MACRO ECONOMIC NEWS

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Macro Economic News 20 Jun 2018

 

Tensions are high the day after the U.S. and China took their trade dispute to the next level, though Goldman Sachs CEO Lloyd Blankfein doesn’t seem too worried and the PBOC is seeking to reassure investors. Beijing vowed to retaliate “forcefully” against U.S. President Donald Trump’s pledge to slap duties on another $200 billion in Chinese imports.

 

FINANCIAL TIMES

[I]  Mounting trade fears send waves through global markets

[I]  EU to consider building ‘migrant centres’ outside bloc

[I]  Argentina’s market rout leaves investors split on outlook

[I]  Merkel meets Macron demand for eurozone budget

[I]  US businesses speak out against Trump border policy

[I]  Mario Draghi reinforces dovish message on interest rate rises

[I]  China readies non-tariff weapons in US trade spat

[I]  EU prepares call to speed up plans for no-deal Brexit

[I]  US tax reform drains more dollars from global economy than Fed

 

REUTERS

[I]  U.S. quits U.N. human rights body, citing bias vs Israel, alarming critics

[I]   Japan's business mood mixed, underlines fragile recovery: Reuters Tankan

[I]  New head of FDIC plans to review financial health rating system

[I]  Trump says he would back both U.S. House immigration bills as separation crisis grows

[I]  Australia's Telstra slashes jobs as 'tipping point' forces strategic reset

[I]  Mexico calls migrant children separation 'inhumane,' 'racist'

[I]  Reserve Bank of India to raise key rates again by year-end

[I]  Indian government open to consider RBI demand for more powers - finance minister

 

BLOOMBERG 

[I]  Chinese Stocks Extend Slump as Authorities Appeal for Calm

[I]  Iran Rejects Compromise as OPEC Heads for Battle in Vienna

[I]  Australian Dollar May Drop to 70 Cents This Year: BlackRock

[I]  How Canadian Investors Can Seek Shelter From the Trade War

[I]  High-Flying Tech Stocks Are Being Dragged Down With Market

[I]  Bond Traders Get Ready for Yield-Curve Inversion as Soon as Next Week

[I]  U.S. Stock Bulls Refuse to Listen to the Warnings to Bail

[I]  Market Correlations Like 2016 Suggest Dominoes Are Lining Up to Fall

[I]  A Tax Holiday Gives Malaysians More Reason Not to Fear Inflation

 

WALL STREET JOURNAL

[I]  White House Sees Edge in China Talks

[I]  New U.S. Report Blasts Chinese ‘Economic Aggression’

[I]  Trade Fight Hurts China’s Campaign to Contain Debt

[I]  Risk of Chinese Currency Devaluation Rises

[I]  U.S. Working on Measures to Protect Farmers

[I]  Trump’s New Round of Tariffs Likely Will Hit Consumers Directly

[I]  Saudi Employers Pursue Elusive Saudi Workers

[I]  U.S. Housing Starts Rebound in May

[I]  Countries Face the Tricky Task of Undoing Negative Interest Rates

[I]  Strange Bedfellows: Trump Trade Fight Brings Japan and China Closer

 

BUSINESS LINE

[I]  PSBs to team up to bolster consortium lending

[I]  One country, one GST, lots of confusion

[I]  Centre grounds AI divestment

[I]  India finalising retaliatory duties on US imports to ensure impact

[I]  Japan overtakes China, US in investing in Indian start-ups

[I]  India flags off first ever census of healthcare facilities

[I]  Delayed rain hits sowing in Gujarat

 

ECONOMIC TIMES

[I]  Oil set to become more volatile; key Opec meet holds the aces

[I]  Renewed US-China trade spat boosts safety demand for yen

[I]  Why government needs to start liberalisation of the agriculture sector now

[I]  Why Intellectual Property Rights as security for loans is correct in legal terms

[I]  India requests US to maintain GSP beneficiary status

[I]  Government boost to manufacturers, eases import of used machinery

[I]  India committed to broad-based trade agreement with EU: President Kovind

[I]  India sees 20% rise in $ millionaires, despite GST impact

[I]  What India needs to do to keep its AI ambition running

[I]  Brazil, India corporate debt most vulnerable to rate hikes: Report

[I]  Government open to giving more powers to RBI: FM Piyush Goyal

 

BUSINESS STANDARD

[I]  Retail NBFCs outdo private banks in profits as lending picks up pace

[I]  PSBs to focus on credit needs of 'genuine' companies, says Piyush Goyal

[I]  Probe into 80,000 shell firms hits dead end as govt fails to trace PANs

[I]  Infra, realty firms face refinancing test of Rs 3-4 trillion: Ind-Ra

[I]  Tariffs, policy ambiguities blocking India's road to green future

[I]  CAD at 2.5% of GDP not a worry, govt geared to deal with outlows: FinMin

[I]  Just around 25% of India's workforce is female, says McKinsey report

 

MARKETS (8:00 am)

[I]  SGX NIFTY Fut: 10723;  USDINR DGCX: 68.1425;  DJIA Mini: 24723;  FTSE 100 Fut: 7567;  NIKKEI 225 Fut: 22287;  EUR-USD: 1.1581; Crude Oil (WTI): 65.36;  Gold (Spot): 1274          

Best Regards, ARBIND

20 Jun 2018