MACRO ECONOMIC NEWS

SMILE IS THE LANGUAGE OF SILENCE BEYOND SCIENCE. WISHING A FABULOUS DAY AHEAD.

Macro Economic News 23 Apr 2019

 

Sri Lanka said it was invoking emergency powers in the aftermath of devastating bomb attacks on hotels and churches. The United States demanded that buyers of Iranian oil stop purchases by May 1 or face sanctions, sending crude prices to six-month highs on fears of a potential supply crunch. Herman Cain withdrew from consideration for the Federal Reserve board. The US Social Security program’s costs will exceed its income in 2020 for the first time since 1982, forcing the program to dip into its nearly $3 trillion trust fund to cover benefits. Even as a U.S.-China trade accord apparently nears completion, rattled businesses on both sides of the Pacific are skittish about rushing back in to revive the once-booming investment activity between the two countries.

 

FINANCIAL TIMES

[I]  US ends sanctions waivers on Iranian oil imports

[I]  Argentina’s growing poverty raises tough questions for IMF

[I]  Trump warned against keeping tariffs on Chinese goods

[I]  Rising fees unsettle private equity investors

[I]  A new era requires an optimistic new model in Japan

[I]  Brexit has a chance to kick-start a period of radical change

 

REUTERS

[I]  Sri Lanka says international network involved in attacks, imposes emergency

[I]  BOJ signals readiness to combine steps if more stimulus needed

[I]  U.S. to end all waivers on imports of Iranian oil, crude price jumps

[I]  Japan expects limited impact from U.S. move to scrap Iran oil sanctions waivers

[I]  Japan sees limited impact from U.S. decision on Iran sanctions: minister

[I]  U.S. home sales tumble as supply constraints linger

[I]  China should fine-tune monetary policy based on economic growth, price changes: Xinhua

 

BLOOMBERG 

[I]  Homeowners Hurt by Mortgage Scam Seek Role in Ditech Bankruptcy

[I]  Citi Says ‘Be Brave’ and Buy Argentine Stocks

[I]  How Trump's Stifling of Iran Waivers Affects the OPEC+ Oil Cuts

[I]  Goldman Sachs Earth Day Impact Report Shows Change Isn’t Easy

 

WALL STREET JOURNAL

[I]  Cain Withdraws From Fed Board Nomination Process

[I]  Social Security Costs to Exceed Income in 2020, Trustees Say

[I]  Searching for Answers: Census Case Points to Falling Survey-Response Rates

[I]  Transcript: WSJ Interview With Chicago Fed President Charles Evans

[I]  Trade Deal Alone Won’t Fix Strained U.S.-China Business Relations

 

BUSINESS LINE

[I]  Trump moves to end Iran oil waiver; India to raise issue

[I]  Direct benefit transfer of subsidies crosses Rs. 3-lakh-cr mark in 2018-19

[I]  Indian 2-wheelers scorching the track in overseas markets

[I]  Capital goods need a policy overhaul

[I]  China’s trade with other Asian countries — A mixed bag

[I]  Met Department declares watch for first pre-monsoon depression in Bay

[I]  Insurers bearing the burden of low-premium life cover PMJJBY

 

ECONOMIC TIMES

[I]  How RBI dollar auction is helping NBFCs

[I]  Soon, fintech cos can disrupt without fear

[I]  Oil prices hover near 2019 highs after US ends all Iran sanction waivers

[I]  Rupee falls 47 paise to 69.82 against US dollar in early trade

[I]  Currency in circulation jumps Rs 37,830 crore since March 31

[I]  US warns India, other nations over Iranian oil imports

[I]  RBI consultation to change 25 bps cut norm soon

[I]  Irregularities of more than Rs 1 lakh cr found in cos under Insolvency and Bankruptcy Code

 

BUSINESS STANDARD

[I]  US ends Iran oil import waivers; no supply woes for India, say marketers

[I]  Domestic air passenger growth slows to 0.14%, ends 4-year record

[I]  RBI committee to peg excess capital at Rs 3 trillion, says BofAML

[I]  Credit risk funds back on investors' radar as debt paper spreads widen

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11627;  USDINR DGCX: 69.7800;  DJIA Mini: 26500;  FTSE 100 Fut: 7427;  NIKKEI 225 Fut: 22161;  EUR-USD: 1.1249; Crude Oil (WTI): 65.70;  Gold (Spot): 1275

 

Best Regards, ARBIND

23 Apr 2019