MACRO ECONOMIC NEWS

WISHING THE DAY BE FULL OF EXCITING MIRACLES AND ENJOYMENT

Macro Economic News 19 Jun 2018

 

U.S.-China trade-war tensions escalate. President Donald Trump has directed the U.S. Trade Representative to identify $200 billion worth of Chinese goods for additional tariffs at a rate of 10 percent. Trump said he was taking action because China “has no intention of changing its unfair practices related to the acquisition of American intellectual property and technology.” OPEC is discussing a relatively modest production increase before its meeting in Vienna this week. Former U.S. Treasury Secretary Lawrence Summers warned that developed countries are badly equipped for another recession, both economically and politically, and that central banks should be wary of raising interest rates just to stop inflation from running a little hot.

 

FINANCIAL TIMES

[I]  Trump turns his fire on Germany over immigration

[I]  China hopes countermoves will help prevent all-out trade war with US

[I]  Women’s struggle to gain altitude in aviation industry

[I]  Corruption thrives in a globalised world

[I]  A bad bout of Brexit cynicism infects Theresa May’s health plan

[I]  Australia’s pitiless migrant policy is no model for Europe

[I]  Macron and Merkel will struggle to show Europe a united front

 

REUTERS

[I]  As outrage grows over children, White House defends immigration policy

[I]  Indian mills slash sugar exports as local prices rally

[I]  U.S., South Korea agree to suspend joint military exercise

[I]  Brazil, India corporate debt most vulnerable to rate hikes - McKinsey

[I]  Australia's central bank more upbeat on growth, but still no rush on rates

[I]  China to ease foreign investment restrictions on several more sectors: paper

[I]  Beijing subway to get 'bio-ID' tracking systems - China Daily

[I]  Trump threatens to hit China with new tariffs on $200 billion in goods

[I]  China to ease foreign investment restrictions on several more sectors - paper

 

BLOOMBERG 

[I]  Fed's Williams Sees Rosy Economy, Bank Culture Still Needs Work

[I]  China's Struggling Stock Market Faces Hit From Tariff Tensions

[I]  Japan’s Central Bank Should Face Up to Zero-Price Growth, Ex-Official Says

[I]  An Investor's Guide to Managing Escalating Global Trade Tensions

[I]  Regulated Crypto Custody Is (Almost) Here. It’s a Game Changer

[I]  Top Philippine Stock Fund Holds On to Cash as Bear Market Nears

[I]  Lawmakers Want Inquiry Into U.S. Aluminum Price ‘Irregularities’

 

WALL STREET JOURNAL

[I]  Economic Confidence Rises Among Lower-Income Americans

[I]  Are the Tax Cuts Working? What to Watch in 12 Charts

[I]  Strange Bedfellows: Trump Trade Fight Brings Japan and China Closer

[I]  Japan Logs First Trade Deficit in Three Months

[I]  EU Pursues Trade Talks With Australia

[I]  Opposing Forces Push Trump on Nafta

[I]  Oil’s Rally, Coupled With Strong Dollar, Causes Global Pain

[I]  Behind the Scenes at G-7 Meetings, Allies Dismayed by Trump’s Jabs

[I]  Global Economy Week Ahead: U.S. Housing Starts, Brazil Rate Decision, Eurozone PMI

[I]  Jobless Youth Rattle European Politics

 

BUSINESS LINE

[I]  ‘Tax-GDP ratio must go up 1.5 percentage pts’

[I]  Expect 10% GDP growth by Q4 of this fiscal: Goyal

[I]  Truckers on strike to protest diesel price hike, dual taxation

[I]  Recharging Eveready: Company seeks to halve debt by selling land assets

[I]  India lags behind in development of smart cities: McKinsey report

[I]  Now, get a free meal if maintenance work delays your train on a Sunday

[I]  Vehicle-makers may spend Rs. 58,000 cr on capex over the next two years: Crisil

[I]  MFs see dip in AUM, outflow in May

[I]  Monsoon rain threatens output of plantation crops in the South

 

ECONOMIC TIMES

[I]  What stops the biggest bond buyer-EPFO

[I]  Govt bonds and call rates rise

[I]  Big Indian deals trip up on bankruptcy, regulations and shareholder activism

[I]  Rs 25000 crore refund pending claims pending for exporters: Amit Mitra

[I]  Government committed to meet fiscal deficit target of 3.3 per cent this year: Piyush Goyal

[I]  Govt asks exporters to comply with global standards to tap intl. markets

[I]  Double digit growth can happen by fourth quarter: Piyush Goyal

[I]  India’s subprime mortgage mania can quickly turn to panic

[I]  India set to join European Bank for Reconstruction and Development

 

BUSINESS STANDARD

[I]  Curbs on full PF withdrawal likely; move to create 'social security cover'

[I]  Over half of 2018 IPOs trading below issue price on expensive valuations

[I]  India's largest national data centre to come up in Bhopal

[I]  Double-digit growth seems a far cry, should be a long-term goal: Economists

[I]  Urban power reforms: Slow start, steady pace but looming deadline

[I]  Privacy law: Framework of Aadhaar divides Justice Srikrishna committee

[I]  Rising oil prices: Can't afford petro excise duty cut, says Arun Jaitley

[I]  Indian Railways does an airline, will offer free food to passengers

 

MARKETS (7:45 am)

[I]  SGX NIFTY Fut: 10732;  USDINR DGCX: 68.1350;  DJIA Mini: 24777;  FTSE 100 Fut: 7534;  NIKKEI 225 Fut: 22499;  EUR-USD: 1.1637; Crude Oil (WTI): 65.54;  Gold (Spot): 1283          

Best Regards, ARBIND

19 Jun 2018