MACRO ECONOMIC NEWS

WISHING THE DAY BE FULL OF ELATION AND DELIGHT

Macro Economic News 15 Jun 2018

 

Trump approves tariffs on $50 billion of Chinese goods, the ECB announces an end to bond buying, and the BOJ is likely to stay the course. Mario Draghi said the euro-area economy is strong enough to overcome increased risk, justifying the European Central Bank’s decision to halt bond purchases and close an extraordinary chapter in a decade-long struggle with financial crises and recession. Policymakers will phase out the economic stimulus by the end of the year. China’s economy is suddenly falling short of expectations. May data for industrial output, retail sales and investment all came in beneath economists’ forecasts.

 

FINANCIAL TIMES

[I]  ECB to phase out €2.4tn bond-buying programme by year end

[I]  Merkel faces growing row with sister party over immigrants

[I]  IMF puts itself at odds with Trump over US growth

[I]  US retail sales post biggest gain in six months

[I]  Italy threatens to scupper EU’s trade deal with Canada

[I]  Russia raises retirement age to boost state budget

[I]  China poses ultimate test of Trump’s rationality

 

REUTERS

[I]  Demand for foreign workers may soften Japan's immigration rules

[I]  Oil holds a narrow range as OPEC meeting looms

[I]  Dollar soars and Wall Street gains as ECB holds off on rate hikes

[I]  Trump's tariffs pose risk to global trade, U.S. economy: IMF

[I]  France orders tobacco industry: stub out cigarette butt pollution

[I]  Canada says agreed with U.S. to keep NAFTA alive, no talks set

 

BLOOMBERG 

[I]  Argentina Names New Central Bank Chief as Peso's Plummet Worsens

[I]  Argentina Got a $50 Billion Loan and Peso Is in Free Fall Anyway

[I]  Trump Approves Tariffs on $50 Billion of Chinese Goods

[I]  China's Debt Crackdown Helps Revive Flagging Dim Sum Bond Market

[I]  China’s Evolving Toolkit to Manage Monetary Policy

[I]  U.S. Fiscal Stimulus Raising Risks to Global Economy: IMF

[I]  Largest Industrialized Countries March Toward Renewables

 

WALL STREET JOURNAL

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

[I]  U.S. Retail Sales Soared in May

[I]  IMF Sees U.S. Potential Growth at Half the Pace of White House Estimates

[I]  What Will the Fed Do With an Overshoot?

[I]  Fed Raises Rates, Sets Stage for Two More Increases in 2018

[I]  ECB to End Bond-Buying Program in December

[I]  U.S. Protectionist Stance Spooks Germany’s Economy

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

[I]  Nafta Talks Will Extend Into Summer, Canadian Official Says

 

BUSINESS LINE

[I]  NITI Aayog sees India headed for an aqua-calypse

[I]  Norms for EVs, alternative-fuel vehicles coming soon

[I]  At a meeting with envoys from OPEC nations, Pradhan stresses on responsible crude pricing

[I]  20 States on board to implement Ayushman Bharat

[I]  Indian Brands look to cash in on football frenzy

[I]  Monsoon takes a break, but basic features intact

[I]  Currency, bond markets take a hawkish Fed in their stride

[I]  Premium of non-life insurance companies rises 10% in May

 

ECONOMIC TIMES

[I]  India suffering worst water crisis: Niti report

[I]  Time to taper? Euro zone bond markets brace for ECB shift

[I]  Banks propose private placement of gilts to soften bond yields

[I]  Indian cotton production likely to rise 8.1% to 373 lakh bales this year

[I]  Cotton exports likely to jump 43% in 2018-19

[I]  Another crude shock! WPI inflation hits 14-month high on costlier fuel

[I]  Government extends sale of pre-GST goods with stickers of revised price till July 31

[I]  Financial Stability panel discusses insolvency resolution process

[I]  Homebuyers, be careful, bankruptcy stops short of empowering you fully

 

BUSINESS STANDARD

[I]  Anti-profiteering body in talks with FMCG firms over GST rate cut benefits

[I]  Sebi may propose removal of shareholding cap for setting up new bourses

[I]  Steel units seek easier norms for expeditious auction of mineral blocks

[I]  20 states sign MoU with govt to implement National Health Insurance scheme

[I]  Gold discounts widest in 9-month as higher prices tempered retail purchases

 

MARKETS (8:15 am)

[I]  SGX NIFTY Fut: 10790;  USDINR DGCX: 67.9300;  DJIA Mini: 25196;  FTSE 100 Fut: 7779;  NIKKEI 225 Fut: 22828;  EUR-USD: 1.1565; Crude Oil (WTI): 66.95;  Gold (Spot): 1302          

Best Regards, ARBIND

15 Jun 2018