MACRO ECONOMIC NEWS

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Macro Economic News 27 Jun 2018

 

President Donald Trump signaled Tuesday he may take a less confrontational path toward curbing Chinese investments in sensitive American technologies, potentially relying on a U.S. committee that scrutinizes foreign acquisitions for national security risks. A deepening sense of unease is rippling through China’s financial markets. The yuan is heading for its longest losing streak in four years in Hong Kong. Corporate defaults are mounting. There are homegrown reasons for the concern: the nation’s deleveraging campaign is reducing the amount of liquidity available and threatening growth. With the addition of China, the slump in emerging-market stocks has now pushed equity gauges worth a combined $8 trillion into bear markets.

 

FINANCIAL TIMES

[I]  US Supreme Court delivers Trump victory on travel ban

[I]  Investors losing faith in global economic upswing

[I]  US trade envoys arrive in India in bid to resolve trade tension

[I]  Germany ready to raise minimum wage by 4% in buoyant economy

[I]  Europe’s high-speed rail network ‘slow, expensive and ineffective’

[I]  Big miners loosen purse strings as cost-cuts pay off

 

REUTERS

[I]  India urges AIIB to increase loan book tenfold by 2020

[I]  China should take 'self-defense measures' in trade war: Global Times

[I]  Pence warns Central Americans to immigrate legally or not at all

[I]  States sue Trump over immigrant families as Congress quarrels

[I]  Indonesia on high alert as voting starts in regional elections

[I]  Trump trade chief vows to protect U.S. interests against EU tariffs

[I]  Britain is underestimating true size of EU divorce bill, say UK lawmakers

[I]  U.S. Congress struggles on immigration

 

BLOOMBERG 

[I]  Pizza, Beer Emerge Winners in India as World Cup Follows Cricket

[I]  Brexit Talks Deadline May Need to Be Extended, Tony Blair Says

[I]  London Is Dragging Down U.K. Productivity, Resolution Says

[I]  In the Age of Trump and Putin, Europe Faces Hard Choices on Gas

[I]  U.S. Trade Tensions Cast a Pall Over China's Tech IPO Bonanza

[I]  Trade War Hits Stocks as $8 Trillion in Bear Market: Inside EM

[I]  Cryptocurrency May Be Tool for Election Meddlers, Senators Told

[I]  Investors, Not Banks, Could Spark the Next Crisis

[I]  Crypto Collapse Spreads With Hundreds of Coins Plunging in Value

[I]  London Is Dragging Down U.K. Productivity, Resolution Says

 

WALL STREET JOURNAL

[I]  Trump Signals Easing of Demand for Tools to Limit Chinese Investment

[I]  Trade Rift Within White House Breaks Into the Open

[I]  CBO: Rising Interest Rates Would Increasingly Pressure U.S. Finances

[I]  U.S. Consumer Confidence Drops in June

[I]  Case-Shiller Home Price Index Loses a Bit of Steam

[I]  ECB Official Signals No Debate on Rate Rises Before October 2019

[I]  Student-Debt Forgiveness May Be Lighting a Tax-Bomb Fuse

[I]  New Home Sales Surge on Rising Purchases in the South

 

BUSINESS LINE

[I]  More than a fifth of all public sector bank loans can go bad, warns RBI

[I]  Empty space in trailers gives new shape to logistics

[I]  Concept of Rs. per GB will cease to exist: BSNL chief

[I]  Centre allocates buffer stock quota for sugar mills

[I]  Strong monsoon may ease by weekend: Australian Met

 

ECONOMIC TIMES

[I]  Opec output hike no clear trigger for crude, but volatility may rise

[I]  India may export 5 lakh tonne oilmeals to China post duty cut

[I]  China to cut import tariffs on soybean, other products from India, Asia-Pacific nations

[I]  For expats, Mumbai more expensive than Melbourne & Frankfurt: Survey

[I]  A big success of GST implementation is there has not been any inflation: Hasmukh Adhia

[I]  GST provisions on TDS/TCS, reverse charge mechanism deferred by 3 months

[I]  Government decides to discontinue overtime allowance for most employees

[I]  India is investor-friendly economy, has strong macro fundamentals: Modi at AIIB meet

[I]  PM Modi reiterates fiscal commitment in strong pitch to foreign investors

[I]  Centre committed to fiscal consolidation; India an investor-friendly economy: Modi at AIIB meet

[I]  A new approach to deal with stressed assets in making

 

BUSINESS STANDARD

[I]  Centre eases oil exploration norms, allows access outside contract areas

[I]  Bank NPA ratio to hit 12%, may reach highest level since 2000: RBI report

[I]  Farm debt waiver hits bank credit offtake, fans informal loan channels

[I]  GST impact: E-way bills not reducing transporters' cost and travel time

[I]  Govt notices to firms for 'wrongly' claiming transitional credit under GST

[I]  PSU banks more prone to frauds, says RBI's financial stability report

[I]  New EPFO rules: Now, withdraw 75% funds after 1 month of unemployment

[I]  Cost of living for expats: Mumbai costlier than Washington and Melbourne

 

MARKETS (8:00 am)

[I]  SGX NIFTY Fut: 10751;  USDINR DGCX: 68.3725;  DJIA Mini: 24263;  FTSE 100 Fut: 7498;  NIKKEI 225 Fut: 22257;  EUR-USD: 1.1656; Crude Oil (WTI): 70.74;  Gold (Spot): 1255          

Best Regards, ARBIND

27 Jun 2018