WISHING THIS WEEKEND, DIVINE INTELLIGENCE MAKES RIGHT CHOICES TO CELEBRATE LIFE

Macro Economic News 24 Mar 2018

 

All-out trade war edges closer, markets are put on notice and government shutdown is averted. Such a hard-nosed approach may have widespread and lasting consequences. With sizeable holdings of U.S. Treasuries and its growing export market, China has considerable leverage over the U.S. Though Beijing’s actions so far are seen by analysts as measured, there may be more to come.

Russian spies in Europe may soon get the boot after some countries said they’re considering expulsions and EU leaders sided with Britain in pointing the finger at the Kremlin for the nerve agent poisoning in Britain of a former double agent. Germany’s Angela Merkel said “we are united in our language, but if necessary also to react together with further action.”

 

FINANCIAL TIMES

[I]  China prepares retaliatory tariffs on US imports

[I]  The demise of the White House moderates

[I]  If polarisation is a poison, let conversation be the cure

[I]  Germans so obsessed with saving money?

[I]  There’s money in moderation: the rise of alcohol-free drinks

[I]  Why Brexit could boost British farming

[I]  US tariffs target China industrial policy, not trade deficit

[I]  EU will not yield to blackmail on steel tariff, Macron warns US

[I]  EU opens decisive new phase of Brexit talks

[I]  US shutdown averted after Trump signs $1.3tn spending bill

 

REUTERS

[I]  India says to give incentives to battery makers as it promotes electric vehicles

[I]  EU complains of Trump's 'gun to our head' over tariffs

[I]  Ghana votes to host U.S. military; opposition boycotts vote

[I]  Wall Street nosedives as investors flee on trade war fears

[I]  U.S. charges, sanctions Iranians for global cyber attacks on behalf of Tehran

[I]  Take Five: World markets themes for the week ahead

[I]  Higher gold prices keep buyers at bay; India discounts at 6-1/2-month high

[I]  U.S. core capital goods orders, shipments surge in February

[I]  Trump moves towards China tariffs in warning shot on technology transfer

[I]  China urges U.S. away from 'brink' as Trump picks trade weapons

 

BLOOMBERG 

[I]  Spain's Rating Lifted by S&P With Prospect of Further Upgrade

[I]  South Africa Dodges Third Junk Rating as Moody's Lifts Outlook

[I]  China Signals It Could Ease Treasury Purchases to Counter Trump

[I]  Currency and Credit Markets Take Trade Tensions Mostly in Stride

[I]  China Hits Back on Trump Tariffs as Europe Off Hook for Now

[I]  Wall Street Divided After Global Equity Wipeout Nears $1 Trillion

[I]  Canadian Inflation Accelerates to Fastest Pace in Three Years

[I]  Hedge Funds Cut Bullish Hog Wagers Days Before China Tariffs

[I]  Trump Wanted a Trade War. Here's What One Looks Like

[I]  Trade War Rips Through Farm World; Soybean, Hog Prices Fall

[I]  U.S. Trade Battle Fuels Metals' Longest Weekly Slump Since 2015

 

BUSINESS LINE

[I]  LoU ban forces mobile phone makers to dial back on production plans

[I]  Smart cities: experts call for creation of grading benchmark

[I]  India must embrace technology and shed fears of job losses, says Rajan

[I]  Domestic steel players hit as ore prices remain firm

[I]  Finance Ministry, RBI to discuss H1 borrowing plan today

[I]  Brands and social media, a bitter-sweet relationship

[I]  MSP hike alone won’t help farm sector, shows ICRA study

[I]  SMEs find the going tough as cost of funds climbs post LoU ban

 

ECONOMIC TIMES

[I]  Number of crorepati executives in India Inc rises threefold in 2 years

[I]  Forex reserves fall $152.4 million to $421.334 billion

[I]  Policy ensuring MSP 50 per cent higher than production cost to come soon

[I]  Merger and acquisition deal value dips 12% in 2017 on drop in deal sizes: Report

[I]  US-China tariff faceoff: India must stay away, it can impact recovery, cautions Rajan

[I]  India, Singapore can work on infra financing: Singapore minister

[I]  Fugitive Economic Offenders Bill: India must not run away from a clearer law

[I]  Raghuram Rajan calls for focused tariff regime

[I]  Over 68,000 companies registered in 8 months post GST: Union minister

[I]  Ravi Shankar Prasad meets key IT ministry officials to discuss data security on social media

[I]  India must lead in defusing possibilities of a global trade war: Ficci

[I]  Global trade facing challenges, India needs to boost exports: Suresh Prabhu

 

BUSINESS STANDARD

[I]  States with higher literacy rates prefer smartphones over feature phones

[I]  Deal street dilemma: M&A numbers hit record high in 2017 but value down 12%

[I]  Consumer durables: Consumption rises as young India defies slowdown

[I]  Need to give quality education in India to students who fly overseas: Rajan

[I]  Escalation in US-China trade war may hit economic recovery: Raghuram Rajan

[I]  Days of 'what US does today, world does tomorrow' over now: NITI Aayog VC

[I]  Indian exports may take a hit as trade war could lower growth in China, US

[I]  Govt plans to resolve regulatory issues being faced by start-ups

 

Best Regards, ARBIND

24 Mar 2018

WISHING A FABULOUS FRIDAY TO FOLLOW BLISS AND DO WHAT MAKES HEART SING

Macro Economic News 23 Mar 2018

 

U.S. President Donald Trump announced his much-anticipated tariff measures against China as stocks tank and bonds surge. The 10-year Treasury yield slid toward 2.8 percent and the yen advanced as investors sought safe havens. 

