MACRO ECONOMIC NEWS

BLESSED BE WITH THE BELIEF, LOVE AND CARE. GOOD MORNING.

Macro Economic News 20 Jul 2018

 

The yuan’s slide has traders on high alert, Trump takes a jab at the Fed’s interest-rate policy, and yield curves around the world are getting flatter. From the U.K. to Indonesia, flatter yield curves, adding to signs that escalating trade tensions are depressing expectations for economic growth and inflation. Now other central banks are tightening policy, and developing economies acting to support sliding currencies. The upshot is that short-term rates are rising faster than longer maturities in a slew of markets worldwide, a potential source of concern for officials wary of the recessionary signals that curve flattening sends.

 

FINANCIAL TIMES

[I]  Bank of England probed risks to KPMG’s viability after string of scandals

[I]  EU migration plan is unworkable, Czech PM warns

[I]  Trump sanctions bolster influence of Iran’s Revolutionary Guards

[I]  Europe steps up preparations for no deal Brexit

[I]  Poland rushes through judicial reform to avoid EU action

[I]  China raises alarm over its dependency on imported chips

[I]  Asia’s shared-bike sector faces growth headwinds

 

REUTERS

[I]  India approves bill to prosecute fugitive tycoons

[I]  Bank of Japan's inflation target dims as prices barely budge

[I]  Bank of Japan's inflation target dims as prices barely budge

[I]  Dollar on defensive against yen, euro after Trump comments

[I]  Visiting Northern Irish border, PM May to defend her Brexit plan

[I]  Palestinians in Jerusalem demolish own homes rather than see Israelis move in

[I]  Bank of Japan's inflation target dims as prices barely budge

[I]  UK's new Brexit envoy optimistic, as EU warns of Brexit crash

[I]  No-deal Brexit would cost European Union 1.5 percent of GDP - IMF

 

BLOOMBERG 

[I]  Trump Slams Fed Hikes, Car Tariff Warning, Yuan Tumbles: Eco Day

[I]  Global Economy Lives on the Edge as Crisis Veterans Sound Alarms

[I]  Saudis Pump More Oil to Please Trump, Then Doubt If It's Needed

[I]  Yuan Nears `PBOC Put' Level That Could Help Markets, Nomura Says

[I]  No End in Sight for Commodity Crash With Charts Sending Bear Signals

[I]  Curve Flattening Goes Global as U.K. to India Follow Treasuries

[I]  China's P2P Platform Failures Surge as Panic Spreads in Market

[I]  Powell Hints at New Read on Labor Force Justifying Gradual Hikes

 

WALL STREET JOURNAL

[I]  America’s Factory Towns, Once Solidly Blue, Are Now a GOP Haven

[I]  U.S. to Toughen Foreign-Investment Reviews Amid Trade Fight With China

[I]  U.S. Jobless Claims Hit Lowest Level Since 1969

[I]  U.S. Leading Economic Indicators Rose in June

[I]  Housing Market Stumbles at the Beginning of Summer

[I]  Manufacturing Sector Hits a Sweet Spot

[I]  Following the Fed, Central Banks Are Ready to Raise Rates

[I]  House GOP Push to Extend Tax Cuts Meets Resistance in Senate

[I]  Ross: ‘Too Early to Say’ Whether National-Security Probe Will Bring Auto Tariffs

[I]  Companies Commit to Job Training in White House Initiative

 

BUSINESS LINE

[I]  Govt takes first step to halt cheat-and-scoot

[I]  Only with consent: TRAI relief for mobile subscribers from pesky calls, spam messages

[I]  Monsoon discounts may dampen margins for domestic carriers

[I]  FRDI Bill fiasco: More caution needed in policy-making

[I]  Govt, bankers discuss stressed assets in realty, problems of buyers

 

ECONOMIC TIMES

[I]  Political volatility at home, selloff in EM currencies push rupee to new low

[I]  June quarter current account deficit seen rising to 2.5% of GDP: Icra

[I]  Ahead of China, India to remain fastest growing economy in FY19 & FY20: ADB

[I]  US to hand over 'problem-list' in the hope to avoid trade war with India

[I]  US faces retaliatory tariffs from India, China and others: Congressman

[I]  PM Narendra Modi's great road trip hits a debt pothole

[I]  Banks promise Rs 1.30 lakh crore for highway development: Nitin Gadkari

[I]  Govt, stakeholders discuss ways to boost real estate sector

 

BUSINESS STANDARD

[I]  In a global trade war, India's steel companies are better placed

[I]  Army shutting down high-tech project in bid to save Rs 30 billion cost

[I]  Milk price hike: Dairy sector crisis seems over for now but will fester

[I]  Gold demand to be positive in second half of 2018, says WGC report

[I]  Govt, developers and bankers discuss problems in the realty sector

[I]  Trai notifies new rules to check pesky calls and spam messages

[I]  PM interacts with beneficiaries of rural electrification, targets Congress

[I]  Mid-year economic review set to make a comeback, maybe out in December

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 10961;  USDINR DGCX: 69.1700;  DJIA Mini: 24979;  FTSE 100 Fut: 7616;  NIKKEI 225 Fut: 22652;  EUR-USD: 1.1650; Crude Oil (WTI): 69.52;  Gold (Spot): 1218          

Best Regards, ARBIND

20 Jul 2018