MACRO ECONOMIC NEWS

WISH, WE ALL EXPERIENCE OPEN DOORS OF THE LIFE. GOOD MORNING.

Macro Economic News 04 Jul 2018

 

From ZTE to Micron, it was a topsy-turvy day for U.S.-China trade relations. A Chinese court temporarily banned Micron Technology Inc. chip sales, cutting the U.S. company off from the world’s largest semiconductor market. China’s customs agency unexpectedly issued trade data that showed growth in exports to the U.S. slowing, though analysts dismissed the figures as part of Beijing’s messaging campaign in its tariff battle with Washington. American factory activity accelerated for the second straight month in June, signaling momentum in the U.S. manufacturing sector. With unemployment at historic lows, more companies are paying for interns they used to get for free, and sometimes relaxing standards, to ensure a pipeline of young talent.

 

FINANCIAL TIMES

[I]  A $1tn global trade war could yet come to pass

[I]  Saudi Arabia’s next oil move in spotlight after Trump call

[I]  EU weighs international talks on cutting car tariffs

[I]  German peace deal leaves Merkel’s authority dented

[I]  US companies turn to felons to fill labour shortages

[I]  Slower growth prompts Italy to rule out deficit reduction

[I]  Japan’s long-hours culture is changing regardless of Abe’s bill

[I]  Derivatives contracts at risk of severe disruption

 

REUTERS

[I]  Japan June services PMI shows pick-up in activity

[I]  China services sector grows at fastest pace in 4 months in June - Caixin PMI

[I]  Australian corporate regulator flags debt trap, tightens credit card rules

[I]  IMF urges New Zealand to reconsider ban on foreigners' home ownership

[I]  Full trade war threatens 2008-style recession, warn French govt advisors

[I]  Over 40 countries object at WTO to U.S. car tariff plan

 

BLOOMBERG 

[I]  China's Central Bank Faces Policy Bind Over Debt, Growth Goals

[I]  China Turmoil Leaves Hong Kong Equity Bulls With Taste of Regret

[I]  Trade War's Surprise Winner in Asia: Chinese Government Debt

[I]  Thailand's $26 Billion Pension Fund Shuns Emerging Markets

[I]  Forget the Yield Curve. The Debt-Market Action Is in Fed Funds

[I]  Hedge Fund Plays Trade Spat Shorting China Cars, Buying Travel

[I]  China's Central Bank Faces Policy Bind Over Debt, Growth Goals

 

WALL STREET JOURNAL

[I]  China’s Export Growth to U.S. Abruptly Slows as Tariffs Near

[I]  Factory Activity Heats Up as Manufacturers Position for Tariffs

[I]  U.S. to Consider Iran Sanctions Relief on a ‘Case-by-Case’ Basis

[I]  Unpaid Internships Are Going Out of Style

[I]  Vote Resets U.S.-Mexico Relations on Trade

[I]  South Korea’s CPI Rises 1.5% in June

[I]  U.S. Trade Tensions Send Yuan Sliding, Challenging China

[I]  As Economy Surges, Some Fear Slowdown Looms

 

BUSINESS LINE

[I]  AI wings to be clipped before body is sold

[I]  Govt to relax curbs on Indian firms chartering foreign ships

[I]  For young Indians, bank jobs are no prize catch

[I]  GDP, CPI data with new base year from next fiscal: Gowda

[I]  Lack of trust permeates Indo-UK ties, says former British High Commissioner Stagg

 

ECONOMIC TIMES

[I]  RBI cuts holding in US treasuries by highest in 1.5 years

[I]  CXO salary of Nifty companies up by 31%

[I]  Portugal pushes for early conclusion of India-EU FTA

[I]  GST: India's big tax reform paying off, but budget hole fears stay

[I]  Emerging markets contagion: Inflation targeting reins in outflows

[I]  No need for intervention as rupee still overvalued by 5-7%: Niti

[I]  Government to change base years for GDP, retail inflation calculation

[I]  Graft law change needed to protect officials: Arun Jaitley

 

BUSINESS STANDARD

[I]  MSP formulation based on outdated methodology, inadequate sample size

[I]  Polymer prices rise by 13% despite plastic ban, hit domestic demand

[I]  More powers for RBI: Piyush Goyal says govt open to Patel pliant

[I]  MCA plans to frame tougher regulations for independent directors

[I]  SAARC Development Fund forays into infra financing with AIIB support

[I]  Ban on plastic: The devil is not in the use, but in the lack of recycling

[I]  Sub-prime borrowers fuel affordable housing boom for lenders, HFCs

 

MARKETS (09:45 am)

[I]  SGX NIFTY Fut: 10685;  USDINR DGCX: 68.7750;  DJIA Mini: 24198;  FTSE 100 Fut: 7519;  NIKKEI 225 Fut: 21694;  EUR-USD: 1.1664; Crude Oil (WTI): 74.61;  Gold (Spot): 1257          

Best Regards, ARBIND

04 Jul 2018