MACRO ECONOMIC NEWS

WISHING A DAY OF EASE AND CONVENIENCE. GOOD MORNING.

Macro Economic News 31 Jul 2018

The rout in tech stocks deepened, with losses nearing $300 billion since Facebook reported last week. Bonds across global developed markets declined ahead of the Bank of Japan’s policy decision Tuesday on growing speculation that officials may adjust policy stimulus. U.K. gilts led the drop, with 10-year yields touching the highest level in nearly a month, while U.S. Treasuries and German bunds followed suit. Yields on similar-dated Japanese bonds rose to an almost 18-month high during Asian hours before the BOJ offered to buy an unlimited amount of securities for the third time in a week.

FINANCIAL TIMES

[I]  China plans tighter controls on foreign acquisitions

[I]  Barnier eases opposition to May’s Brexit plan for City of London

[I]  Drought turns up the heat on wheat producers

[I]  Trump hails Italy’s actions on migration

[I]  EU warns US over enforcement of Obama-era privacy deal

[I]  Audit the algorithms that are ruling our lives

REUTERS

[I]  India looking to compel e-commerce, social media firms to store data locally

[I]  China's July factory growth slows on trade frictions, bad weather

[I]  U.S. detects new activity at North Korea factory that built ICBMs: source

[I]  China July official services PMI eases to 54.0

[I]  China July official factory PMI falls to 51.2, below expectations

[I]  Japan jobless rate rises to 2.4 percent in June

[I]  BOJ to mull ways to make stimulus sustainable amid weak inflation

BLOOMBERG 

[I]  Correction Worse Than February Is Building, Morgan Stanley Says

[I]  Global Bond Yields Climb as Investors Await BOJ Policy Review

[I]  BOJ Decision-Day Guide: Kuroda Faces Off With Frenzied Markets

[I]  Name-and-Shame Approach Puts More Women on Singapore Boards

[I]  China Factory Gauge Falls on Tighter Credit, Trade War Risks

WALL STREET JOURNAL

[I]  Analysis: Solid Economy With Room to Run

[I]  Chinese Investors Pulled Back in U.S. in 2017 

[I]  Global Week Ahead: U.S., Japan and Brazil Policy Meetings 

[I]  Tariff Fears Tug on U.S. Consumer Sentiment 

[I]  Analysis: China’s Shrinking Trade Surplus Unlikely to Impress Trump

[I]  Real Time Economics: The Labor Market Is Tight, the Economy Is Strong, and Companies Are Raising Prices

[I]  U.S. to ‘Deepen Engagement’ in Asia, Pompeo Says

[I]  The Pension Hole for U.S. Cities and States Is the Size of Japan’s Economy

[I]  China’s Shrinking Trade Surplus Unlikely to Impress Trump

BUSINESS LINE

[I]  E-commerce policy will balance privacy, market principles: Govt

[I]  More leeway for buyers of distressed listed cos

[I]  Import duty hike fails to stem cheap veg oil imports

[I]  UK Parliamentary committee to look into bilateral trade with India

[I]  Benefit of ambiguity in tax exemption will favour Revenue Dept: Apex court

[I]  FRDI: Panel accepts FM’s proposal, recommends withdrawal of Bill

ECONOMIC TIMES

[I]  Govt to monetise land lying with sick PSUs

[I]  Major boost for 'Make in India' in defence mfg

[I]  Despite being tech innovators, Indian firms slower in adopting digitisation: Experts

[I]  India's logged a record $98 billion in deals this year

[I]  Gold imports up 22.43% at 955.16 tonnes in 2017-18: Government

[I]  Investment in logistics sector to touch $500 billion by 2025: Suresh Prabhu

[I]  India Inc's external borrowing jumps 66% to $2.71 bn in Jun

[I]  India's infra deficit too large, will take time to be eliminated: S&P

[I]  India looking to compel e-commerce, social media firms to store data locally

BUSINESS STANDARD

[I]  GST collection may be Rs 517 bn less than budgeted target of Rs 6,039 bn

[I]  What's in the cart? Single regulator for e-commerce sector in the offing

[I]  SBI cuts shorter term bulk deposit rates, increases longer term rates

[I]  Diesel cars face last gasp as demand may be hit further with BS-VI norms

[I]  Why brands are seeking a lifestyle status, trying strategy of using emotion

[I]  Have a cryptocurrency company? Bermuda, Malta and Gibraltar want you

[I]  Supply of agri products rises as truckers' strike ends, no impact on prices

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 11330;  USDINR DGCX: 69.0025;  DJIA Mini: 25308;  FTSE 100 Fut: 7635;  NIKKEI 225 Fut: 22477;  EUR-USD: 1.1706; Crude Oil (WTI): 70.02;  Gold (Spot): 1221

Best Regards, ARBIND

31 Jul 2018