MACRO ECONOMIC NEWS

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Macro Economic News 10 Jul 2018

Trade developments took a backseat to Brexit mayhem on Monday, while investors showed their  displeasure  with Turkish nepotism, and Elon Musk heads to China. China Year-on-year inflation is expected to come in at 1.9%, up slightly from the prior month’s 1.8%. Economists expect PPI to expand  4.5%, from May’s 4.1%.

The Conference Board Employment Trends Index increased in June after declining the previous month. 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. In a report released Monday, the Federal Reserve Bank of New York said that the public expects inflation to rise by 3% both a year from now and three years from now.

 

FINANCIAL TIMES

[I]  ‘Big four’ paid millions to advise Brussels on tax policy

[I]  Copper and Aussie dollar highlight China’s slowing economy

[I]  EU reacts with dismay to British Brexit chaos

[I]  Trump and Putin face nuclear options at Helsinki summit

[I]  Macron seeks to correct ‘unfairness’ image with welfare revolution

[I]  Trump hits out at Germany ahead of Nato summit

[I]  US urges North Korea to emulate Vietnam economic ‘miracle’

[I]  Ethiopia and Eritrea agree to end war 20 years on from hostilities

[I]  European telecoms industry pins hopes on US-style consolidation

 

REUTERS

[I]  Cuba will unveil new private sector regulations imminently: Granma

[I]  China June producer inflation hits six-month high, consumer inflation up slightly

[I]  Israel announces Gaza trade, fishing crackdown

[I]  UK police hunt nerve agent container after woman dies

[I]  Ethiopia and Eritrea declare war over, promise peace

[I]  Do not blame OPEC, oil producer group says of Trump criticism

[I]  South Korea scraps annual government war drill as talks with North go on

[I]  UK police hunt nerve agent container after woman dies

[I]  ECB in 'wait and see' mode about rate hikes - Nowotny

 

BLOOMBERG 

[I]  China Urgently Needs Economic Reform, European Chamber Says

[I]  May Plows On Toward Brexit After Resignations Compound Turmoil

[I]  Cheaper Green Power in Britain Could Put Nuclear in the Shade

[I]  Foreign Funds Keep Pouring Into China Despite Yuan's Jitters

[I]  China Bulls Keep Faith in Soaring Earnings After Stock Rout

[I]  Hedge Fund Sees China Stocks Climbing in Spite of Trade War

[I]  Malaysia's New Central Bank Chief Has Reason to Turn More Dovish

[I]  How Fears of an Inverted Yield Curve Could Be Self Fulfilling

[I]  OPEC Says It's Doing Best to Supply Market But Won't Overdo It

 

WALL STREET JOURNAL

[I]  U.S. Exporters Will Be a Surprise Loser From Tariff Fight

[I]  Wage Gains Threaten to Squeeze Retail, Industrial Profits

[I]  Conference Board’s Employment Trends Increased in June

[I]  Many States Are Unprepared for Next Downturn

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

[I]  Inflation Expectations Maintain Steady Gains in June

[I]  Analysis: June Jobs Report Offers Fed Officials Comfort With Current Rate Policy

[I]  Where’s the Money? Up to Two-Thirds of U.S. Cash is Held Abroad

[I]  Real Time Economics: As Tariffs Bite, Who Are the Winners and Losers?

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

 

BUSINESS LINE

[I]  Will ports create the next wave of NPAs?

[I]  Centre plans 46 changes in, explanations to, GST laws

[I]  India, South Korea agree on early reduction of tariffs on 11 items

[I]  Long-term bonds will ensure more funds for infra projects: Goyal

[I]  Monsoon set to make further inroads

[I]  Centre plans to set up fisheries infrastructure development fund

[I]  Funding IP/product-led start-ups

[I]  Using Artificial Intelligence for the good of farmers

[I]  Bringing value to the farmer-to-customer chain

 

ECONOMIC TIMES

[I]  Repayment demand, oil prices may take rupee to 72

[I]  In a double role: CFOs donning mantle of CEO

[I]  How gen-next is reshaping family businesses while preserving founding culture

[I]  Your salary hike is now based on next year’s performance

[I]  Government to pursue states to move to zero-budget natural farming

[I]  NIIF may move to acquire stressed infrastructure projects

[I]  Social security code may let workers choose pension, PF & health schemes

[I]  Ease of doing business: Ranking of states to be released tomorrow

[I]  Trail of transactions: That's what Modi wants to map in his fight against black money

 

BUSINESS STANDARD

[I]  Panic selling post RBI ban opens door for cryptocurrency arbitrage

[I]  Reimagining Brand Khadi: Here are measures being used to expand footprint

[I]  Road monetisation model to be adopted for inland waterways project

[I]  Decline in coal imports by India's power plants points to distress

[I]  Private listed companies posted robust sales growth in Q4, says RBI

[I]  Keen to reignite long-term financing: Finance Minister Piyush Goyal

[I]  World Bank red flags $237-trillion debt amid rising interest rates

 

MARKETS (09:30 am)

[I]  SGX NIFTY Fut: 10912;  USDINR DGCX: 68.9375;  DJIA Mini: 24848;  FTSE 100 Fut: 7641;  NIKKEI 225 Fut: 22267;  EUR-USD: 1.1747; Crude Oil (WTI): 74.03;  Gold (Spot): 1260          

Best Regards, ARBIND

10 Jul 2018