MACRO ECONOMIC NEWS

WISH WE ALL GROW IN OUR OWN EYES WITH SELF ESTEEM, SELF VALUE AND SELF APPRECIATION. GOOD MORNING

Macro Economic News 21 Jun 2018

 

Central bankers have seen the future of trade friction and don’t like it, OPEC’s wheeling and dealing is in full swing, and Mnuchin sends Trump a signal. The BOJ’s Kuroda endorsed a Japanese government call for employers to raise wages by 3 percent a year, far faster than the current pace, to help the central bank meet its inflation target.

The world’s most powerful central bankers warned that escalating international trade tensions are spooking companies and threatening the global economic expansion. “Changes in trade policy could cause us to have to question the outlook,” Federal Reserve Chairman Jerome Powell said. “For the first time, we’re hearing about decisions to postpone investment, postpone hiring.” His sentiment was echoed by Bank of Japan Governor Haruhiko Kuroda, ECB President Mario Draghi and Reserve Bank of Australia Governor Philip Lowe. Those four central banks set monetary policy for more than a third of the world’s economy.

 

FINANCIAL TIMES

[I]  Economic scramble for North Korea picks up pace

[I]  Bill looms large for companies after post-crisis debt binge

[I]  Israel’s military struggles to battle party balloons

[I]  Hungary’s parliament passes hardline anti-migrant laws

[I]  US consumers poised for impact of Trump’s China tariffs

[I]  Theresa May snuffs out rebellion to win Brexit vote

[I]  US employers turn their backs on overseas MBA graduates

[I]  Trump forgets that US companies in China are doing a roaring trade

[I]  Payments crunch pushes Indian power producers to brink of default

 

REUTERS

[I]  Chief Economic Adviser Arvind Subramanian quits

[I]  RBI rate panel strikes balanced tone, awaits clarity for further move: minutes

[I]  China central bank expects banking system liquidity to rise further from current level

[I]  Oil prices drop as Iran signals support for OPEC output rise

[I]  Dollar buoyant near 11-month highs, shaky pound awaits BoE

[I]  UK set to publish plans for EU citizens post-Brexit

[I]  Euro zone to decide on Greek debt relief as bailout exit nears

[I]  Japan firms slow to get compliant with new EU data privacy rules - Reuters poll

[I]  Bank of England to keep rates steady, markets look for August hint

[I]  Short-sellers sense an opportunity as China trade tensions brew

 

BLOOMBERG 

[I]  Goldman Says Emerging Markets Are Flashing Green, Buy Local Debt

[I]  U.S. Sanctions on Iran Crude Stir Up a Corner of the Oil Market

[I]  U.S. Issues First Round of Products Excluded From Steel Tariffs

[I]  States Seek More Money to Secure Elections After Russian Meddling

[I]  Bank of Japan's Kuroda Says 3% Wage Gains Needed for Price Goal

[I]  Argentina Wins Upgrade to Emerging Status After Nine Years

[I]  BOE Seen Holding Rate for Now, Hiking Later: Decision Day Guide

 

WALL STREET JOURNAL

[I]  Central Bank Leaders Warn Trade Conflicts Could Damage Global Economy

[I]  German Auto Makers Back Scrapping EU-U.S. Car Import Tariffs

[I]  White House Sees Edge in China Talks

[I]  U.S. Turns From Uniter to Disrupter on Global Stage

[I]  Powell Says Solid Economy Supports More Fed Rate Rises

[I]  Spring Home Sale Season Shows Signs of a Bust

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

[I]  OECD Records First Drop in Immigration Since 2011

[I]  Saudi Employers Pursue Elusive Saudi Workers

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

 

BUSINESS LINE

[I]  Corporate loan growth signals business revival

[I]  Working on 4-pronged strategy to double farmers’ income: PM

[I]  E-way bill: Transporters can now use common enrolment number across multiple States

[I]  India in talks with China, Australia, New Zealand to crack mega trade deal

[I]  Cross-border insolvency: Centre seeks comments on draft policy by June-end

[I]  Govt opens up internet telephony to telcos

[I]  As rates rise, RBI buying brings some respite to bond market

 

ECONOMIC TIMES

[I]  Mumbai traffic police mulling odd-even parking

[I]  FIIs' 2018 net investment at $15 million, DIIs' at $7.9 billion

[I]  PE-backed IPOs outperform non-PE issues; 2017 best in terms of proceeds

[I]  ‘Healthy’ RITES offer right reasons to invest

[I]  Gold demand dull as equity returns better

[I]  Govt bonds firm up, call rates turn higher

[I]  Give subsidy of Rs 5/l on milk to farmers, demands farmer leader Shetti

[I]  Tamil Nadu sugarcane mills want rescheduling of loan payments

[I]  Inflation a major concern though output gap closed: RBIs' MPC

[I]  Economy could be disrupted if job growth not constant: Former NASSCOM chief

[I]  Advancing gender parity could contribute $770 billion to India’s GDP by 2025: McKinsey report

 

BUSINESS STANDARD

[I]  Investors shift focus to mobile payments, last mile payment firms

[I]  Firms shy away from providing WiFi at railway stations

[I]  Modi says govt wants to double farmers' income, skips contentious issues

[I]  CBDT proposes clear-cut timelines under transfer pricing

[I]  RBI moots legal entity identifier for bond, money markets by October end

[I]  28 companies announce buyback plans aggregating Rs 213 billion

[I]  Govt amends norms for full fledged internet telephony by telecom operators

 

MARKETS (8:30 am)

[I]  SGX NIFTY Fut: 10800;  USDINR DGCX: 68.1475;  DJIA Mini: 24764;  FTSE 100 Fut: 7610;  NIKKEI 225 Fut: 22734;  EUR-USD: 1.1566; Crude Oil (WTI): 65.68;  Gold (Spot): 1266          

Best Regards, ARBIND

21 Jun 2018