MACRO ECONOMIC NEWS

WISH THIS WEEK STARTS WITH LOVE. WE LOVE. WE ARE LOVED.

Macro Economic News 21 May 2018

U.S. and China reach a truce on trade, which may buoy Asian markets. FOMC minutes to be released as yield curve remains in focus.  PMIs for Europe and the U.S., as well as CPI data for Malaysia and Singapore, a Bank of Korea rates decision and Australian construction work will also guide the week.

 

FINANCIAL TIMES

[I]  US and China step back from brink of trade war

[I]  Big banks boost Brexit budgets

[I]  European champions needed to fend off US and China

[I]  Pollution studies cast doubt on China’s electric-car policies

[I]  Global dividends grow on back of US corporate strength

[I]  Investment banks line up rebound in revenues

[I]  Europe airlines face ‘precarious’ Brexit transition

[I]  Britain’s flat beer market struggles to revive

 

REUTERS

[I]  U.S., China putting trade war on hold, Treasury's Mnuchin says

[I]  Afghan government under pressure as Taliban threaten new district

[I]  Oil prices boosted by news China, U.S. put trade war 'on hold'

[I]  Japan's exports accelerate in April as volumes rise, outlook positive

[I]  Dollar edges up versus yen as U.S.-China trade war fears recede

[I]  China to encourage equity financing to ease debt reliance: report

[I]  UK financial sector wants global talent on tap after Brexit

[I]  U.S. will not recognize Venezuela election result - State Department

[I]  German companies worry Trump moving toward 'America Alone'

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

[I]  India gold discounts widen to most in two months; demand up elsewhere

 

BLOOMBERG 

[I]  Dollar May Drop 5% as Deficits Return to Spotlight, Fund Says

[I]  U.S.-China Truce, Malaysia's High Five, Fed EM Fallout: Eco Day

[I]  Japanese Exports Rebound in April After Weak March Reading

[I]  Carney to Face Rate-Rise Grilling From U.K. Lawmakers

[I]  London Housing Slump Deepens as Brexit Slows U.K. Property

[I]  Why Saudi Banking M&A Awoke From a Two-Decade Slumber

[I]  Beyond the Dollar Everything's ‘Just Noise’ for Emerging Markets

[I]  Investors Bet on Fresh Stock Volatility Like It's August 2016

[I]  Crude Oil's Surge Is Putting the ‘Petro’ Back in Petrocurrencies

[I]  Argentine Peso's Apparent Calm Masks Volatility

[I]  China's Got a $46,000 Wealth Gap Problem

 

WALL STREET JOURNAL

[I]  Split in Goods and Services Inflation Underscores Fed’s Challenge

[I]  Treasury, USTR Send Mixed Messages Over China Tariffs

[I]  Global Economy Week Ahead: U.S. Sentiment, U.K. Inflation, Eurozone PMI

[I]  Main Street Banks Feel Squeezed by New Lending Rivals

[I]  Mortgage Rates Hit Seven-Year High as Ultracheap Era Ends

[I]  IMF Begins Work on Bailout for Argentina, With U.S. Backing

[I]  Trump Trade Chief Says ‘Nowhere Near’ a Deal on Nafta

[I]  Which Jobs Are Workers Most Willing to Move For? These Ones

 

BUSINESS LINE

[I]  Mid-tier IT firms race past larger peers on valuations

[I]  We must adapt to EU data privacy rules

[I]  Urban India’s ‘self-righteous’ corruption

[I]  330-MW Kishanganga project set to power up northern Kashmir

[I]  Climate change cutting off 1.5% of GDP, says Vice-President

 

ECONOMIC TIMES

[I]  FPIs in exit mode, pull out Rs 18,000 crore in May

[I]  Finance Ministry expects banks to get back over Rs 1 lakh cr with resolution of 12 major NPAs

[I]  Government earns Rs 1,400 crore as revenue from e-tourist visa

[I]  'India sixth wealthiest country with total wealth of USD 8,230 bn'

[I]  Best use of insolvency law is in not using it at all: IBBI chief Sahoo

[I]  GST Council asks Centre, states to quickly set up appellate authorities

[I]  Revenue authorities step up efforts to make businesses file GST returns within deadline

[I]  Aadhaar, PAN mandatory for customs broker licence: Tax department

 

BUSINESS STANDARD

[I]  Banned shell firms come under tax scanner; CBDT asks MCA to give details

[I]  Dividend yield hits 10-year low of 1.1%; equity payouts down 3% in 2017-18

[I]  India sees 77% growth in HR analytics professionals in 5 years, says report

[I]  Overseas funds set date with Sebi on foreign portfolio investor circular

[I]  Credit card attraction goes beyond big cities; loan growth remains flat

[I]  About 700 digital villages will be set up by year-end: Ravi Shankar Prasad

[I]  In a retaliatory move, India mulls tariff hike on 20 US products

 

MARKETS (7:30 am)

[I]  SGX NIFTY Fut: 10624;  USDINR DGCX: 68.1100;  DJIA Mini: 24916;  FTSE 100 Fut: 7814;  NIKKEI 225 Fut: 23030;  EUR-USD: 1.1756; Crude Oil (WTI): 71.83;  Gold (Spot): 1290          

Best Regards, ARBIND

21 May 2018