WISHING THIS WEEKEND, AN EXPRESSION OF GRATITUDE FOR WONDERFUL LIFE

Macro Economic News 14 Apr 2018

 

President Donald Trump now wants trade deals, not war. He asked his aides to explore re-joining an Asia-Pacific trade pact he withdrew from shortly after taking office. Markets have been whipsawed this week amidst visualising impacts of higher interest rates and a flattening yield curve. For bank chiefs, the quarterly flag-waving exercise will be a chance to weigh in on everything from trade tension to volatility to the aging economic cycle.

 

FINANCIAL TIMES

[I]  Donald Trump’s erratic response over Syria leaves allies guessing

[I]  Second attempt to break Italy’s political impasse fails

[I]  US poised to support $13bn capital increase for World Bank

[I]  UK brokers begin to feel the squeeze from Mifid

[I]  Statisticians know we cannot rely on personal impressions alone

[I]  The global economic recovery has hit some resistance

[I]  Treasury ramps up the pressure on contractors’ tax

 

REUTERS

[I]  India's March exports fall amid trade tensions

[I]  U.S., Britain, France launch air strikes in Syria

[I]  U.S. to back $13 billion World Bank capital increase: sources

[I]  Japan to propose new framework to discuss trade with U.S.: Nikkei

[I]  U.S. wages cruise missile strikes at Syria targets - source

[I]  Trump says U.S. will only rejoin Pacific trade pact if terms are improved

[I]  U.N. shipping agency reaches deal to cut CO2 emissions

[I]  India's March exports fall amid trade tensions

[I]  Global Economy: Superpower dispute starting to cast shadow

[I]  Fed's Rosengren optimistic on economy, wary of U.S. trade risks

 

BLOOMBERG 

[I]  ‘Shockingly Weak’ Cattle Market Means Cheap Burgers This Summer

[I]  Vancouver Hasn’t Seen This Few Homes Change Hands Since 2013

[I]  Huge in Korea? California's Bond Bankers See Big Fan Base Abroad

[I]  U.S. Dials Up China Criticism But Names No Currency Manipulators

[I]  S&P Raises Japan's Outlook to Positive on Stronger Growth

[I]  China's Billions Are Set to Revive Pakistan's Dilapidated Railways

[I]  Congo Republic Lender Backed by China's AgBank Plans to Expand

[I]  China's Credit Growth Trails Estimates Amid Debt Cleanup

[I]  China's Trade Data Baffle Even the Experts as Forecasts Miss Big

[I]  China Developer Threatens to Sack Managers for Sluggish Sales

[I]  China Posts Trade Blip, Soft Credit as Upbeat GDP Report Awaited

[I]  Hong Kong Needs More Intervention to Clear Liquidity Glut

 

WALL STREET JOURNAL

[I]  Trump Adviser Kudlow: ‘Calmer Heads’ Can Prevail in Trade Spat

[I]  China Delays Deal Reviews as U.S. Trade Frictions Build

[I]  Trump Talks TPP, but Trade Partners Say, Not So Fast

[I]  Consumer Sentiment Slips on Trade Fears

[I]  Trump Shakes Up NLRB Leadership

[I]  Fed’s Rosengren Worried Fiscal Stimulus Won’t Be There for Next Downturn

[I]  Powerful Forces Seen Restraining U.S. Pay Growth

[I]  U.S. Weekly Jobless Claims Hold Below 300,000 for Longest Streak on Record

[I]  Citizenship Question Rankles in a Trial Run of 2020 Census

[I]  Real Time Economics: Trump Sees Trade Strategy Working | More Pressure on China | Record Streak for U.S. Jobless Claims

 

BUSINESS LINE

[I]  Indian companies sign 7 MoUs with Russian Defence players

[I]  In Britain, opposition mounts against military intervention in Syria

[I]  Southern States will lose out on tax devolution: Kerala Finance Minister

[I]  FSSAI plans red colour-coded labels on packaged foods containing high levels of fat, sugar and salt

[I]  Ind-Ra raises GDP growth forecast to 7.4% this fiscal

[I]  Finance panel to take up NPA issue next week

[I]  MFs: Retail investors make their mark

[I]  Credit growth outstrips deposits’ in FY18

[I]  ‘Bonds issued by corporates in FY18 touch Rs. 6 lakh crore’

[I]  Why volatility is back to haunt bond markets

 

ECONOMIC TIMES

[I]  Indian tea in demand as global rates rise

[I]  Deal Digest: 22 deals recorded in a week

[I]  Unseasonal rain damages crops in north India

[I]  India, Singapore work on bilateral online payment use: Tharman Shanmugaratnam

[I]  Trade, investment, technology high on India-Britain bilateral summit: Envoy

[I]  US to review 3,500 Indian exports getting duty free access

[I]  Trade Data: March trade deficit widens to $13.69 bn

[I]  Exports dip 0.66% in March, up 9.78% in 2017-18

[I]  PM Modi aims to increase healthcare share in GDP to 2.5 pc: Rajnath Singh

[I]  Bad loans about to trigger another showdown, Modi govt plays for time but RBI won't play ball

[I]  Rationalise GST, cut corporate tax rate to 18%: CII President

 

BUSINESS STANDARD

[I]  EPFO users may get an option to increase or decrease investments in ETFs

[I]  Firms set for rate change hiccups; stable corporate yields a positive

[I]  E-way bills hit truck dispatches; inter-state movement down 15%

[I]  March exports decline 0.66% to $29.11 bn; trade deficit widens to $13.69 bn

[I]  India's forex reserves rise $503.6 mn to record high of $424.864 bn

[I]  Population policy: 15th Finance Commission mired in controversy

[I]  India's eroding institutional and social capital

 

Best Regards, ARBIND

14 Apr 2018

THANK YOU FOR INVALUABLE LOVE AND SUPPORT

Macro Economic News 13 Apr 2018

Trump is considering rejoining the Trans-Pacific Partnership, the Asia-Pacific trade pact he withdrew from shortly after taking office.  Trump also said of China, “I think they’re going to treat us really fairly”.

