MACRO ECONOMIC NEWS

WISH THIS WEEK EARMARKS A NEW BEGINNING OF UNCONDITIONAL LOVE. GOOD MORNING.

Macro Economic News 27 Aug 2018

President Trump’s antagonistic posture towards international institutions at foreign summits this summer soured some European officials on the candidacy of a top Fed official to helm the international Financial Stability Board. Central bankers at the Federal Reserve’s annual retreat in Jackson Hole made clear they were concerned about his trade policy. The U.S. and Mexico are close to reaching an agreement on key issues holding back a renegotiation of Nafta, removing a hurdle to completing a deal that would eventually include Canada.

 

FINANCIAL TIMES

[I]  Fed officials see consumer costs as tariffs bite

[I]  Anti-immigration mood drives fear of racist profiling on EU borders

[I]  More bankers make leap to private equity careers

[I]  US student debt balloons past $1.5tn

[I]  Federal Reserve wrestles with steering US policy ‘by the stars’

[I]  India approves $6bn military spend as Asian arms race escalates

 

REUTERS

[I]  China's July industrial profits up 16.2 percent but slow from June

[I]  China says investment may weaken further, to make 'good use' of fiscal policy

[I]  Mexico, U.S. likely 'hours' away from NAFTA agreement: minister

[I]  U.S. stock futures hit record high following speech from Fed's Powell

[I]  North Korea paper blasts 'double dealing' U.S.

[I]  Fed's Bullard warns of recession risk in raising rates

[I]  As German economy powers on, finance ministry enjoys fiscal largesse

 

BLOOMBERG 

[I]  $52 Billion of India Loans Under Scrutiny on Bankruptcy Deadline

[I]  Why World Worries About Russia's Natural Gas Pipeline

[I]  Canada, U.K. Should Fear This Indicator Flashing Red, Goldman Says

[I]  Merkel's Call for Assertive Europe Sets Up Busy September for EU

[I]  China's Yuan Steady After Central Bank Signals its Support

[I]  PBOC Joins Forces With Powell to Hit the Brakes on Dollar Rally

[I]  U.S., Mexico Said Poised to Reach Nafta Deal Soon as Monday

[I]  Floods in India's Top Buyer May Hit Wedding Season Gold Demand

 

WALL STREET JOURNAL

[I]  Trump’s Stances Weaken Support for U.S. to Lead Global Banking Body

[I]  At Fed Retreat, Central Bankers Eye New Economic Risks

[I]  10 Years After Crisis, Retreat Is Quieter

[I]  U.S., Mexico Close to Resolving Issues Blocking Nafta Talks

[I]  Making Sense of Trump’s Zero-Tariffs Call

[I]  Global Economy Week Ahead: U.S. GDP Revisions and Other Data

[I]  Signs of a Strong Economy: Hedges Are Overgrown and Lawns Need Mowing

[I]  Regional Banks Still Need a Lending Boost

[I]  U.S. Durable-Goods Orders Fell 1.7% in July

[I]  BOE Economist Warns of Giant Firms’ Effects on Inflation, Growth

 

BUSINESS LINE

[I]  A handful of States account for 70% of MF assets

[I]  Income-tax scrutiny all set to go electronic

[I]  Armed with smartphones and biometric scanners, the postman leads India Post’s banking push

[I]  SEBI looking at cutting expense rate of MFs, says top official

[I]  In the sordid world of high finance

[I]  Countering the looming shadow of China

 

ECONOMIC TIMES

[I]  What changed your markets while you were sleeping

[I]  Investor optimism on global oil prices wanes

[I]  Sebi plans ‘on tap’ bond market

[I]  India’s widening trade gap raises concern

[I]  Government looks to meet 75% of FY19 selloff target by December

[I]  NITI Aayog to review progress of standardisation of Metro rail systems

 

BUSINESS STANDARD

[I]  Countdown to Ayushman Bharat scheme: Gujarat expects seamless transition

[I]  Sebi is working on a special policy to ensure data privacy for investors

[I]  US-China trade war: India sees an opportunity to cash in on trade gap

[I]  RBI to rewire cash handling system, starts exploratory talks with banks

[I]  OMCs, fuel dealers battle it out over sharing of personal data of staff

[I]  GST Council yet to receive formal cess proposal from flood-hit Kerala

[I]  Statsguru: Households with smaller landholdings earn more from wage labour

 

MARKETS (10:30 am)

[I]  SGX NIFTY Fut: 11667;  USDINR DGCX: 69.9325;  DJIA Mini: 25880;  FTSE 100 Fut: 7579;  NIKKEI 225 Fut: 22797;  EUR-USD: 1.1621; Crude Oil (WTI): 68.68;  Gold (Spot): 1207

Best Regards, ARBIND

27 Aug 2018