MACRO ECONOMIC NEWS

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Macro Economic News 04 Apr 2019

An International Monetary Fund report highlights that an escalation of the U.S.-China trade war would drive manufacturing away from both countries and likely cause job losses, but would not change their total trade balances. The Trump administration’s demand that punitive tariffs remain to ensure Beijing enacts genuine overhauls has emerged as one of the biggest sticking points as U.S. and Chinese trade negotiators opened new face-to-face talks aimed at a deal. The U.S. private sector added 129,000 jobs in March, well below expectations. The U.S. services sector expanded at a slower pace last month, a sign that a key segment of the economy continues to cool. 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]  May takes huge gamble with Labour talks

[I]  Great Barrier Reef at risk of failing due to global warming

[I]  EU steps up rule-of-law dispute with Poland and Romania

[I]  Pence hits out at two allies over Nato commitments

[I]  US and China draw closer to final trade agreement

[I]  China triples investment in emerging Asia on trade war

[I]  US tech groups push back on Australia social media law

 

REUTERS

[I]  Global Markets: Asian shares near 8-month highs, eyes on U.S.-China talks

[I]  Euro firms on trade optimism, sterling higher after Brexit vote

[I]  Saudi Arabia pledges $1 billion for Iraq at start of economic visit

[I]  BOJ Kuroda: Must scrutinize impact of easy policy on regional banks

[I]  Asian shares near eight-month highs, eyes on U.S.-China talks

[I]  Escalating U.S.-China trade war to hit manufacturing jobs: IMF

[I]  Brexit delay law approved by UK's House of Commons

[I]  NATO chief warns of Russia threat, urges unity in U.S. address

[I]  PM Abe says Japan must proceed with sales tax hike

 

BLOOMBERG 

[I]  U.S. Sets 2025 Target for China to Fulfill Trade Pledges, Sources Say

[I]  India Decision-Day Guide: a Back-to-Back Rate Cut Is in Store

[I]  A Hundred Days Later, Tech Stocks Poised to Erase Their Whole Rout

[I]  The Decade of Deleveraging Didn’t Quite Turn Out That Way

[I]  France Reaps Brexit Benefits as U.K. Investments Rise

[I]  Venezuela Bondholders Get Warning Inside Manhattan Law Office

 

WALL STREET JOURNAL

[I]  Tariffs Take Center Stage in U.S.-China Trade Talks

[I]  Few Winners, Many Losers From Trade Tariffs, IMF Finds

[I]  U.S. Private Sector Added 129,000 Jobs in March

[I]  U.S. Services-Sector Growth Cooled in March

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

 

BUSINESS LINE

[I]  Hotel rooms: Independent/unbranded segment still dominates with 72% share

[I]  Insolvency professionals to administer refunds to investors

[I]  Brexit and lessons for the Indian media

[I]  How SC order on pension scheme alters your EPF plans

[I]  MSMEs need low-cost funds to scale up rooftop solar capacity: Deloitte

[I]  Average ethanol blending from December to March increases by 8 per cent

 

ECONOMIC TIMES

[I]  EU, Russia, Costa Rica seeks to join consultations in WTO dispute over India's sugar subsidies

[I]  Exports in March to reach $32.38 billion; over $330 billion in 2018-19: Suresh Prabhu

[I]  New investment proposals in 2018-19 lowest in 14 years

[I]  India set to grow at 7.2% this fiscal on rising consumption: ADB

[I]  Govt, RBI will have to bring new rules on NPA after SC order: Amitabh Kant

[I]  Ruling may derail resolutions, open the way for more litigation

 

BUSINESS STANDARD

[I]  Indian Railways receives boost from govt to finance strategic projects

[I]  Tax board's proposal of lowering budget target to Rs 11.3 trn shot down

[I]  SC order on RBI circular: More options for banks to tackle defaulting firms

[I]  Developers can't have agreements biased against buyers, rules SC

[I]  Want to leave EU with an exit deal on May 22, says Theresa May

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 11743;  USDINR DGCX: 68.8100;  DJIA Mini: 26301;  FTSE 100 Fut: 7333;  NIKKEI 225 Fut: 21765;  EUR-USD: 1.1244; Crude Oil (WTI): 62.40;  Gold (Spot): 1291

 

Best Regards, ARBIND
04 Apr 2019