MACRO ECONOMIC NEWS

WISH WE APPRECIATE LITTLE THINGS AND TUNES INTO GRATITUDE TO LIFE ITSELF.

Macro Economic News 03 May 2018

 

Stocks slump and the yield curve steepens after the Federal Reserve stands pat on interest rates. And all eyes turn to Beijing Thursday where U.S. and Chinese negotiators are set to discuss trade. A senior government official said China won't succumb to "threats" from the U.S. just as trade talks are set to begin in Beijing. China won't accept any U.S. preconditions for negotiations, such as abandoning its long-term advanced manufacturing ambitions or narrowing the trade gap by $100 billion. U.S. inflation is close to target without indicating any intention to veer from their gradual path of interest-rate increases. The 10-year Treasury reversed an early decline that sent yields near 3%. The world economy showed signs of stabilizing after a recent moderation as manufacturing activity strengthened for the first time this year.

 

FINANCIAL TIMES

[I]  Eurozone growth hits slowest pace in 18 months

[I]  Bank of England leads central bank policy retreat

[I]  US groups warned of credit hit from US-China trade war

[I]  Wealthier EU states attack Brussels plan to end rebates

[I]  Iran’s oil gains at risk as Trump’s nuclear deadline nears

[I]  Russian military spending falls as sanctions bite

[I]  Saudi Arabia expects return to growth this year

[I]  Fed signals steady course on inflation outlook

[I]  China shores up N Korea ties with foreign minister visit

 

REUTERS

[I]  Officials lament inaction of cities with world's worst air

[I]  Air of Indian cities looks dirtiest

[I]  Fed leaves interest rates unchanged, says inflation near goal

[I]  Chances for U.S.-China trade breakthrough seen slim in Beijing talks

[I]  China won't accept preconditions in U.S. trade talks - Chinese government official

[I]  U.S. cuts off Brazil tariff talks, adopts steel import quotas

[I]  Ultimate frontier market? Amid thaw, Chinese eye North Korea real estate

[I]  EU launches battle for bigger post-Brexit budget

 

BLOOMBERG 

[I]  Over 30? You’re Too Old for Tech Jobs in China

[I]  China Is Weakening Its Currency Before U.S. Trade Talks Begin

[I]  The Trump Effect May Finally Be Weighing on China’s Exports

[I]  Banks Seeking Hong Kong Deposits Push Rates as High as 3%

[I]  Treasury Supply Shock Has Yet to Fully Hit the Market, Analysts Say

[I]  Fed Calm Over 2% Inflation Underlines Gradual Rate-Hike Outlook

[I]  A Rare Treasury Yield-Curve Trade Emerges After Fed Decision

[I]  Fears of Rigging Hang Over Zimbabwe's First Post-Mugabe Vote

 

WALL STREET JOURNAL

[I]  Fed Holds Rates Steady, but Indicates Increases Will Continue

[I]  Parsing the Fed: How the May Statement Changed From March

[I]  U.S. Private Sector Posts Another Month of Employment Growth

[I]  Trump’s Aggressive Trade Agenda Brings Heightened Tensions

[I]  Why Xi’s Hands Are Tied in Trade Talks

[I]  Trump Trade Chief Wants Nafta Deal by Mid-May

[I]  Eurozone Economy Wobbles in First Quarter

[I]  Why Central Banks’ Power Over Markets Is Here to Stay

[I]  Real Time Economics: Europe Stumbles | Share Buybacks |Trade Deadlines

 

BUSINESS LINE

[I]  Telecom Policy eyes 40 lakh new jobs, $100-b investment by 2022

[I]  Centre pilots private poppy cultivation and extraction of opium with new technology

[I]  Chennai, Lucknow, Guwahati airports to get Rs. 5,000-cr facelift

[I]  Cross-border sales a ‘win-win’ for global brands with no retail presence in India

[I]  Manufacturing PMI rises to 51.6 in April

[I]  Industry, analysts give the draft a thumbs up

[I]  ‘Fixed line broadband access to 50% of households by 2022 is a tall task’

[I]  Bay ‘low’ curls up over Myanmar coast; is it Arabian Sea’s turn next?

[I]  High NPA ratio proves PSBs did not make enough provisions: RBI

[I]  Banks’ recognition of NPAs will be beneficial in the long-term: Moody’s

 

ECONOMIC TIMES

[I]  India among top 5 biggest defence spenders

[I]  US yields dip after quarterly refunding, Fed statement

[I]  Cabinet approves subsidy of Rs 55 per tonne for sugarcane farmers

[I]  India to WTO: No breach of farm subsidy limits in FY15 and FY16

[I]  Poland bets big on West Bengal as investment destination

[I]  India’s trade surplus with US hits a high

[I]  India slips 3 notches to 11th spot in AT Kearney FDI Confidence Index

[I]  Demand push for manufacturing in April as PMI rises to 51.6

[I]  Is India's oil addiction undermining its economy once more? All signs are worrying

[I]  Now, transfer of commercial tenancy rights put under GST

[I]  Taking broadband to all is focus of new policy: Telecom Secretary

[I]  Foreign investors need to develop state specific strategies in India: Niti

[I]  Cabinet nod to ordinance to amend law for speedy disposal of commercial disputes

[I]  Cabinet approves continuation of PMSSY beyond 12th Five Year Plan to 2019-20

 

BUSINESS STANDARD

[I]  EPFO temporarily shuts Aadhaar seeding portal after reports of data theft

[I]  Truck, bus sales zoom from low base in April as infra sector picks up

[I]  Economic growth in India likely to strengthen at 7.3% this fiscal: Report

[I]  Revenue dept to look at quarterly GST revenues average for trend analysis

[I]  Aviation sector will see Rs 1 trn investment in next 5 years: Jayant Sinha

[I]  Payroll data indication of formal sector, not overall jobs in economy: Govt

[I]  RBI policy relatively insulated from global monetary policy: Staff paper

[I]  New orders, faster output pull up April manufacturing PMI from 5-month low

[I]  Banks' push for NPA recognition to hurt near-term profitability: Moody's

 

MARKETS (7:30 am)       

[I]  SGX NIFTY Fut: 10713;  USDINR DGCX: 66.9900;  DJIA Mini: 23925;  FTSE 100 Fut: 7543;  NIKKEI 225 Fut: 22473;  EUR-USD: 1.1973; Crude Oil (WTI): 67.85;  Gold (Spot): 1310             

Best Regards, ARBIND

03 May 2018