahead

[I]  ECB set to look through tepid inflation, end QE this year: Reuters poll

[I]  Comcast prepares to top Disney's $50 billion offer for Fox

[I]  India takes U.S. steel tariffs complaint to the WTO

[I]  Euro zone business slowdown suggests best days may be over

[I]  Surprise fall in UK inflation muddies Bank of England rates picture

 

BLOOMBERG 

[I]  Bank of Korea Stands Pat After Disappointing Economic Data

[I]  U.S. Starts Probe to Consider Tariffs on Car, Truck Imports

[I]  Singapore Posts Solid First Quarter Growth on Manufacturing

[I]  Trade Wars: Episode IV, Fed June Hike, Krugman EM Alert: Eco Day

[I]  Brexit Red Tape Will Shrink Irish-U.K. Trade, Central Bank Says

[I]  How the BOJ Crushed Trading in Japan's $10 Trillion Bond Market

[I]  For Asia's New Central Bank Chief, It's Trial by Fire on Day One

[I]  The $100 a Barrel Oil Wager Comes Back to the Options Market

[I]  Why ‘Risk On’ and ‘Risk Off’ Are How the Markets Roll

[I]  Singapore Property Firm Switches Bets from China to Europe

 

WALL STREET JOURNAL

[I]  Fed Minutes Signal June Rate Increase

[I]  Fed Sets May 30 Vote on Proposed Volcker Rule Changes

[I]  Turkey’s Central Bank Lifts Key Rate Amid Lira’s Fall

[I]  Turkish Lira Recovers After Rate Rise

[I]  New Home Sales Post Weak Spring Start

[I]  Eurozone Business Activity Continues to Slow for Fourth Straight Month

[I]  Mexican Economy Picked Up Steam in First Quarter

[I]  Nafta Talks Stalled on U.S. Auto Demands

[I]  Why Student-Loan Delinquency Is Falling

[I]  In Booming Japan, the Phillips Curve Is Dead

[I]  Perks for Plumbers: Hawaiian Vacations, Craft Beer and ‘a Lot of Zen’

 

BUSINESS LINE

[I]  Home buyers to get rights as ‘creditors’ of insolvent firms

[I]  India challenges US tariffs on steel, aluminium at WTO

[I]  Headless wonders: Govt struggles to fill top positions in coal PSUs

[I]  Prime Minister reviews grievance-handling in railways, postal services

[I]  India seeks to revive WTO talks to check biopiracy

[I]  FSSAI moves to make drinking water vending machines safe

[I]  European data protection laws could end up shielding cyber criminals too, fear experts  

 

ECONOMIC TIMES

[I]  Rupee weakens further to 68.42, nearing its all-time low

[I]  US 5-year note sold at highest yield since Sept 2008

[I]  Food ministry moves Cabinet note on sugar buffer stock, minimum ex-mill price

[I]  IG International joins hands with Mr Apple to launch premium variety of apples

[I]  Finmin ties up with e-commerce firms to give loans under PMMY

[I]  Citing discrimination, India drags US to WTO on steel, aluminium tariffs

[I]  India moves one notch up to 44th rank in IMD's competitiveness rankings

[I]  India's billionaire count to rise 3 times by 2027: Report

[I]  Govt may set up elaborate machinery for new industrial policy execution

[I]  Cheapest option for India to boost farmers' income: Pay shortfall

 

BUSINESS STANDARD

[I]  Carmakers in a Catch-22 situation, face bumpy ride to BS-VI roll-out

[I]  Inventus rides on domestic investors for $50 million India-dedicated fund

[I]  Jet Airways slips to Rs 10.40 bn net loss in Q4 FY 2018 on rising costs

[I]  Crude oil price rise could moderate later, suggests Spanish survey

[I]  Strategic, programmed portfolio review process important to divest: Report

[I]  Govt charting long-term plan to tame fuel prices, says Ravi Shankar Prasad

[I]  Cabinet approves ordinance to give homebuyers creditor status under IBC

[I]  Digital gobbles up the business, but banks may not stop adding branches

[I]  After sugar, glut in molasses churns a bitter brew for mills in UP

[I]  Rising prices of newsprint a key concern for Indian and global publishers

 

MARKETS (8:00 am)

[I]  SGX NIFTY Fut: 10460;  USDINR DGCX: 68.3525;  DJIA Mini: 24782;  FTSE 100 Fut: 7765;  NIKKEI 225 Fut: 22437;  EUR-USD: 1.1708; Crude Oil (WTI): 71.68;  Gold (Spot): 1295          

Best Regards, ARBIND

24 May 2018