MACRO ECONOMIC NEWS

WISHING THE DAY CAUSES OPPORTUNITIES CREATING MEANING OF LIFE

Macro Economic News 31 May 2018

 

The case for the PBOC to cut its reserve ratio again is getting stronger. Chinese banks racked up 2.93 trillion yuan ($457 billion) in medium-term loans extended by the PBOC scheduled for repayment during the rest of 2018. And China PMI figures highlight a busy day for economic data in Asia. Italy’s 10-year yield fell as much as 32 basis points.

 

FINANCIAL TIMES

[I]  US commerce secretary rebuffs EU demands for tariff exemptions

[I]  Italian populist parties rekindle talks to form government

[I]  Crackdown on activists highlights Saudi paradox

[I]  Rebound in returns boosts hedge fund manager earnings

[I]  Donald Trump’s tariff threats complicate US-China trade talks

[I]  EU plans €30bn fund to help crisis-hit eurozone countries

[I]  OECD says global economy set to strengthen in 2018 but risks loom

[I]  Germany struggles to fend off assaults from Trump

[I]  China emerges as Asia’s surprise leader on data protection

[I]  US company investment data signal interest rate rises

 

REUTERS

[I]  India's quarterly growth likely topped 7 percent again

[I]  Political worries set to check Indian stock market bulls: Reuters poll

[I]  In symbolic nod to India, U.S. Pacific Command changes name

[I]  High-level U.S.-North Korea nuclear talks get underway in New York

[I]  China says reserves right to retaliate to U.S. actions against its investments

[I]  China May official factory growth at eight-month high, well above forecasts

[I]  U.S. to slap tariffs soon on steel, aluminum from EU: sources

[I]  Japan's factory output growth slumps in April, dims production prospects

[I]  New Zealand plans to invest in more recycling plants as it deals with China waste ban

[I]  China issues rules to get tough on academic integrity

[I]  German jobless rate hits record low in May

[I]  Euro zone, IMF to seek last-minute deal on Greek debt at G7 this week

 

BLOOMBERG 

[I]  India's Growth Recovery Runs Straight Into Emerging Market Chaos

[I]  China's Factory Gauge Beats Estimates on Global Trade Resilience

[I]  The ECB Is Turning 20, But It Can’t Shake Teenage Angst

[I]  U.K. Consumers, Businesses More Upbeat About Spending Prospects

[I]  China's Role as Creditor to the World is Fading

[I]  Indonesia's Two Interest-Rate Hikes May Not Halt Rupiah's Rout

[I]  Treasury Volatility Reawakens With Biggest Jump Since 2016

[I]  China's Factory Gauge Beats Estimates on Global Trade Resilience

 

WALL STREET JOURNAL

[I]  Corporate Profits Boosted in Early 2018 by Tax Cuts

[I]  Fed’s Beige Book Finds Manufacturing Shifting Into Higher Gear

[I]  U.S. Planning to Hit EU With Steel, Aluminum Tariffs

[I]  Fed Backs Easing Volcker Rule Restrictions on Big Banks’ Trading

[I]  Who’s Most Vulnerable to Italy’s Troubles? Europe’s Banks

[I]  Private Sector Added Fewer Jobs in May

[I]  U.S. Catches China Off Guard With Plan to Move Ahead on Trade Curbs

[I]  Rural America Has Jobs. Now It Just Needs Housing

[I]  Then and Now: The Italian Crisis in Seven Charts

[I]  Bank of Canada Signals Rate Rise Could Come Soon

[I]  Real Time Economics: U.S. Threatens Tariffs, Italy Rattles Markets

 

BUSINESS LINE

[I]  Waterways to be top priority, says Gadkari

[I]  Growth in Q4 of FY18 may spring a positive surprise

[I]  ‘SME market lends confidence to growing entrepreneurs’

[I]  Sub-par rain in August may impact early kharif crop

[I]  Wage demands give Kerala’s plantation sector the chills

[I]  Will India’s coal plants be left high and dry?

[I]  ‘E-commerce is changing the skill requirements in logistics’

 

ECONOMIC TIMES

[I]  India won’t levy duty on solar gear imports

[I]  Tea output may fall 25% due to dry spell

[I]  Government refutes exporters’ claim on pending GST refunds

[I]  Watch: Moody's slashes 2018 India growth forecast to 7.3%

[I]  Exports from SEZs rise 5% to Rs 20,548 cr in April: EPCES

[I]  WTO to set up dispute panel on India-US case on export subsidies

[I]  India pitches for WTO talks on checking theft of traditional knowledge

[I]  New policy on electronics likely in two months: IT secretary

[I]  Govt promises to disburse exporters’ Rs 20,000 crore refunds

 

BUSINESS STANDARD

[I]  Bank strike: Digital operations, delayed salaries to give some pain ahead

[I]  Angel investors not cheering tax exemption, reluctant to share bank details

[I]  Too many payment systems: RBI deputy governor B P Kanungo

[I]  WTO to set up dispute panel on India-US case on export subsidy dispute

[I]  South & NE may get lesser rains than north and central India: IMD

[I]  Moody's cuts India's growth forecast to 7.3% from 7.5% on higher oil prices

[I]  India, Indonesia sign 15 strategic pacts, including one on defence ties

 

MARKETS (8:30 am)

[I]  SGX NIFTY Fut: 10648;  USDINR DGCX: 67.6875;  DJIA Mini: 24647;  FTSE 100 Fut: 7680;  NIKKEI 225 Fut: 22112;  EUR-USD: 1.1669; Crude Oil (WTI): 68.13;  Gold (Spot): 1304          

Best Regards, ARBIND

31 May 2018