MACRO ECONOMIC NEWS

PEACE AND LOVE WILL GUARD HEARTS AND MINDS. GOOD MORNING.

Macro Economic News 18 Jul 2018

 

China’s options to support its economy go beyond simple monetary easing. Output in the second quarter slowed and factory activity cooled more than expected. Federal Reserve Chairman Jerome Powell told a Senate panel strong economic growth and stable inflation should keep the central bank on track to gradually raise short-term interest rates. The manufacturing sector staged a quick turnaround in June after a fire at a pickup-truck supplier knocked output lower in May, extending a solid run of growth for U.S. industrial activity. The leaders of Japan and the European Union signed a deal to create one of the world’s largest liberalized trade zones, in contrast to disputes between the U.S. and several of its trading partners.

 

FINANCIAL TIMES

[I]  Trump says he accepts evidence of Russian meddling

[I]  PE firms raise money at fastest pace since 2006

[I]  Japan and EU sign trade deal in move against protectionism

[I]  Fear of Trump summit backlash tempers Russian joy

[I]  Many Chinese consumers ready to boycott US goods in trade war

[I]  Spain’s new prime minister vows to raise taxes and spend more

[I]  Fall in renewable energy investment threatens climate goals

[I]  China closes a fifth of foreign university partnerships

 

REUTERS

[I]  SC urges separate laws against mob killings

[I]  Japan, EU sign free trade pact amid worries about Trump

[I]  Going, going gone for Australia's house price boom. And some investors smell trouble

[I]  Majority of Americans think Trump mishandling Russia: Reuters/Ipsos poll

[I]  UK companies' marketing budgets grow at second slowest rate in two years: survey

[I]  India prepared to impose 'safeguards' if steel imports rise: government source

[I]  Japan, EU sign free trade pact amid worries about Trump

[I]  BoE to play its hand in August; UK-EU to eventually cut a deal: Reuters poll

 

BLOOMBERG 

[I]  U.K.'s May Pays Price of Trust to Survive in Tory Brexit War

[I]  Trump or Cheap Iran Oil: Dilemma Facing Fastest Growing Oil User

[I]  Powell's ‘For Now’ Caveat a Sign Fed Rate Hikes Not on Autopilot

[I]  China Share Buyback Boom Aims to Help Sliding Equity Market

[I]  Casinos Face Last Milestone in Japan on Road to Legalization

[I]  Here's One Commodity That May Benefit From Trump's Trade War

[I]  Treasury Yield Curve Is Heading for Inversion, Fund Managers Say

[I]  Trump’s Trade War May Spark a Chinese Debt Crisis

 

WALL STREET JOURNAL

[I]  Powell Says Fed Should Keep Gradually Raising Interest Rates

[I]  Manufacturing Sector Hits a Sweet Spot

[I]  Without Better Training, U.S. Will Fall Short on Workers, Economists Say

[I]  Japan, EU Sign Trade Deal: ‘We Stand Together Against Protectionism’

[I]  Labor Department Removes Rule Forcing Employers to Disclose Anti-Union Talks

[I]  U.S. Seaborne Imports Surging as Retailers Stock Up Early

[I]  IMF Still Expects Global Economy to Grow 3.9% This Year

[I]  Strong Retail Sales in June Boosted Growth

 

BUSINESS LINE

[I]  Boost for textile sector with import duty on over 50 products doubled

[I]  Big IT companies are no longer high on job-seekers’ list

[I]  FinMin okays capital infusion of over Rs. 11,000 cr in five PSBs

[I]  18 Bills to be introduced during Monsoon Session

[I]  US becomes third-largest market for India’s cars

[I]  Trucks can now legally carry 20-25% more load

[I]  Centre to offer sops on milk product exports

[I]  Monsoon to stay strong for another week, says Met; heavy rain for Central India &West Coast

[I]  Govt bond yields may rise by 20bps: ICRA

 

ECONOMIC TIMES

[I]  Centre taking steps to boost milk producers income, says Nitin Gadkari

[I]  Cabinet committee to consider Rs 20/qtl hike in sugarcane price for 2018-19

[I]  WPI inflation likely to ease to 4.1 per cent in March 2019: Report

[I]  Very positive momentum against US sanctions on India: Advocacy group

[I]  US, India have complementary interests: Henry Kissinger

[I]  Government charts plan to stop loan defaulters from taking flight

[I]  Withdraw by August 20 appeals pending before tribunals/courts below threshold: CBDT

[I]  Importers petition withdrawn in customs bonded warehouse IGST case

[I]  View: When a regulator turns a Nelson’s eye to risk

 

BUSINESS STANDARD

[I]  After targeting over 200,000 shell firms, govt is trying to weed out LLPs

[I]  Realtors join fray in affordable housing segment, take the middle path

[I]  Big SUVs all set to displace smaller peers, to be new kings of road

[I]  Reviving supersonic passenger flights to harm environment, says study

[I]  GST Council likely to cut rates on handlooms, sanitary napkins on Saturday

[I]  Cineplex owners may move SC over subsuming of entertainment tax into GST

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11062;  USDINR DGCX: 68.4875;  DJIA Mini: 25136;  FTSE 100 Fut: 7603;  NIKKEI 225 Fut: 22917;  EUR-USD: 1.1659; Crude Oil (WTI): 67.72;  Gold (Spot): 1228          

Best Regards, ARBIND

18Jul 2018