MACRO ECONOMIC NEWS

WISHING THE DAY BE FULL OF CARE AND CONFIDENCE

Macro Economic News 14 Jun 2018

 

Federal Reserve officials raised interest rates for the second time this year and upgraded their forecast to four increases in 2018, as the unemployment rate falls and inflation rises. Trump offers a warning on China trade tensions, and the Bitcoin bloodbath continues. Bitcoin extended its losses, bringing its four-session slide to as much as 20 percent as questions mount about whether the world’s biggest cryptocurrency was manipulated during last year’s record price surge.

 

FINANCIAL TIMES

[I]  Fed lifts rates and projects four rises for 2018

[I]  US, Canada and Mexico win joint bid to host 2026 World Cup

[I]  France starts asset sales to boost state finances

[I]  Asian leaders signal greater engagement with North Korea

[I]  World Cup carnival exposes limits of western sanctions on Russia

[I]  ECB on course to begin QE exit plan despite headwinds

[I]  Saudi-led coalition launches offensive on prized Yemen port

[I]  Theresa May plans Brexit bill amendment after Commons rebellion

[I]  Greece fast-tracks reform package to unlock final bailout funds

 

REUTERS

[I]  Airlines spread wings to escape airfare war at home

[I]  Trump says summit removed North Korean nuclear threat, but Democrats doubtful

[I]  Japan eying Abe-Kim summit with possible Pyongyang visit: paper

[I]  UK housing market still weak despite sign of more sellers: RICS

[I]  Brexit laws: What's changed and what happens next

[I]  Gasoline leads broad increase in U.S. producer inflation

 

BLOOMBERG 

[I]  Canada Warns U.S. Against `Mano-a-Mano' Mantra on Foreign Policy

[I]  U.A.E. Introduces New Visa, Foreign Workers' Plan, WAM Reports

[I]  Hong Kong's Fed-Pacing Rate Hike Signals Reckoning Still to Come

[I]  U.K. Housing Market Is Stuck in the Doldrums

[I]  ‘Plain English’ Powell Praises U.S. Economy After Rate Hike

[I]  Trump Says He May Upset China on Trade as U.S. Tariffs Loom

[I]  Bitcoin Extends Its Collapse

[I]  ETF Investors Are Preparing for an Economic Slowdown

[I]  ‘50 Cent’ Volatility Buyer Is Back With Bet VIX Will Double

[I]  Treasuries Curve Reaches Flattest Since 2007 on Steeper Fed Path

[I]  Half of the World's Too Big to Fail Banks Are in a Bear Market

[I]  Vietnam Must Tread Carefully to Win Investment Grade, Fitch Says

[I]  World Bank Says It May Raise Thai Economic Growth Forecast

 

WALL STREET JOURNAL

[I]  Fed Raises Interest Rates, Sets Stage for Two More Increases This Year

[I]  Fed Adjusts How It Raises Short-Term Rates

[I]  Borrowing Costs Climb Along With Fed Rate Increases

[I]  U.S. Preparing to Proceed With Tariffs on Chinese Goods

[I]  Rising Business Prices Point to Trend in Firming Inflation

[I]  Eurozone Industrial Production Continues to Falter

[I]  Demolishing Monopoly From Below: How Two Radicals Would Remake Markets

[I]  Consumer Prices Post Largest Annual Growth in More Than Six Years

[I]  Diverging Fortunes in U.S. and Europe Signal Widening Interest-Rate Gap

[I]  U.S. Budget Deficit Widens 23% on Weak Revenue Growth

 

BUSINESS LINE

[I]  Housing for all: Now, carpet area up to 2,100 sq ft is eligible for interest subsidy under PMAY

[I]  KYC norms: Telcos told to replace Aadhaar with VID

[I]  UK car industry faces threat of post-Brexit ‘extinction’

[I]  Cabinet okays proposal to introduce Dam Safety Bill in monsoon session

[I]  To combat online crimes, govt to launch more cyber-security labs

[I]  TRAI’s broadband-via-public Wi-Fi network initiative panned by operators’ association

[I]  Despite ban, crypto-exchanges finding new ways to coin business

 

ECONOMIC TIMES

[I]  Yield surge may prompt India to cut sales of short-term debt

[I]  Maharashtra govt sets up Milk Price Stabilisation Fund for co-op dairies

[I]  Major plan to drive shrimp production up in country

[I]  CAD widens to 1.9% of GDP in Q4FY18

[I]  India has just a decade to become a developed nation: SBI study

[I]  CBDT proposes amendments to three IT forms, invites public suggestions

[I]  RBI official frowns on NBFCs' rising exposure to large companies

[I]  Final guidelines for ARC sponsors soon: RBI official

[I]  Tax axe over endorsement pacts: Dealers of imported sports goods under taxman’s lens

 

BUSINESS STANDARD

[I]  With rising awareness, carmakers see a surge in demand for airbags

[I]  Visa cuts fee on card transactions, industry says business as usual

[I]  Home loans may grow 17-19% in FY19 on affordability, govt push: Icra

[I]  Fitch ups India's growth forecast to 7.4% for FY19; crude remains a risk

[I]  The curious case of India's trade with 'Hermit Kingdom' North Korea

[I]  India's CAD triples to 1.9% in Q4 year-on-year, pegged at 1.6% in FY18

[I]  Fed hikes rates amid stronger inflation, shifts from crisis-era stance

 

MARKETS (7:15 am)

[I]  SGX NIFTY Fut: 10810;  USDINR DGCX: 67.6825;  DJIA Mini: 25248;  FTSE 100 Fut: 7694;  NIKKEI 225 Fut: 22888;  EUR-USD: 1.1797; Crude Oil (WTI): 66.72;  Gold (Spot): 1298          

Best Regards, ARBIND

14 Jun 2018