MACRO ECONOMIC NEWS

WISHING THE DAY BE FULL OF HAPPINESS AND FUN

Macro Economic News 13 Jun 2018

 

Trump tries to convince the world his approach to North Korea is the right one. The biggest winner from Trump’s summit with North Korean leader Kim Jong Un, other than Kim, is the Chinese president, Xi Jinping. The Federal Reserve won’t steepen the path of interest-rate increases this year in the face of accelerating U.S. growth, according to economists surveyed by Bloomberg. Bitcoin’s collapse accelerates, renewing concern about the long-term viability of the alternative to traditional currencies.

 

FINANCIAL TIMES

[I]  Trump and Kim pledge new chapter for North Korea

[I]  Is the Federal Reserve set to retire its low-rates guidance?

[I]  Rising oil prices prompt fears of social unrest

[I]  Critics say US-North Korea summit deal leaves Kim the winner

[I]  Kim offers North Koreans vision of a wealthier future

[I]  Aspiring Mexican finance minister pours water on oil tenders

[I]  Japan set to loosen immigration rules for guest workers

[I]  Trendy Chinese restaurant chains gain appetite for IPOs

[I]  Winds of change blow through Europe’s power sector

[I]  Japan’s oldest companies ignore founding families at their peril

 

REUTERS

[I]  Trump in surprise summit move says he will halt Korea war games

[I]  Retail inflation accelerates to four-month high in May

[I]  U.S. House sets debate next week on 'Dreamer' immigration bills

[I]  North Korea frames summit with U.S. as a win, dubs it 'meeting of the century'

[I]  Economists split on 2019, 2020 BOJ tapering; Japan needs more innovation: Reuters poll

[I]  Italy sends migrant convoy to Spain, has words with France

[I]  Spend more at home, OECD tells Germany as investor mood darkens

[I]  Canada PM safe for now as Trump attacks, but angry farmers loom

 

BLOOMBERG 

[I]  PBOC Seen Mirroring Fed With Hike While Keeping Other Taps Open

[I]  Five Fed Mysteries, Korean Chasm, Argentina Sits at 40%: Eco Day

[I]  Bitcoin’s Collapse Accelerates, Falls to Lowest Since February

[I]  BRICs Inventor Says G-7 ‘Irrelevant’ Because China and India Are Left Out

[I]  U.S. Government Lowers Domestic, World 2019 Oil Output Forecasts

[I]  May Averts Brexit Revolt, But Her Rivals Also Claim Victory

[I]  PBOC Seen Mirroring Fed With Hike While Keeping Other Taps Open

[I]  U.K.'s May Scrambles for Brexit Compromise as Tory Tensions Rise

 

WALL STREET JOURNAL

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

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

[I]  Powell Looks at Following All Fed Meetings With a Press Conference

[I]  The Fed’s Biggest Dilemma: Is the Booming Job Market a Problem?

[I]  U.S.-Canada Rift Roils Nafta Talks

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

 

BUSINESS LINE

[I]  RBI again seeks more power to rein in PSBs

[I]  SEBI sets up expert panel for direct overseas listing

[I]  Higher retail inflation in May dampens cheer of industrial growth during April

[I]  Smaller e-commerce players struggle to stay relevant

[I]  India’s NPAs and the global scenario

[I]  Time to address the oilseed sector’s structural problems

[I]  Global warming will make veggies harder to find: Study

[I]  Centre plans amalgamation of RRBs at the State level

[I]  Banks lost Rs. 75,000 cr in frauds in 3 years: RBI to House panel

 

ECONOMIC TIMES

[I]  Trade risks are quite evident in markets if you look real hard

[I]  Gold imports may fall 18% in 2018 as price rise cuts demand

[I]  Rupee yet to turn the corner, but RBI may stick to basics

[I]  Spike in bond yield may pull down stocks' PE multiple

[I]  Cotton Association of India has increased 2017-18 cotton production estimate by 5 lakh bales

[I]  Projects worth Rs 1.85 lakh cr awarded under Sagarmala by March 2018

 

BUSINESS STANDARD

[I]  RBI's tighter norms for working capital would increase NPAs: India Inc

[I]  Brokerages ask Sebi for relaxing rules on basket investment plans

[I]  US margins under stress, Indian drug makers get booster dose in Europe

[I]  Zero tolerance: Brands take stock of hate speech and trolls

[I]  IBC Ordinance does not apply to commercial real estate buyers, says Shroff

[I]  Industry wants govt to move fast on draft defence infrastructure policy

[I]  Retail inflation jumps to 4-month high of 4.87% in May from 4.58% in April

[I]  Factory growth rises by 4.9% in April, up from 5-month low of 4.4% in March

 

MARKETS (8:30 am)

[I]  SGX NIFTY Fut: 10824;  USDINR DGCX: 67.7425;  DJIA Mini: 25364;  FTSE 100 Fut: 7701;  NIKKEI 225 Fut: 22935;  EUR-USD: 1.1746; Crude Oil (WTI): 65.98;  Gold (Spot): 1295          

Best Regards, ARBIND

13 Jun 2018