MACRO ECONOMIC NEWS

WE ARE NEVER TOO OLD TO DREAM A NEW DREAM. WISHING A MAGICAL WEEKEND AHEAD.

Macro Economic News 27 Apr 2019

 

Surging global oil prices will pose a first big challenge to India's new government, whoever wins an election now under way, especially as domestic prices have been allowed to lag, meaning consumers are in for a painful surge as they catch up. The U.S. economy roared back in the first quarter, growing at a rapid pace of 3.2% despite multiple headwinds, suggesting the current expansion has more room to run amid its 10th year. Trump’s top economist said he is optimistic about the economy’s prospects in 2019 after a stronger-than-expected report on gross domestic product in the first quarter. Consumers’ outlook for the U.S. economy softened slightly in April even though it remained historically high. Trump expressed optimism for a new trade deal with Japan, but said Japanese tariffs on U.S. farm products must be lifted and suggested the U.S. could use levies on Japanese cars as leverage.

 

FINANCIAL TIMES

[I]  US economy surges with 3.2% first-quarter growth

[I]  Polarised Spain faces months of coalition talks

[I]  Iranian foreign minister defiant over US sanctions on oil

[I]  French employees face challenge to short-hours culture

[I]  Germany’s big banks are left grasping for answers

[I]  Big tech presents next chapter for UK gaming companies

 

REUTERS

[I]  Argentine peso ends rollercoaster week with record low close

[I]  Trump pulling U.S. out of U.N. arms treaty, heeding NRA

[I]  Europe wants to deal with China as a group: German minister

[I]  Good news from China could boost materials shares

[I]  Trump says sees possibility of U.S.-Japan trade deal by May

[I]  No wind-down for China on stopping its Iran oil buys: Trump officials

[I]  Trump says U.S. paid no money to North Korea over Warmbier

[I]  Libya's U.N.-backed government readies new war funding but hopes vital business to continue

[I]  Russia says it can fix tainted oil affecting Europe supplies soon

 

BLOOMBERG 

[I]  Europe Blew Up Financial Research -- Hedge Funds and U.S. Firms Won

[I]  Trump Gets GDP Boost He Needs for 2020, Along With Growth Risks

[I]  Oil Bulls on Longest Run in 13 Years as Trump Demands Price Cut

[I]  Philadelphia Hands Bond Deal to Banks It Says Have Fleeced the City

[I]  Colombia Holds Key Rate at 4.25% as Recovery Needs Support

[I]  Tradeweb’s 50% Rally Sets Stage for Questions About Debt Market

[I]  Oil Patch Cuts More Drilling as Rig Owner Sees Attitude Shift

 

WALL STREET JOURNAL

[I]  U.S. Economy Grew at 3.2% Rate in First Quarter

[I]  U.S. Consumer Sentiment Softened in April

[I]  Economic Growth ‘Really, Really Strong’ in First Quarter, Hassett Says

[I]  Trump Calls On Japan’s Abe to Lift Tariffs on U.S. Farm Goods

[I]  China’s Xi Vows New Direction for ‘Belt and Road’ After Criticism

[I]  U.S. Durable Orders Rose 2.7% in March, Faster Than Expected

[I]  Real Time Economics: Boom Goes U.S. GDP!

[I]  Real Time Economics: Business Investment Is Up, Homeownership Is Down

[I]  Boost to Growth Predicted Despite Shutdown, Storms and Trade Tensions

 

BUSINESS LINE

[I]  ‘Post-Brexit, UK’s new immigration system will benefit Indian students, workers’

[I]  ‘120 start-ups get patents under expedited examination process’

[I]  Geopolitics of oil and valuation of stocks

[I]  Climate change is the top agenda in UK

[I]  Systemic risks that escape the RBI’s radar

[I]  Declining storage levels in reservoirs a worry for farm sector

[I]  Liquidity deficit may last till end of elections: SBI

[I]  Total balance in Jan Dhan accounts touches Rs. 1-lakh cr

[I]  Non-deposit taking firms now come under ombudsman scheme for NBFCs

 

ECONOMIC TIMES

[I]  Forex reserve falls by $739 million to $414.14 billion

[I]  How China’s $13-T bond mkt may be trade war winner

[I]  In March, Private Equity, Venture Capital inflow hit all-time high of $7 billion

[I]  RBI extends ombudsman scheme to non-deposit taking NBFCs

[I]  Crypto currency is 'ponzi scheme', should be banned in India: Govt official

[I]  SC directs RBI to disclose information on bank inspection report under RTI

[I]  Resolution plans under IBC have yielded 200% of liquidation value: IBBI chief

[I]  Businesses can use IGST credit to settle centre, state tax dues: CBIC

[I]  Disclose defaulters list, NPAs of banks under RTI: SC gives final warning to RBI

 

BUSINESS STANDARD

[I]  Last chance for RBI to give info on bank inspection reports under RTI: SC

[I]  US embargo on Iran oil exports, BS-VI norms may hit auto sales: RC Bhargava

[I]  India's gaming industry heats up as investors court fantasy sports firms

[I]  Chinese brands corner two-thirds of India's smartphone market: Report

[I]  Oil prices tumble as Donald Trump dials Opec to lower gasoline prices

[I]  Retaliatory tariffs: India may extend deadline on 29 US items by 14 days

[I]  At $44 bn foreign interest, oil could be India's next geopolitical currency

 

Best Regards, ARBIND

27 Apr 2019