WISH THIS WEEKEND IS FULL OF FUN WITHOUT COMPROMISE

Macro Economic News 28 Apr 2018

 

Korean leaders agree to end war, it’s GDP day, and Merkel meets Trump. They agreed to declare an end to the war this year, and to aim for complete denuclearization. While markets have welcomed the meeting and the announcements, there remains a view that the potential summit between President Donald Trump and Kim remains the bigger event. GDP data released in Europe this morning showed a slowdown in euro-area growth, and almost a complete stop to U.K. expansion.

 

FINANCIAL TIMES

[I]  North and South Korean leaders declare end to war

[I]  Playing with fire: Iran deal looms over rising oil price

[I]  Confronting anxiety in the age of fear

[I]  Is it time to reform inheritance tax?

[I]  US wages jump on back of sturdy economic expansion

[I]  French slowdown adds to eurozone growth concern

[I]  Bank of Japan abandons ‘fiscal 2019’ target for inflation goal

[I]  Korean peace treaty would have to overcome decades of distrust

[I]  Germany to miss Nato defence spending pledge

[I]  EU steps back from tough new fund management rules

 

REUTERS

[I]  India central bank lifts key restriction on foreign investors in bond market

[I]  U.S., China trade tensions a pressing concern for Southeast Asia - Singapore PM

[I]  Rising costs, inflation on radar as U.S. earnings season unfolds

[I]  NAFTA officials put top-level talks on hold until May 7 to consult with industry

[I]  Despite warmth, Merkel and Trump still differ on trade and NATO

[I]  Trump welcomes historic North, South Korea meeting

[I]  Britain banking on ancient mines for slice of electric car revolution

[I]  U.S. considers tightening grip on China ties to corporate America

[I]  Global Economy: Mayday on May Day? Trump steel tariff deadline looms

[I]  U.S. economy slows in first-quarter, but wage growth accelerates

 

BLOOMBERG 

[I]  Argentina's Extraordinary Rate Hike Could Be Just the Beginning

[I]  What an End to the 68-Year Korean War Would Mean

[I]  U.S.-China Trade Fight Takes Shape in Geneva

[I]  U.S.-China Trade Dispute Takes a Toll on Japan's Inflation

[I]  Indonesia's Worst Rout Since 2013 Ignites Age-Old Debate

[I]  Surge in Singapore's Home Prices Even Bigger Than First Reported

[I]  U.K. Consumer Confidence Drops

 

WALL STREET JOURNAL

[I]  Growth Cooled in First Quarter as Consumers Reined In Spending

[I]  U.S. Employment Costs Rose Solidly In First Quarter

[I]  Despite Attempts to Fix the Data, First-Quarter GDP May Still Mislead

[I]  Americans’ Confidence Slips But Remains Historically High

[I]  Europe’s Mixed Economic Fortunes Complicate Path for Stimulus

[I]  Bank of Japan Ditches Inflation Target Date

[I]  Business Investment Stalls in the First Months of 2018

[I]  Fewer High-School Grads Enrolled in College Last Year

[I]  Eurozone Inflation Ticks Up, Stemming Months of Decline

[I]  With a Year to Go to Brexit, U.K. Economy Lags Its Peers

[I]  As Eurozone Economy Roars, Inflation Lags

[I]  China Fends Off Trade Trouble With 6.8% Growth

[I]  Japan to Expand Program to Bring in Foreign Workers

[I]  U.S., South Korea Strike Trade Deal; Seoul Exempt From Steel Tariffs

[I]  Swiss National Bank Kills Its Own Stock-Price Buzz

[I]  ECB Seeks Clarity on Economy Before Next Move

[I]  Financial Deregulation Throws Fuel on Already-Hot Economy

 

BUSINESS LINE

[I]  Tractor sales at all-time high

[I]  Banks told to stock up ATMs

[I]  GST collections for 2017-18 at Rs. 7.4-lakh crore

[I]  DBT in fertiliser is a hit among farmers : Survey

[I]  Officers empowered to search, seize properties of economic offenders

[I]  A crude awakening could be in the offing

[I]  Ahead of long weekend, IBA tells banks to stock up on cash in ATMs

 

ECONOMIC TIMES

[I]  Women in India make on-average 16 per cent less than men: Report

[I]  Need to improve infrastructure to prevent leakage in fertiliser subsidy: Study

[I]  Global firms with combined market cap of $8.9 trillion come to India

[I]  India continues to figure in US' intellectual property priority watch list

[I]  Protectionism will be disaster for trade, economies: Suresh Prabhu

[I]  India’s GDP may grow 7.3% in FY19: Fitch

[I]  India set for AI-led economic transformation: Report

[I]  India needs to triple its GDP to maintain sustain growth, says Jayant Sinha

 

BUSINESS STANDARD

[I]  Why are Hindi audiences switching off general entertainment channels?

