MACRO ECONOMIC NEWS

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Macro Economic News 16 Apr 2019

 

With the global economy slowing and showing signs that it may need support, economists are pointing at Germany and a few other countries that are in a position to provide a lot of stimulus but are instead choosing not to. Former Federal Reserve officials and foreign central bankers say President Trump’s combative stance toward the U.S. central bank could over time weaken the institution and its role in the global economy. You don’t need a Ph.D. to serve on the Federal Reserve. The debate, rather, is whether economics and economic models are useful tools for central bankers. The Federal Reserve’s interest-rate projection communication tool may be losing popularity with some at the central bank, but Chicago Fed leader Charles Evans remains a fan.

 

FINANCIAL TIMES

[I]  EU to seek rapid tariff-reduction deal with the US

[I]  ECB faces stimulus pressure over inflation outlook

[I]  Malaysia renegotiated China rail project to avoid $5bn fee

[I]  South Korea seeks talks with Kim to rescue nuclear deal

[I]  Poland’s ruling party rolls out tax cut in elections bid

[I]  US hedge funds face court battle with Indonesia mining group

[I]  Like banking, conduct in business needs regulating

[I]  Brexit has broken UK politics, not the constitution

 

REUTERS

[I]  India gold smuggling slowed by election seizures of cash, bullion

[I]  BOJ's Kuroda vows to patiently continue current monetary stimulus

[I]  Major currencies tread water ahead of euro zone, China data

[I]  Asia stocks hover below nine-month peak after Wall Street stalls

[I]  India's March exports pick up, help contain trade deficit

[I]  Trump on China trade spat: 'We're going to win either way'

[I]  March WPI inflation accelerates to 3.18 percent

[I]  Fed should 'communicate comfort' with slightly higher inflation: Evans

[I]  Pakistan reaches an 'agreement in principle' with IMF over bailout package: minister

[I]  IMF deal hopes nudge Pakistan bonds towards year-long highs

 

BLOOMBERG 

[I]  $4 Trillion Stock Rally Has Buyers Flooding World's Largest ETF

[I]  An FX Volatility Explosion May Be Lurking Around the Corner

[I]  A 48-Hour Reporting Delay Could Be Coming for Corporate Debt

[I]  Global Stocks Would Outperform U.S. in Market Sell-Off: Morgan Stanley

[I]  China Home Price Growth Accelerates After Credit Makes Comeback

[I]  RBA Discussed Cutting Rates But Saw No Near-Term Case for a Move

[I]  Bond Rally in India Soon Faces Another Headwind: Monsoon Season

[I]  India Cuts Trade Deficit With China by $10 Billion, Sources Say

[I]  The World's Worst Major Stock Market Is Really, Really Boring

 

WALL STREET JOURNAL

[I]  Fed Official Open to Adopting an Inflation Target Range

[I]  Fed’s Evans: Rate Rises Still Possible If Economy Meets Expectations

[I]  Trump’s Fed Attacks Cast a Chill at Global Finance Gathering

[I]  What You Need to Be on the Fed...and It Isn’t a Ph.D.

[I]  Fed’s Evans Defends Dot Plots, Gives Primer in How to Read Them

[I]  Economy Week Ahead: International Trade, Consumer Spending

[I]  At the IMF, Germany Comes Under Pressure to Stimulate Growth

 

BUSINESS LINE

[I]  Monsoon will be normal, onset may be delayed: IMD

[I]  India provides spark as multiple headwinds see VC deals dip across major markets

[I]  OTT players taking sachet route to mass market

[I]  Cabinet committee extends duration of new urea policy

[I]  Interest-free security deposit for lease will not attract GST, rules AAR

[I]  IMD predicts good spread of rains this monsoon

[I]  PE, venture capital investments at a high in the first quarter of 2019

 

ECONOMIC TIMES

[I]  The tool errant India Inc managers have come to fear

[I]  Yen near this year's lows as risk appetite improves

[I]  Ex-IT CEOs see a second coming as mentors to young firms

[I]  Companies hunt for CEOs with high EQ and humility

[I]  Govt eyeing Rs 50,000-cr of public procurement through GeM in FY'20

[I]  Exports grow to five-month high of 11% in March; trade deficit narrows

[I]  China may have found a way to keep India in the dark over trade deficit

[I]  Major decline in India's steel export to US, increase in aluminum: Report

[I]  Limited Liability Partnership framework revamp in the works

 

BUSINESS STANDARD

[I]  IMD predicts normal and well distributed monsoon, raising hopes for farming

[I]  It's raining forex in Indian economy with equity, bond deals in pipeline

[I]  VC investment in India is expected to be buoyant throughout the year: KPMG

[I]  India's trade deficit reaches a record high of $176 billion in 2018-19

[I]  Small and medium sugar millers' margins will get sweeter: CRISIL

[I]  Economic growth to end extreme poverty in India by 2031: Arun Jaitley

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11755;  USDINR DGCX: 69.5900;  DJIA Mini: 26399;  FTSE 100 Fut: 7388;  NIKKEI 225 Fut: 22172;  EUR-USD: 1.1298; Crude Oil (WTI): 63.30;  Gold (Spot): 1286

 

Best Regards, ARBIND

16 Apr 2019