MACRO ECONOMIC NEWS

WISHING YOU CREATION OF VALUE VIA COMPASSIONATE CHARACTERISTICS

Macro Economic News 28 Jun 2018

 

White House chose a less confrontational approach on Chinese investments. Energy producers jumped as oil briefly topped $73 a barrel. The dollar advanced against all G-10 peers. Treasuries rallied on the trade angst, boosted by a solid five-year auction. The rout in emerging markets deepened as investors sifted through the latest remarks from the Trump administration on protectionist measures, with currencies slumping and stocks on pace for their worst quarter since September 2015.

A leaked report from a Chinese government-backed think tank has warned of a potential “financial panic” in the world’s second-largest economy, a sign that some members of the nation’s policy elite are growing concerned as market turbulence and trade tensions increase. Bond defaults, liquidity shortages and the recent plunge in financial markets pose particular dangers at a time of rising U.S. interest rates and a trade spat with Washington.

 

FINANCIAL TIMES

[I]  Trump drops new restrictions on China investments

[I]  Greece ready to sign deal with Merkel to take back asylum seekers

[I]  Deepening global trade war fails to stir gold investors

[I]  Reigning champions Germany laid low by a foot in the past

[I]  Conte takes hard line on EU economic and immigration policy

[I]  Democratic party looks for answers to New York primary shock

[I]  South Sudan warring rivals agree ceasefire in bid to end civil war

[I]  Private equity moves into the mainstream in Japan

[I]  Hedge funds push regulator to set higher Sky price

 

REUTERS

[I]  Westinghouse eyes Saudi, India deals as end to bankruptcy nears

[I]  Asian shares flirt with nine-month low on mounting trade war fears

[I]  Greece reaches deal with Germany's Merkel to take back asylum seekers: FT

[I]  Turkey slams 'hypocritical' EU report on accession talks

[I]  Germany optimistic about EU lifeline for Merkel

[I]  Saudis to hit oil record as Iran feels squeeze

[I]  Under pressure from populists, EU doubles down on curbing migration

[I]  European chip industry seeks more EU help to extend revival

[I]  Automakers warn U.S. tariffs will cost hundreds of thousands of jobs, hike prices

[I]  U.S. House backs tighter foreign investment rules amid China worries

[I]  Canada lobbies Big Three U.S. carmakers to fight auto tariffs

 

BLOOMBERG 

[I]  Japan’s Retail Sales Drop by Most in Nearly Two Years in May

[I]  Britain's Crown Estate Points to Challenging Property Market

[I]  U.K. Deems Heathrow Runway Compatible With Green Targets

[I]  Our Guide to What the World’s Top Central Banks Will Do Next

[I]  China Think Tank Warns of Potential ‘Financial Panic’ in Leaked Note

[I]  This Inverted Market Curve Is Already Causing Investors Pain

[I]  China's Sliding Yuan Is Bad News for These Companies

[I]  Emerging Markets on ‘Tenterhooks’ as Chinese Selloff Deepens

[I]  China Slowdown Deepens on Trade Tensions and Weak Credit Growth

 

WALL STREET JOURNAL

[I]  Trump Eases His Approach to Chinese Trade, Investments

[I]  Capital Account: As Trade Barriers Go Up, Global Supply Chains Unravel

[I]  Lawsuit Challenges Trump’s Authority to Impose Tariffs

[I]  That Noise You Hear? The Sound of Globalization Going Into Reverse

[I]  The Fed’s Latest Challenge: Keeping Benchmark Rate in Check

[I]  Bullard Warns on Going Too Far, Too Fast With Rate Increases

[I]  Demand for Business Equipment Cools

[I]  Supreme Court Deals Blow to Public-Sector Unions

[I]  As Treasury Targets Workarounds to Tax Law, Impact May Extend Far

[I]  U.S. Consumer Confidence Drops in June

[I]  BOE Warns of Growing Risks in Global Debt Markets

[I]  U.S. Signals Sanctions for All Imports of Iranian Oil

 

BUSINESS LINE

[I]  India, China demand reduction in rich nations’ harmful farm subsidies from 2019

[I]  Trade war, boiling oil, falling rupee sink small/mid-caps

[I]  India cautious on China move to reduce import tariffs on goods

[I]  Fintech firms come up with new-gen solutions for wide spectrum of users

[I]  Non-English net users in India will cross 530 m by 2021, says Google

[I]  Retail housing: Avoid dilution in credit standards, RBI warns banks

 

ECONOMIC TIMES

[I]  Modi government to go for complete UGC overhaul

[I]  ISRO readies to find nuclear fuel on Moon

[I]  Trade tensions roil money market, rupee hits 19-month low

[I]  Escalating trade war hits EM currencies

[I]  Govt bonds decline, call rates finish lower

[I]  China to reduce tariffs on 8,549 types of goods from India, 4 other Asian countries

[I]  US diplomat: India has high tariffs and needs to lower trade barriers

[I]  Government seeks clarity on cross-border data flows, localisation from e-commerce task force

[I]  FY19 monthly GST mop-up to be at Rs 1 lakh crore: Hasmukh Adhia

 

BUSINESS STANDARD

[I]  I-T to examine poll candidates' finances ahead of state, general elections

[I]  Private investment plans in India's strategic oil reserves get Cabinet nod

[I]  Here's how kharif planting gets a monsoon booster across the country

[I]  What exactly would be the kharif MSP of 2018-19 remains a big question

[I]  Why investors, not banks may play crucial role in next financial crisis

[I]  24.5% more consumers in retail lending, delinquency rates declined: CIBIL

[I]  How new technology is helping the Met department to make accurate forecasts

[I]  Internet security: Rising cyber threat in India

 

MARKETS (8:00 am)

[I]  SGX NIFTY Fut: 10665;  USDINR DGCX: 69.2425;  DJIA Mini: 24198;  FTSE 100 Fut: 7532;  NIKKEI 225 Fut: 22177;  EUR-USD: 1.1570; Crude Oil (WTI): 72.58;  Gold (Spot): 1253          

Best Regards, ARBIND

28 Jun 2018