[I]  India-China trade relations warm under Trump's global trade war

[I]  Retailers manually adjusting transactions to meet DBT requirement: Survey

[I]  Fitch retains India's sovereign rating at the lowest investment grade

[I]  EPFO interest rate for 2017-18 at 5-yr-low of 8.55%; FinMin clears proposal

 

Best Regards, ARBIND

28 Apr 2018

WISH WE ALL ARE FLOODED WITH TEMPTATION AND JOY

Macro Economic News 27 Apr 2018

 

Korea takes center stage amid a historic peace summit. Kim Jong Un will become the first North Korean leader to enter South Korea since the peninsula was divided nearly seven decades ago. The European Central Bank held rates and left its bond-buying program unchanged and maintained its pledge to move slowly in removing euro-area stimulus. Next up in central bank action, the BOJ is set to conclude its two-day meeting by announcing no change to its existing policy. The BOJ is expected to follow the ECB in holding off on any policy changes.

 

FINANCIAL TIMES

[I]  Relief for Greece? The debt dilemma facing creditors

[I]  Korea summit’s key negotiators poised for ‘zigzag’ talks

[I]  Germany braced for impact of US steel tariffs

[I]  Mario Draghi acknowledges ‘moderation’ in eurozone growth

[I]  Electric scooter boom faces US city limits

[I]  Trump administration picks the wrong time to ease up on banks

 

REUTERS

[I]  'A new history starts now' as leaders of two Koreas begin summit

[I]  India, China to court each other at informal summit in bid to re-set ties

[I]  China's March industrial profit growth slows sharply to over 1-year low

[I]  U.S. air force says trains in 'vicinity' of South China Sea

[I]  Mexico says NAFTA deal 'reasonably close' talks 'not easy'

[I]  U.S. hopeful Korea talks will achieve progress toward peace

[I]  Japan's March factory output beats expectations, inventories build up

[I]  Keen to end stimulus, ECB hails solid economic growth

[I]  Singapore March factory output up 5.9 percent, electronics solid

 

BLOOMBERG 

[I]  Are We Thinking About Tech IPOs All Wrong?

[I]  Brexit Ministers Feud Over Fish as May Battles to Unite Cabinet

[I]  Europe's Big Debt Drama Enters Finale as Clock Ticks for Greece

[I]  U.K. Consumer Confidence Drops

[I]  EU to City of London: Expect No Brexit Favors, We Don't Need You

[I]  Earliest China Data Signal Growth Intact at Slightly Weaker Pace

[I]  Japan's Insurers Debate Buying Naked U.S. Debt, Euro Switch

 

WALL STREET JOURNAL

[I]  Owning Is the New Renting: Homeownership Trends Upward as U.S. Loses Renter Households

[I]  U.S. Jobless Claims Drop to Lowest Level Since 1969

[I]  ECB Seeks Clarity on Economy Before Next Move

[I]  ECB Takeaways: Few Concerns, No Changes

[I]  Some Colleges Try to Burnish Student-Loan Default Rates

[I]  Business Investment Stalls in the First Months of 2018

[I]  Fewer High-School Grads Enrolled in College Last Year

[I]  Greece’s Business Prospects Brighten After Lost Decade

[I]  Financial Deregulation Throws Fuel on Already-Hot Economy

[I]  Chinese Tariffs Take Root in American Ginseng

 

BUSINESS LINE

[I]  India to grow 7.2%, remain fastest in FY19: Deloitte

[I]  Industry awaits GST return simplification

[I]  Over 35 lakh jobs created in six months till February, says NITI Aayog

[I]  India wants US to reconsider plan to ban spouses of H-1B holders from working

[I]  As NPAs rise, banks strengthen credit monitoring departments

[I]  Let-up in asset quality cheers investors ...

 

ECONOMIC TIMES

[I]  PAN-Aadhaar linkage doesn't curb scams: SC told

[I]  Govt bound to abide by collegium's decision: Experts

[I]  Contractors hoarding high-value notes: Tax dept

[I]  India keen on alliance with China, Japan, Korea: Govt

[I]  NITI Aayog and ITC to collaborate to transform agriculture and water sectors

[I]  Banking on normal monsoon, Centre sets record foodgrain target

[I]  To meet target, government has to add 167km of roads a day in 2018-19

[I]  Allow promoters to bid under IBC if not wilful defaulters: CII

[I]  Government considering national policy for retail trade

 

BUSINESS STANDARD

[I]  Global players cite instability, fight shy of buoyant Indian steel market

[I]  Profiling online shopper: Non-metros, regional languages new superstars

[I]  Export from Special Economic Zones jumped 18% in FY18

[I]  Status of rural bodies 25 years after the 73rd constitutional amendment

[I]  Non-banking finance companies ramp up commercial loans, says CRISIL

[I]  China-India trade volume rises 15% to $22.1 billion in Q1

[I]  Mumbai realtors may switch from residential to commercial projects

[I]  Economy in high gear, industry to start investing soon: CII President

 

MARKETS (9:00 am)       

[I]  SGX NIFTY Fut: 10656;  USDINR DGCX: 66.9650;  DJIA Mini: 24247;  FTSE 100 Fut: 7382;  NIKKEI 225 Fut: 22414;  EUR-USD: 1.2111; Crude Oil (WTI): 67.91;  Gold (Spot): 1317             

Best Regards, ARBIND

27 Apr 2018

GRATITUDE TO DIVINE PRESENCE OF LOVING AND CHEERFUL NATURE

Macro Economic News 26 Apr 2018

 

China is making good on President Xi Jinping’s promise to open the nation’s financial markets, while the dollar and Treasury yields continued their ascent. China granted additional quota for funds to invest in securities overseas for the first time in three years, easing capital curbs and further opening its $40 trillion financial sector. The Treasuries selloff continued Wednesday as 10-year notes failed to find buyers even above the pivotal 3 percent level. South Korean first quarter GDP, Australian import and export prices, Singapore industrial output and Hong Kong trade are among the economic data highlights before the main event gets underway in Europe with the ECB policy decision.

