MACRO ECONOMIC NEWS

WISH THIS WEEKEND BE A CELEBRATION OF PEACE, LOVE, AFFECTION AND JOY

Macro Economic News 16 Jun 2018

 

While Americans are spending like mad again, President Donald Trump has approved tariffs on Chinese goods worth about $50 billion and is reported that the U.S. is also preparing a second list of $100 billion of imports from China to rachet up the pressure on Beijing’s trade policies. Developing-market woes continue, with the Argentine peso at the center of the storm.The Turkish lira, Thai baht, Indian rupee are all under pressure.  European Central Bank sets end date for $3 trillion stimulus program. Following Fed tightening, and ECB tapering, the BOJ ended three days of major central-bank decisions by not doing very much at all. It left monetary policy unchanged, maintaining the settings on its yield-curve control program and asset purchases while cutting its inflation outlook. Russia’s central bank is due to announce its latest decision this morning.

 

FINANCIAL TIMES

[I]  China retaliates against US tariffs on $50bn of imports

[I]  Plan to publish full works of Marx is long tome in the making

[I]  US law firms revive bidding war for young talent

[I]  Beijing leans on lenders to back debt-hit HNA’s bond sale

[I]  Trump’s tariff strategy sharpens America First focus

[I]  Aquarius dispute shows EU leaders at sea over migration

[I]  Japan says it will run budget deficit until 2025 

[I]  White House sows confusion on immigration bill

[I]  Luxury goods makers confront rise of the robot

 

REUTERS

[I]  India faces worst long term water crisis in its history - government think tank

[I]  Wall Street builds immunity to trade war rhetoric

[I]  Authorities across Asia battle illegal gambling surge ahead of World Cup

[I]  U.S. warns Americans of terrorism threat at World Cup in Russia

[I]  U.S.-China trade fight leads stocks lower, oil sinks on supply fears

[I]  Arab forces seize entrances to airport in Yemen's main port city

[I]  Five questions on N.Korea and the science of denuclearisation

[I]  Trump tariffs a rounding error for U.S. economy so far, that may change

 

BLOOMBERG 

[I]  Hedge Funds Get Bullish on Oil Again as OPEC Prepares to Meet

[I]  A Greener Future Starts With Natural Gas, World Energy Chiefs Say

[I]  Trade Wars Are Hard to Define and Even Harder to End

[I]  Fed and ECB Inflict Fresh Blows on Currencies, Stocks

[I]  Hedge Funds Pick the Wrong Time to Go Big on Gold as Prices Drop

[I]  Hedge Funds Get Bullish on Oil Again as OPEC Prepares to Meet

[I]  Argentine Peso Resumes Plunge After Central Bank Shakeup

[I]  Oil Declines Ahead of Intra-OPEC Clash Over Pumping More

[I]  The EU Is Emerging as the New Sheriff for Global Financial Markets

[I]  Dudley Foresees Need for Fed Rate Hikes to Slow the U.S. Economy

[I]  U.S. Oil Exports, on the Rise to China, Face Threat of Trade Spat

 

WALL STREET JOURNAL

[I]  China Delivers on Retaliatory Tariffs as Trade Feud Heats Up

[I]  China Warns U.S. Firms in China: Buckle Up

[I]  Behind the Scenes at G-7 Meetings, Allies Dismayed by Trump’s Jabs

[I]  Economic Growth in U.S. Leaves World Behind

[I]  U.S. Retail Sales Soared in May

[I]  U.S. Industrial Production Unexpectedly Declined in May

[I]  U.S. Consumer Sentiment Rose in Early June

[I]  OECD Sounds Alarm Over ‘Broken Elevator’ for Social Mobility

[I]  Wage Growth Boosts ECB Confidence on Inflation Target

[I]  Bank of Japan Bucks Global Trend of Monetary Tightening

 

BUSINESS LINE

[I]  Govt moves to get global funds to invest in an ARC for banks

[I]  Numbed by numbers? There’s a cure for ‘maths anxiety’

[I]  Centre sets renewable purchase obligation for FY22 at 21%

[I]  States set to reap bonanza from GST

[I]  Monsoon priming for a second wind from South

[I]  CAD to be in 2-2.5% range this fiscal: CARE Ratings

 

ECONOMIC TIMES

[I]  Indian cities are burgeoning and this is what it needs to become smart

[I]  India, US may discuss visa issues, steel export tariffs

[I]  Heavy monsoon rains hit cardamom, tea crops

[I]  Forex reserve up by $0.88 billion at $413 billion

[I]  RBI introduces rupee interest rate options

[I]  Higher oil prices, GST may boost states revenue by Rs 37,400 crore in FY19

[I]  India to raise duty on 30 US goods

[I]  India, US may discuss visa issues, steel export tariffs

 

BUSINESS STANDARD

[I]  Investments in small savings schemes rise to Rs 1.55 trillion in 2017-18

[I]  India's exports hit 6-month high; trade deficit widens as imports up 14.85%

[I]  India proposes retaliatory tariffs worth $241 mn on 30 US products

[I]  Ayushman Bharat, farmers' income to figure prominently in NITI Aayog meet

[I]  Rice exports to decline by 10% on restrictions from importing countries

[I]  Reserve Bank of India relaxes norms for FPI investment in bonds

Best Regards, ARBIND

16 Jun 2018