MACRO ECONOMIC NEWS

WISHING THIS WEEKEND BE FULL OF ADVENTURE THROUGH RAIN

Macro Economic News 09 Jun 2018

 

Trump to leave G-7 early to meet Kim, discussions on a Deutsche Bank–Commerzbank deal, and emerging-market woes continue. The bad times continue for emerging-market currencies. South Africa’s rand breaching 13 to the dollar for the first time since December as investors bet weak growth will not allow the country’s central bank to follow EM peers in hiking rates. In Brazil, the real saw more declines yesterday with the selloff increasing pressure on policy makers to do more to support the currency. There was some good news for Argentina, which secured a $50 billion stand-by arrangement from the International Monetary Fund to help restore investor confidence.

 

FINANCIAL TIMES

[I]  Donald Trump calls on G7 to readmit Russia as he lashes out at allies

[I]  Economists reject Trump claims of unfair trade system

[I]  China and Japan open hotline to prevent military clash

[I]  Argentine investors welcome $50bn IMF rescue deal

[I]  Veterans of bloody Korean conflict await peace treaty

[I]  Media crackdown heightens fears for Pakistan’s democracy

[I]  UN sanctions target alleged Libya people traffickers

[I]  Recruiters look abroad to offset Brexit jitters

 

REUTERS

[I]  India mulls company to deal with banks' stressed assets

[I]  For high-stakes summit with Kim, Trump trusts his gut over note cards

[I]  U.S., EU take small step on trade, but no breakthrough at G7 summit

[I]  Take Five: World markets themes for the week ahead

[I]  France's Macron sees way forward on trade, Trump says working together

[I]  EU Commission head offers joint EU-U.S. trade assessment in tariff dispute

[I]  Global Economy: Fed, ECB to tighten policy in tandem

 

BLOOMBERG 

[I]  Hedge Funds Back Off Oil as Saudis Keep Market on Its Toes

[I]  Brazil Central Bank Finally Halts Its Currency's Plunge – For Now

[I]  Handful of U.S. Stocks Saw Split-Second Spikes Before Reversing

[I]  Money Markets See Biggest Inflows Since 2013 in Run for Cash

[I]  You Don’t Have to Own Crypto to Make Money Off of It

[I]  World’s Big-Three Central Banks to Meet With Different Agendas

[I]  German Industry’s Bad News Just Keeps Coming

[I]  This Week in EM: Brazil Boosts Currency Defense, While India and Turkey Hike Rates

 

WALL STREET JOURNAL

[I]  Most Forecasters See Modest Growth Boost From Bank-Regulation Rollback

[I]  WSJ Survey: Fed Will Move to Rein In the Economy

[I]  China’s Trade Surplus Narrows—but Not With the U.S.

[I]  ‘Get Moving’: How Trump Ratcheted Up the China Trade Feud

[I]  Trump Feuds With France, Canada Before Summit

[I]  Was the Gig Economy Overblown?

[I]  Why U.S. Prime-Age Workforce Participation Lags Behind Other Nations

[I]  Real Time Economics: The Gig Economy is a Dud; the G-7 Might See Fireworks

 

BUSINESS LINE

[I]  Bankers’ panel to study setting up of reconstruction firm for NPA clean-up

[I]  Groundwater in 16 States found to be contaminated by uranium

[I]  ‘Rising healthcare costs push 5.5 crore Indians below poverty line’

[I]  Black money: 2.25 lakh more shell firms to be de-registered

[I]  FDI inflow increased to $61.96 b in 2017-18

[I]  With Finance Ministry not on board, KUSUM solar pump scheme a non-starter

[I]  Council to discuss bringing natural gas under GST

[I]  Timely rain brews good prospects for coffee crop

[I]  Insolvency regulator IBBI moves to empanel resolution professionals

[I]  Maharashtra set to rope in 500 fintech firms to boost finance, banking sectors

 

ECONOMIC TIMES

[I]  Forex reserve falls by $0.59 billion to $412.23 billion

[I]  Australia, New Zealand dollars ease but set for weekly gains

[I]  What triggered bond yield crossing 8% mark since Dec 2014

[I]  Domestic cotton crop output is expected to moderate to 35 million bales in Cotton Year 2019

[I]  Economic growth may cross 8% in next 2 years: Suresh Prabhu

[I]  Priority sector lending limit hike may boost sale of budget homes

[I]  PSU banks to set up mechanism to tackle NPA, says Piyush Goyal

[I]  FDI violation complaints are forwarded to RBI, ED: Suresh Prabhu

[I]  India must address banking sector crisis to support investment, inclusive growth agenda: IMF

[I]  Rationalisation of GST on the cards: MoS finance

 

BUSINESS STANDARD

[I]  CCI may soon lose adjudicating powers, authority to pass orders & penalise

[I]  Google pledges not to use AI for weapons, surveillance

[I]  RBI policy impact: 10-year gilt yield crosses 8%, rupee falls

[I]  Banks fund agricultural technology companies for rural lending

[I]  FII lobby sets out best practices to prevent money laundering

[I]  MF equity flows below one-year average for third straight month

[I]  Draft bill proposes steep Rs 10-mn fine, 3-year jail for privacy violations

[I]  G7 leaders divided on trade; Trump attacks EU, Canada amid backlash

[I]  Little impact of Trump's tariff barrier on China's trade surplus

Best Regards, ARBIND

09 Jun 2018