Singapore has tightened its monetary policy further. Libor rates are surging. The Hong Kong Monetary Authority intervened in local currency, first time since 2005, to boost borrowing costs by draining liquidity. That would signal the end of an era of ultra-cheap money that made Hong Kong the world’s least affordable market for housing and propelled equities to all-time highs.

FINANCIAL TIMES

[I]  IMF’s Lagarde warns China on Belt and Road debt

[I]  Qatar’s $12bn bond deal tops that of rival Saudi Arabia

[I]  Trump’s new tough line on Russia raises risks

[I]  Trump speaks with allies over Syria options

[I]  European Parliament seeks clarity on future relations with UK

[I]  US-China trade tensions hitting global growth, says WTO

[I]  New Zealand to ban future offshore oil and gas exploration

 

REUTERS

[I]  Retail inflation eases to five-month low in March

[I]  Industrial output up 7.1 percent in February

[I]  Expert Views: Consumer inflation eases

[I]  U.S. reviewing trade preferences for India, Indonesia, Kazakhstan

[I]  U.S. to take another look at Pacific trade pact that Trump quashed

[I]  Singapore's first monetary policy tightening in six years comes with trade warning

[I]  Don't rule out diesel car refits, German environment minister warns

[I]  Global trade growth strong but at risk if conflict escalates, WTO says

[I]  U.S. weekly jobless claims fall; import prices unchanged

[I]  China to adopt system of punitive damages for intellectual property rights infringements

 

BLOOMBERG 

[I]  The Bank of Japan's Next ETF Idea Is Stocks That Empower Women

[I]  Indonesia Wins Moody's Upgrade Months After Fitch Move

[I]  Mexico Pushes to Finish Trade Deal With EU This Month

[I]  What Happened in the World Economy This Week and What It Means

[I]  Singapore Central Bank Tightens Policy Amid Solid Growth

[I]  Get Ready for the Unintended Consequences of Trump’s Trade War

[I]  China's Billions Are Set to Revive Pakistan's Dilapidated Railways

[I]  China GDP Will Signal Yuan Is Doing Just Fine and May Even Rally

[I]  WTO Warns Mounting Tensions Could Curb Global Trade Growth

[I]  Trade War Is Risk for Export-Led Southeast Asia, World Bank Says

 

WALL STREET JOURNAL

[I]  Powerful Forces Seen Restraining U.S. Pay Growth

[I]  Fed Minutes Signal Greater Confidence in Reaching 2% Inflation

[I]  U.K. Calls for ​EU to Recognize Its Regulation Post-Brexit

[I]  Trump Adviser Hopes to Avoid U.S.-China Trade War

[I]  In the trade battle between the U.S. and China, joint ventures play a starring role.

[I]  U.S. Weekly Jobless Claims Hold Below 300,000 for Longest Streak on Record

[I]  ECB Worried About Trade Wars, Euro’s Strength at March Meeting

[I]  U.S. Budget Deficit Widens on Lower Revenue, Higher Spending

[I]  Real Time Economics: The Fed Eyes Inflation | Consumer Prices on the March | The Facebook Monopoly

[I]  Real Time Economics: Inflation Focus | Fed Minutes | Deaths of Despair

 

BUSINESS LINE

[I]  India, China on the same page on oil pricing, says Pradhan

[I]  Army chief reaches out to start-ups, MSMEs for indigenous solutions

[I]  Oil PSUs have not been asked to absorb hike in crude price: Pradhan

[I]  Tax exemption for start-ups on investments up to Rs. 10 cr

[I]  IIP grows 7.1% in Feb; retail inflation at five-month low in March

[I]  ‘Self-trade’ manipulation issue back on SEBI radar

[I]  ‘US political rhetoric is the IT industry’s biggest threat ’

 

ECONOMIC TIMES

[I]  Brand Equity Marketing Awards: Business as usual or a disruptor?

[I]  Experts call for Central policy to curb marine debris

[I]  February IIP growth slips to 7.1%; retail inflation cools to five-month low in March

[I]  Rs 8 trillion projects under Sagaramala in motion but funding remains challenge: ICRA

[I]  Government needs to re-look at certain provisions of IBC: Uday Kotak

[I]  GST not an 'unfixable' problem, but note ban really was a mess: Raghuram Rajan

[I]  PM Narendra Modi puts inflation goals at risk in bid to meet farm pledges

 

BUSINESS STANDARD

[I]  India, China join ranks to negotiate with oil producers for better bargain

[I]  80% and counting: Hotel occupancy gain strength in Delhi, Mumbai

[I]  Small no longer beautiful for car buyers: Sale of compact models down 3%

[I]  India must ensure privacy for biometric identification programmes: IMF

[I]  Limits notified for tax breaks to angel investors

[I]  Bad loans likely to dampen investment climate, says CII president

[I]  Industrial output expands at 7.1%; March retail inflation eases to 4.28%

[I]  Strategic partnership in defence can't be rushed beyond a point

 

MARKETS (07:15 am)

[I]  SGX NIFTY Fut: 10496;  USDINR DGCX: 65.3800;  DJIA Mini: 24411;  FTSE 100 Fut: 7187;  NIKKEI 225 Fut: 21904;  EUR-USD: 1.2326; Crude Oil (WTI): 66.87;  Gold (Spot): 1339

Best Regards, ARBIND

13 Apr 2018