 

FINANCIAL TIMES

[I]  House prices boom in disputed West Bank settlements

[I]  North Korea summits fuel China fears over its Pyongyang influence

[I]  North Korea elite drop western websites to avoid online scrutiny

[I]  EU plans budget buffer to deal with future economic shocks

[I]  EU targets tech giants over unfair business practices

[I]  Trump to send team to China for trade talks

[I]  India’s Modi and China’s Xi gear up for summit

[I]  Turkey’s central bank raises rates for first time this year

 

REUTERS

[I]  Where's the money, RBI? Data shows India's old habits die hard

[I]  India shows jobs growth as more than 3 million join social security fund

[I]  China will crack down on money-laundering: central bank

[I]  South Korean economy bounces back in first quarter on exports, government spending

[I]  Global economy's hesitation unnerves markets

[I]  Global steel output rose 4 percent in March as China, U.S. produce more - worldsteel

 

BLOOMBERG 

[I]  Japan's Abe Says He's Not Thinking of Calling a Snap Election

[I]  Brexit Fuels Talk of United Ireland Even as Loyalists Hold Firm 

[I]  China Is Said to Mull Cutting Car Import Duty by About Half

[I]  Central Bankers Can’t Agree on Cryptocurrencies

[I]  Two-Year U.S. Yields at 2008 Highs Are Scarier Than a 3% 10-Year

[I]  China Anti-Graft Drive Targets Hong Kong Staff of Huarong: FT

[I]  Australia's $20 Billion Missed Opportunity Shows Revenue Problem

 

WALL STREET JOURNAL

[I]  Financial Deregulation Throws Fuel on Already-Hot Economy

[I]  U.S. New Home Sales Rose in March

[I]  U.S. Consumers More Confident in Economy

[I]  Nafta Proposal on Foreign Investments Jolts Energy Firms

[I]  Greece’s Business Prospects Brighten After Lost Decade

[I]  As ECB Contemplates Rate Move, Storm Clouds Gather

 

BUSINESS LINE

[I]  In FY18, Indian cos raised Rs. 6- lakh cr through bonds

[I]  Centre targets record foodgrain output this year

[I]  German firms eye Indian railway projects

[I]  India looking at feasibility of a preferential trade pact with Iran

[I]  FPIs ill at ease over new KYC norms

[I]  Researchers develop method to spot fake social media accounts

[I]  Mumbai city Development Plan gets the green signal, finally

[I]  Paying a high cost

 

ECONOMIC TIMES

[I]  Thousands of Indian families find their American dream in jeopardy

[I]  Employee tags for maids, drivers and cooks next on Modi govt's to-do list

[I]  India's global trade rises 16 per cent to $ 767.9 billion in 2017-18

[I]  India defends safeguard measures on solar cells opposed by EU, Japan in WTO

[I]  India, Mongolia to enhance bilateral trade, investments

[I]  EPFO, NPS data show 2.2 million formal jobs added in 6 months

[I]  Internet shutdown cost Indian economy $3 billion from 2012-17: Study

[I]  Labour Ministry revives National Policy to increase domestic helps' wages

[I]  Need for India to do well on human development index: Amitabh Kant

[I]  NITI to open applications for Atal New India Challenge tomorrow

[I]  The big paradox of doing business in India: Attractive at macro, challenging at micro

[I]  Bankruptcies are booming in India, but where are the judges?

[I]  India's ranking in press freedom falls to 138: RSF

 

BUSINESS STANDARD

[I]  Mumbai frees up 3,355 hectares of land to build 10 Bandra-Kurla complexes

[I]  As US 10-year Treasury yield hits 3%, nervousness grips Indian markets

[I]  With 1.57 bn accounts, 80% Indians save outside banks: World Bank

[I]  EPFO to inform members about contributions not deposited by firms

[I]  Pace of construction not proportionate with award of road contracts: Report

[I]  Bank credit grows 12% to Rs 85 trillion in fortnight ended April 13: RBI

 

MARKETS (10:00 am)

[I]  SGX NIFTY Fut: 10588;  USDINR DGCX: 67.1000;  DJIA Mini: 24098;  FTSE 100 Fut: 7341;  NIKKEI 225 Fut: 22335;  EUR-USD: 1.2177; Crude Oil (WTI): 68.43;  Gold (Spot): 1323

Best Regards, ARBIND

26 Apr 2018