MACRO ECONOMIC NEWS

WISHING YOU A GLORIFIED DAY AHEAD

Macro Economic News 08 Jun 2018

 

Treasury yields  spiked lower Thursday amid a rout in emerging markets, with Brazil’s real tumbling in a third day of sharp declines. President Donald Trump said he may sign an accord to formally end the Korean War with North Korean leader Kim Jong Un at their June 12 meeting, and raised the possibility of later hosting Kim at the White House.  China’s efforts to connect the world’s third-biggest bond market with the international financial system are hitting dual headwinds -- a climb in global borrowing costs, and the country’s own campaign to reduce financial leverage. The dynamics have contributed to defaults by 12 bond issuers in 2018.

 

FINANCIAL TIMES

[I]  Turkey raises interest rates to stabilise lira ahead of polls

[I]  Political uncertainty drives Brazilian real to 2-year lows

[I]  EU opens door to UK participation in €100bn research programme

[I]  Ukraine approves corruption court to meet IMF demand

[I]  Trade tension and rising rates hit Asian investment banking fees

 

REUTERS

[I]  Trump attacks EU and Canada on trade amid backlash ahead of G7 summit

[I]  U.S. pork exports the lead farm risk in trade disputes: official

[I]  Australia's planned foreign interference laws softened, but seen further straining China ties

[I]  Oil prices rise on ongoing Venezuelan supply trouble

[I]  Argentina clinches $50 billion IMF financing deal, to speed up cuts

[I]  BoE to raise rates in August so long as economy over its slump

[I]  Revised data shows Japan's economy still at risk of recession

[I]  Jordan's next PM says to withdraw tax bill

 

BLOOMBERG 

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

[I]  Firms Look to Robots, AI to Plug U.K. Skilled Worker Shortages

[I]  Argentina Secures $50 Billion in IMF Backing to Bolster Economy

[I]  Brazil Joins Turkey With Stepped-Up Currency Defenses

[I]  China's $11 Trillion Bond Market Tested by Rising Defaults

[I]  Hot U.S. Economic Growth Is Burning Companies That Can't Keep Up

[I]  A Guide to China’s $10 Trillion Shadow-Banking Maze

[I]  Thailand Says It May Skirt Global Monetary Tightening Until 2019

 

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]  Trump Feuds With France, Canada Before Summit

[I]  U.S. Jobless Claims Fell Last Week

[I]  Lawmakers Take Aim at Chinese Tech Firms

[I]  Americans’ Wealth Surpasses $100 Trillion

 

BUSINESS LINE

[I]  Targets for ethanol-blended petrol may be missed again

[I]  Digital transactions up for some banks...

[I]  Stimulus does not address structural problems of sugar sector: Crisil

[I]  Auditing regulator NFRA likely by Sept

[I]  FinMin mulls ways to boost biz correspondent network

[I]  Bank recap insufficient for credit growth: Moody’s

 

ECONOMIC TIMES

[I]  India, Iran to begin trade talks as US sanctions loom

[I]  Three looming crises that may rattle the oil market

[I]  Euro recovers on rising bets ECB may roll back stimulus

[I]  RBI's tightens rules around state bond valuations in blow to banks

[I]  India’s 10-year yield at 3-year high; will it harden more?

[I]  As US sanctions loom, India and Iran to begin trade talks

[I]  Labour Ministry puts on hold quarterly jobs survey

[I]  RBI amends Gold Monetisation Scheme to make it more attractive

[I]  FM Goyal to meet state-run banks' heads tomorrow to discuss merger: Reports

[I]  Businesses not Under GST to get 180 Days to pay back their loans

[I]  Global FDI Inflows fell 23% in 2017: Report

 

BUSINESS STANDARD

[I]  Finance Ministry pulls up officers of I-T department for poor GST mop-up

[I]  Petrol, diesel to be under GST soon, says Dharmendra Pradhan

[I]  RBI monetary policy: Finance Ministry says MTM losses for banks will rise

[I]  RBI policy: Extra haircut on rated bonds to put poorly run states in a spot

[I]  Monetary policy review: No takers for RBI's move on small finance banks

 

MARKETS (8:30 am)

[I]  SGX NIFTY Fut: 10709;  USDINR DGCX: 67.5575;  DJIA Mini: 25282;  FTSE 100 Fut: 7684;  NIKKEI 225 Fut: 22800;  EUR-USD: 1.1799; Crude Oil (WTI): 66.05;  Gold (Spot): 1296          

Best Regards, ARBIND

08 Jun 2018