MACRO ECONOMIC NEWS

WISH WE WAKE UP EVERY MOMENT WITH THANKFUL ATTITUDE

Macro Economic News 04 May 2018

 

The U.S. and China wrapped up their first day of trade talks on Thursday, without giving any sense of progress on a deal to stop an escalation of trade barriers. Senior officials declined to comment to reporters upon arrival at their hotel after the meetings, but a White House economist described the first day as "fairly positive." Trade talks will dominate Friday's agenda once again. Investors will also be mining the RBA's Quarterly Monetary Policy statement for clues to Australia’s outlook. Also due: Philippines CPI, PMI reports for Singapore and Hong Kong, along with Malaysian trade figures.

 

FINANCIAL TIMES

[I]  US listings triumph over market veterans for investors

[I]  China braced for surprises in US trade talks

[I]  Brussels warns Trump’s trade policies pose threat to Europe

[I]  Germany vows to speed up asylum process as migrants free deportee

[I]  Argentina defends peso as emerging markets stumble

[I]  Poland offers fresh concession to EU over legal reforms

[I]  EU draws up Iran plan B amid jitters over nuclear deal

[I]  Commonwealth Bank admits losing records for 20m customer accounts

 

REUTERS

[I]  Australia's central bank sees faster growth, slow inflation - a recipe for steady rates

[I]  U.S. says will be consequences for China's South China Sea militarization

[I]  U.S. Treasury Secretary says having good trade conversations in China

[I]  Indonesia looks to blockchain to fix its dodgy data challenges

[I]  Oil prices inch up on Iran sanction worries

[I]  U.S. risks reversing Iran nuclear deal's inspection gains

[I]  Measuring Macron: Is France’s leader rebooting the economy?

 

BLOOMBERG 

[I]  America’s Last-Ditch Climate Strategy of Retreat Isn’t Going So Well

[I]  U.S. Trade Gap With China Widens as Beijing Talks Get Under Way

[I]  White House Sees a ‘Positive’ Start to Closed-Door China Talks

[I]  How Trump Led the U.S. and China to the Brink of a Trade War

[I]  VIX Probes Are Latest Gut Check for Volatility Traders

[I]  Central Banks Sounding More Cautious as Fed Holds: Economy Week

[I]  Bank of England Rate-Hike Cycle Is Merely Delayed, Niesr Says

[I]  Flow of Venezuelans Into Brazil Set to Increase, Police Say

 

WALL STREET JOURNAL

[I]  U.S. Foreign-Trade Deficit Narrowed in March

[I]  U.S. and China Dive In for Prolonged Trade Talks

[I]  Xi’s Hands Tied in Trade Talks With U.S.

[I]  Trump Tariff Plans Drive Wedge Between France and Germany

[I]  U.S. Workers’ Productivity Edged Up in First Quarter

[I]  U.S. Jobless Claims Edged Higher Last Week

[I]  U.S. Nonmanufacturing Pace Slowed in April

 

BUSINESS LINE

[I]  Private sector subscribers of NPS can now opt for 75% equity investment

[I]  India opposes US proposal to penalise China for IPR violation

[I]  Import tariff exemption on 28 drugs will help reduce trade gap with India, says Chinese ambassador

[I]  PM campaigning, can’t frame Cauvery scheme: Centre to SC

[I]  ‘India has one of the simplest cost structures for MFs’

[I]  Stormy conditions may persist over North for a couple of days more

[I]  Bank account portability still some time away

[I]  Why are Indian banks curtailing their overseas operations?

 

ECONOMIC TIMES

[I]  High NPAs may restrict credit growth to 8% in FY19: Report

[I]  India's slippery bond vigilante is back

[I]  Red hot in 2017, dollar bonds turn cold now

[I]  PE, VC investments record best first quarter since 2008 at $7.9 billion: EY

[I]  India to pitch for increased lending from ADB

[I]  India's GDP revisions are beginning to confuse even RBI's own economists

[I]  Revamp of 500 cities: 0.38% of outlay utilised in 3 years

[I]  US, Japan and Singapore propose free flow of data, oppose server localisation

[I]  GST Council meet tomorrow; simplification of return form on agenda

[I]  New industrial policy may suggest stronger local bodies

[I]  Interest rates unlikely to go up further: DEA Secy

[I]  Pay 2% of capital investment for green clearance: Environment Ministry to Corporates

 

BUSINESS STANDARD

[I]  Employee addition by Indian information technology's Big 4 drops over 76%

[I]  India Inc lines up to hedge forex exposures before it is too late

[I]  With wings clipped, payments banks face uphill task

[I]  GST Council to take a call on converting GSTN into a govt-owned company

[I]  Firms to challenge input tax credit notices, revenue department's stand

[I]  NPS subscribers allowed to partially withdraw fund for setting up biz

[I]  Textiles, jewellery and other labour-intensive export sectors face slowdown

[I]  AUMs of mutual funds are growing and eating into share of bank deposits

 

MARKETS (7:45 am)       

[I]  SGX NIFTY Fut: 10663;  USDINR DGCX: 66.8900;  DJIA Mini: 23844;  FTSE 100 Fut: 7483;  NIKKEI 225 Fut: 22420;  EUR-USD: 1.1991; Crude Oil (WTI): 68.38;  Gold (Spot): 1314             

Best Regards, ARBIND

04 May 2018