MACRO ECONOMIC NEWS

IT IS GOOD TO TAKE A PAUSE IN THE PURSUIT OF HAPPINESS AND JUST BE HAPPY. WISHING A CHEERFUL DAY AHEAD.

Macro Economic News 03 Apr 2019

 

The Turkish ruling party’s apparent loss of the country’s two biggest cities risks disrupting its well-honed system of political patronage and President Recep Tayyip Erdogan’s ability to fix an ailing economy. Major auto makers posted declines in U.S. sales for the first quarter, adding pressure on car companies already grappling with weaker conditions in important markets globally.  Cities around the world, from New York to London to Stockholm to Sydney, are struggling to solve growing affordable housing crises. Orders for long-lasting factory goods dropped in February after three straight months of growth due to a sharp decline in civilian aircraft orders, although the overall drop was smaller than expected.

 

FINANCIAL TIMES

[I]  EU draws up strict conditions for Brexit extension

[I]  Israelis learn to stomach Netanyahu as economy lifts mood

[I]  Barnier warns no-deal Brexit is increasingly likely

[I]  Taiwan warns of fake news amid China meddling fears

[I]  WTO warns of ‘strong headwinds’ in global trade

[I]  China’s central bank asks police to probe fake report

[I]  Saudi women cook up a revolution in food trade

[I]  Australian government unveils pre-election tax cuts

[I]  US shopping centre vacancies rise to eight-year high

 

REUTERS

[I]  Supreme Court quashes RBI directive on resolving bad debt

[I]  Trade war, Brexit could slow developing Asia's 2019, 2020 growth: ADB

[I]  China March services activity quickens to 14-month high in further sign of recovery: Caixin PMI

[I]  Yen slips, Aussie rises as worries recede over U.S.-China trade

[I]  Trump says NATO countries' burden-sharing improving, wants more

[I]  Global wind power capacity to grow 50 pct by 2023: industry group

[I]  Trade war, Brexit could slow developing Asia's 2019, 2020 growth: ADB

[I]  Japan's March services PMI shows slightly slower growth

[I]  South Korea fin min says will draft extra budget of less than 9 trillion won by April-end

 

BLOOMBERG 

[I]  U.K.’s May Seeks Deal With Labour to Break Brexit ‘Logjam’

[I]  A Long-Lost Hedge Fund Hub Is Slowly Emerging From the Shadows

[I]  This Time Is Different for the Yield Curve? They Said That Last Time

[I]  China-U.S. Trade Talks Enter Crunch Period as Liu Arrives in DC

[I]  Growth Outlooks for India and Southeast Asia Cut by Asian Development Bank

[I]  New Registry Plans to Expose Hidden Vancouver Property Owners

 

WALL STREET JOURNAL

[I]  U.S. Auto Sales Stumbled in First Quarter

[I]  Affordable Housing Crisis Spreads Throughout World

[I]  What Modern Monetary Theory Gets Right and Wrong

[I]  U.S. Durable-Goods Orders Fell in February

[I]  Turkish Vote Clouds Erdogan’s Economic Control

[I]  Real Time Economics: Manufacturing Shows Signs of Life

 

BUSINESS LINE

[I]  In blow to IBC, apex court strikes down RBI’s Feb 2018 NPA order

[I]  ‘Nearly 70% chances of El Nino this year’

[I]  With election round the corner, Rs. 2,000 notes get scarce

[I]  WTO sees trade tensions hitting volumes in 2019

[I]  Govt to discuss strategy to boost exports to China

[I]  Rating agencies see further delay in resolution process of stressed assets

[I]  A chance for promoters to pull out distressed companies

 

ECONOMIC TIMES

[I]  FY19 exports may be highest ever at $330 billion

[I]  India sets up institute in Africa to augment agrarian economy

[I]  European Union launches WTO cases against India, Turkey

[I]  Manufacturing slumps to 6-month low in March but biz sentiment up

[I]  Greater clarity required on data sharing, CII on draft e-comm policy

[I]  Wages rise under MGNREGA with EC endorsement

 

BUSINESS STANDARD

[I]  Industry slams draft national e-commerce policy, calls it vague

[I]  Boycott calls for Chinese handsets ignore reality of India's chipset market

[I]  Two-wheeler sales continue to fall in March; pull down overall sales

[I]  WTO trims global trade growth forecast for 2019 to 2.6% from 3.7%

[I]  Indian Railways targets at least 50% of freight traffic by 2030

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 11795;  USDINR DGCX: 69.0675;  DJIA Mini: 26235;  FTSE 100 Fut: 7324;  NIKKEI 225 Fut: 21705;  EUR-USD: 1.1221; Crude Oil (WTI): 62.78;  Gold (Spot): 1293

 

Best Regards, ARBIND
03 Apr 2019