MACRO ECONOMIC NEWS

WISH WE ALL TRANSCEND TO ‘SMILE FOR NO REASON’ FROM ‘NO REASON TO SMILE’

Macro Economic News 09 Jul 2018

Many U.S. states have been slow to improve their finances nine years into the economic expansion. That raises a risk they won’t be prepared when another downturn hits. U.S. inflation probably accelerated in June, reinforcing the Federal Reserve’s outlook for gradual interest rate increases, economists project. The first shot of the  U.S.-China trade war went off without much of a reaction from investors. The calm may be short lived. However, Trump said last week that he may expand tariffs to more than $500 billion in Chinese goods, to basically cover all imports from the Asian nation into the U.S.

 

FINANCIAL TIMES

[I]  Nafta deal possible, says Mexico’s new economy minister

[I]  Macron takes flak for unwelcoming approach to EU migrant crisis

[I]  Israel hopes Assad will press Iranian forces to pull back

[I]  Taiwan braces for Chinese meddling ahead of election

[I]  China seeks ally in Europe to face down US tariffs

[I]  China scales back property subsidies, adding to growth concerns

[I]  Activist investors pose rare challenge to UK directors

 

REUTERS

[I]  Bitter foes Ethiopia, Eritrea hold historic peace talks

[I]  Bank of Israel to again hold rates as governor to step down

[I]  France says Europe united against U.S. tariffs as Germany eyes negotiation

[I]  Iran calls for EU help as shipping giant pulls out for fear of U.S. sanctions

[I]  Transatlantic ties hang in the balance as Trump comes to Europe

[I]  Duelling tariffs raise fears of long U.S.-China trade battle

[I]  Investors to tune in for trade impact this profit season

 

BLOOMBERG 

[I]  Brexit Exit, How Trade War Gets Ugly, Japan Pay Growth: Eco Day

[I]  Brexit Deals Blow to Financial Sector as U.K. Investments Slide

[I]  The Bank of England Is on Course for an August Rate Hike

[I]  Central Banks Are Ramping Up Their Risk Taking

[I]  Myanmar's Waiting for the Western Investment That Never Came

[I]  A Peculiar Practice in Japanese Bond Sales Hurts Investors and Banks

[I]  Ringgit's Resilience Under Threat as Case for Rate Cut Grows

[I]  Japan's Wage Gains Finally Take Off as Labor Shortage Bites

[I]  Oil, Beans and Steel: How Trade Wars Will Redraw Global Commerce

 

WALL STREET JOURNAL

[I]  Fed Officials Debate Signal From Flattening Yield Curve

[I]  Many States Are Unprepared For Next Downturn

[I]  U.S. and China Tariffs Are Rippling Through U.S. Industries

[I]  African Americans, Lesser-Educated Workers Flock to Labor Force

[I]  Economists See Fed Raising Rates in June, Then September

 

BUSINESS LINE

[I]  GST discount on digital payments deferred

[I]  India to tell US not to judge ties on the basis of trade deficit

[I]  Iran oil: Demand will be the deciding factor, says Pradhan

[I]  Flow of funds to fight climate change dries up for developing countries

[I]  MCA makes statutory auditor certificate must for firms raising public deposits

[I]  The coming of conscious machines

[I]  June quarter results, macro data, monsoon progress to set market trend this week

 

ECONOMIC TIMES

[I]  Indian economy is in good shape with greater capacity to deal with challenges: Eco Secy

[I]  Q1 earnings preview: Low base, good rural demand to help auto firms post solid growth

[I]  PSU banks plan to raise over Rs 50,000 crore equity capital in FY19

[I]  India Inc raises Rs 1,000 crore via QIP in May

[I]  Rupee may hit 70 mark this week, say bankers

[I]  Can Indian firms improve their crisis response record?

[I]  Below-normal rains hit planting; rice down 15%, area under pulses falls 19%

[I]  Global investors adopting 'wait and watch' approach on India: Kroll

[I]  Relax artificial entry barriers for MSMEs, SC/ST enterprises: Government to PSUs

 

BUSINESS STANDARD

[I]  India reconsidering Rs 2 trn 5th generation fighter jet project with Russia

[I]  India's apparel exports fall by 17% in Q1 FY19 due to slowdown in demand

[I]  Statsguru: Sharp hike in minimum support prices likely to up CPI

[I]  Govt mulls setting up electric vehicle target for state public transporters

[I]  GST: Ministerial panel favours deferment of sops for digital payments

[I]  Ringgit's resilience under threat as case for rate cut grows

[I]  Unicorns are China's cavalry in trade war

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 10824;  USDINR DGCX: 68.9550;  DJIA Mini: 24579;  FTSE 100 Fut: 7595;  NIKKEI 225 Fut: 22063;  EUR-USD: 1.1758; Crude Oil (WTI): 74.06;  Gold (Spot): 1258          

Best Regards, ARBIND

09 Jul 2018