On the radar will be CPI data coming from Japan and Singapore, and Taiwan industrial production. Europe's day will feature a Russian interest rate decision, Danish retail sales, Spanish PPI and Norwegian unemployment. The American session's data docket will include Brazilian inflation and current account figures, as well as U.S. durable goods and new home sales. And the deadline arrives yet again for Congress to avoid a government shutdown.

 

FINANCIAL TIMES

[I]  Trump tariffs target strategic Chinese sectors

[I]  Economists’ cryptocurrency aims to avoid pitfalls of bitcoin

[I]  Jay Powell plays it safe in Federal Reserve debut

[I]  US businesses react with alarm to Trump’s China tariffs

[I]  Unrest hits central and eastern Europe as post-Soviet hopes fade

[I]  Bank of England sets the stage for interest rate rise in May

[I]  US grants last-minute exemptions to looming steel tariffs

 

REUTERS

[I]  India allocates 100 billion rupees for 'Modicare'

[I]  India likely to emerge unscathed from El Nino: government official

[I]  Indian airliner makes history by flying to Israel via Saudi airspace

[I]  Merkel raises prospect of further steps against Russia

[I]  EU backs Britain in blaming Russia for spy attack, recalls Moscow envoy

[I]  Trump moves toward China tariffs in warning shot on technology transfer

[I]  Japan will closely communicate with the U.S. over trade issues-Seko

[I]  Oil prices rise as Saudi Arabia says production curbs could last into 2019

[I]  China strikes back in trade spat, aims tariffs at $3 billion U.S. goods

[I]  Trump moves towards China tariffs in warning shot on technology transfer

[I]  Merkel says EU still waiting to hear U.S. plans for tariffs

[I]  Government funding bill hits snag in U.S. Senate

[I]  ECB's Draghi warns EU leaders on raising spending

 

BLOOMBERG 

[I]  Japan’s Central Bank Is Halfway to Its Inflation Target

[I]  China Hits Back at Trump With Planned Tariffs on $3 Billion of U.S. Imports

[I]  EU Backs May and Points Finger at Russia for Chemical Attack

[I]  Asia Markets Plunge as China Hits Back at Trump's Tariffs

[I]  China’s Central Bank Raises Borrowing Costs After Fed Hikes

[I]  Hong Kong Turnover Shows Big Money Doubts About Market Recovery

[I]  End of Korean War Might Spark End to ‘Korea Discount’ for Stocks

[I]  Surging Money Rates 10,000 Miles From Fed Flag Warning for RBA

 

BUSINESS LINE

[I]  LoU ban: Jewellers burn more cash to get import credit

[I]  Capital gains from buyback ‘gold rush’ on taxman’s radar

[I]  ‘States must recall drugs, combination medicines sold without DCGI nod’

[I]  Electric-vehicle policy will clear regulatory hurdles, says Minister

[I]  ‘Internet firms pose a big challenge to anti-trust bodies’

[I]  Gratuity boost — what it means for you

[I]  90% of Budget Session-II lost to disruptions

[I]  Vegetable seeds industry to double to Rs. 8,000 cr in 5 years: ICRA

[I]  Reports on Rs. 1-lakh cr smart cities projects in the making

[I]  Chinese firms eye role in smart cities

 

ECONOMIC TIMES

[I]  Trump sets China tariff plan, edges away from global trade war 

[I]  In India, digital gold sellers hope trickle will become a rush

[I]  Merger and acquisition deal volume at 7-year high in 2017 with 1,022 transactions: EY

[I]  Wheat output may witness marginal squeeze due to weather in North

[I]  18 PSUs remain in 'red' despite government's effort to revive them

[I]  Delhi government presents 'green budget', aims at controlling pollution

[I]  CAD may treble to $10-12 billion in Q4 on higher trade deficit: Icra

[I]  Kerala all set to transform to a digital economy, says chief minister

[I]  Need to rethink over PSBs ownership if to ward frauds off in future: CEA Arvind Subramanian

[I]  Insolvency law panel likely to finalise report this month

 

BUSINESS STANDARD

[I]  Vision 2025: Draft defence policy eyes place for India in producers' club

[I]  Electric cars may be cheaper than gas guzzlers in seven years, says report

[I]  Ayushman Bharat insurance scheme: Testing for Modicare to start by July

[I]  Big rise in farmer suicides in four states during 2016, says NCRB data

[I]  US Fed rate hike: Indian exports may take small hit in long-term

[I]  Fixed-term contract staff to get gratuity benefits like permanent employees

[I]  Govt extends export support to chana dal; to produce 24 mn tonnes of pulses

 

MARKETS (07:00 am) 

[I]  SGX NIFTY Fut: 9993;  USDINR DGCX: 65.2100;  DJIA Mini: 23797;  FTSE 100 Fut:  6792;  NIKKEI 225 Fut: 20770;  EUR-USD: 1.2331; Crude Oil (WTI): 65.22;  Gold (Spot): 1338

Best Regards, ARBIND

23 Mar 2018