MACRO ECONOMIC NEWS

WISHING THE WEEK BE FULL OF PRAISE AND GLORY

Macro Economic News 11 Jun 2018

 

The G-7 becomes the G-6 after President Donald Trump proposed to return it to the G-8, Trump and Kim Jong Un prepare for their tete-a-tete in Singapore, and Xi Jinping gets another stage to sell his win-win agenda. Swiss voters overwhelmingly rejected an innovative proposal to rein in financial risks that had got increasing attention from economists and market strategists in recent weeks. The idea, known as Vollgeld in German, would have ended the practice of fractional reserve banking, where banks keep only some deposits on hand to meet withdrawal demands, and lend out the rest. Shifting control of the money supply more directly to the central bank would make the financial system safer, proponents argued.

 

FINANCIAL TIMES

[I]  US relations with closest allies fall to new lows

[I]  Emerging markets await US and European Central Bank meetings

[I]  US plays down hopes from Trump-Kim nuclear summit

[I]  G7 left reeling after Trump’s last-minute reversal

[I]  Emmanuel Macron sows seeds of discontent with French farmers

[I]  Argentina’s economic turmoil leaves small businesses reeling

[I]  Italy euro exit is not on agenda, finance minister says

[I]  Rising oil prices put eurozone economy under strain

[I]  Small US banks are winners from deregulation, now they want more

 

REUTERS

[I]  Trump and North Korea's Kim in Singapore for historic Tuesday summit

[I]  U.S.-Canada row escalates, Europeans criticise Trump's G7 move

[I]  Malaysian PM Mahathir says growing countries need different trade protections

[I]  North Korea seen looking to China, not U.S., for help in any economic transformation

[I]  Yen ticks up, Canadian dollar dips after G7 trade fracas

[I]  U.S.-Canada spat escalates after tense G7, Europeans criticize Trump

[I]  EU will act against U.S. tariffs on steel, aluminum: Merkel

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

[I]  France, Germany still split on eurozone reforms, French official says        

 

BLOOMBERG 

[I]  Paris Beats London as Investor Pick for First Time in More Than a Decade

[I]  Emerging-Market Investors Await Fed as North Korea Meeting Looms

[I]  Brace for the World Economy’s Most Important Week of the Year

[I]  These Asian Markets Will Soon Have Lower Rates Than the Fed

[I]  Trump Is About to See If His North Korea Gamble Will Pay Off

[I]  How Big is North Korea’s Economy? Pick a Number, Any Number

[I]  Emerging-Market Investors Await Fed as North Korea Meeting Looms

 

WALL STREET JOURNAL

[I]  U.S.-Canada Tensions Rise After Fraught G-7 Summit

[I]  The Trade Wars of 2018: An Alternate History

[I]  Chinese, Russian Presidents Lead U.S. Criticism at Regional Summit

[I]  What Latest Health-Law Case Means for Insurance Markets

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

[I]  Global Economy Week Ahead: Fed, ECB and BOJ Meetings; China Business Activity

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

 

BUSINESS LINE

[I]  PSBs leave India Inc FY18 scorecard in red

[I]  The different dimensions to designing currency notes for visually impaired

[I]  Commerce Ministry working on mechanism to refund taxes paid by exporters under GST

[I]  Monsoon lags over East; IMD sees a weak phase till June 20

[I]  Comprehensive AMC is a composite part of supply and can be taxed, rules AAR

[I]  Ruckus Networks to work with many partners to cater to rising demand for Wi-Fi hotspots

 

ECONOMIC TIMES

[I]  How India's scientific minds can help desi startups compete on a global level

[I]  Reservation to stay till BJP is in power: Amit Shah

[I]  Education system: Are we running out of time?

[I]  Total loss of public sector banks topped Rs 87,000 crore in FY18

[I]  India Inc raises Rs 67,200 crore via QIP in FY18

[I]  Equity mutual funds log Rs 24,479 crore inflow in April-May

[I]  Violence costs India's GDP over $1 trillion on PPP basis, per person cost at Rs 40,000

[I]  Currency with public doubles from demonetisation low; hits record at over Rs 18 lakh crore

[I]  India considering to bring together 8-10 WTO members to work on future agenda

[I]  Ayushman Bharat: States may combine their health cover schemes with centre's

 

BUSINESS STANDARD

[I]  Keeping a watchful eye: RoC to register passport details of India Inc brass

[I]  Import of medical devices from US on the rise; here's all you need to know

[I]  AAR ruling: GST will apply to goods carried by foreign-bound ships

[I]  Coffee export likely to take 10-15% hit on poor production

[I]  Govt takes first step on lateral hiring, officers get into a huddle

[I]  India's gold import is likely to fall at least 15% in 2018

[I]  Cracking 'bad bank' tough nut, but it's not impossible, say experts

[I]  Monsoon effect: Farm input companies seen improving performance

 

MARKETS (7:45 am)

[I]  SGX NIFTY Fut: 10769;  USDINR DGCX: 67.6500;  DJIA Mini: 25314;  FTSE 100 Fut: 7691;  NIKKEI 225 Fut: 22756;  EUR-USD: 1.1799; Crude Oil (WTI): 65.65;  Gold (Spot): 1302          

Best Regards, ARBIND

11 Jun 2018