MACRO ECONOMIC NEWS

ACKNOWLEDGING THE GOLD, PRESENT IN OUR LIFE, IS THE FOUNDATION FOR ABUNDANCE. WISHING A GOLDEN DAY AHEAD.

Macro Economic News 07 May 2019

 

India and the United States will engage regularly to resolve outstanding trade issues. China backtracked on substantial commitments it made during trade talks with the United States, prompting President Donald Trump to impose additional tariffs on Chinese goods slated to go into effect on Friday. Prospects for a speedy conclusion to the U.S.-China trade fight dimmed after U.S. vowed to raise tariffs on $200 billion in Chinese imports to 25%. The Federal Reserve identified rising sales of risky corporate debt as a top vulnerability facing the U.S. financial system, according to a new report.

 

FINANCIAL TIMES

[I]  Trump trade threat rattles global markets

[I]  US to deploy aircraft carrier in ‘clear message’ to Iran

[I]  Extinctions increasing at unprecedented pace, UN warns 

[I]  Czech banks hit after prime minister’s dividends proposal

[I]  A new Brexit divide is driving UK to a second vote

[I]  Trump’s latest China tariff threat is just bluster

[I]  Honest debate on social care in the UK is overdue

 

REUTERS

[I]  Asia shares linger near five-week low amid renewed US-China trade jitters

[I]  Oil mixed, caught between U.S. sanctions on Iran, Venezuela and trade dispute with China

[I]  Japan April manufacturing PMI returns to expansion but export orders, output still falling

[I]  India, U.S. to engage regularly to resolve trade issues, says govt 

[I]  U.S.: China reneged on trade commitments, sparking Trump tariff hike

[I]  U.S. says China reneged on trade commitments, talks continue

[I]  Fed flags high U.S. business debt, asset prices in financial report

[I]  China gives modest boost to economy with RRR cut amid renewed trade tensions

 

BLOOMBERG 

[I]  U.S. Says It Will Raise Tariffs After China Reneges on Vows

[I]  Rout in China Stocks Is Poised to Worsen After U.S. Trade Comments

[I]  Foreigners Keep Buying Saudi Shares. Read This on a Loop

[I]  Australia Pension Giant Doubles Down on Push for Woman Directors

[I]  Tariff Hike On, Fed Cut Prospect, Aussie's RBA Wobbles: Eco Day

[I]  South African Assets Signal Rising Anxiety as Election Nears

[I]  Record India GST Collection an Exception Rather Than the Rule

[I]  Indonesia Chases Manufacturing Hub Dream as Commodities Wither

 

WALL STREET JOURNAL

[I]  White House Ratchets Up Trade Fight

[I]  Tariff Threats Pose Challenge for China’s Xi to Keep Talks on Track

[I]  Fed Flags Risky Business Debt as Vulnerability for Financial System

[I]  Fed’s Harker Expects One More Rate Hike in 2019 and Another in 2020

[I]  Moore, Cain Withdrawals Re-Up Search for Supporters on Fed Board

[I]  Real Time Economics: Trump Threatens to Ramp Up China Tariffs

 

BUSINESS LINE

[I]  Can’t ensure cheaper oil for India, says US

[I]  Markets bleed as US-China trade talks break down

[I]  Industry bodies list key issues for GST Council meet next month

[I]  New insider-trading norms see firms rushing to beef up digital compliance

[I]  IT majors rejig retention strategy as more junior staff head for exit door

[I]  With no takers, Rs. 10 coins piling up at banks

[I]  RBI enhances housing-loan limits under priority sector lending for RRBs, SFBs

 

ECONOMIC TIMES

[I]  Is Europe going too far to rein in tech titans?

[I]  Yen firms, yuan falls as Trump escalates China trade war

[I]  Corp bond market turmoil unlikely to dent NPS returns

[I]  For India Inc, hunt for talent goes beyond cos’ core biz

[I]  India's services sector output growth at 7-month low in April: PMI

 

BUSINESS STANDARD

[I]  Policy to boost exports on anvil as trade deficit hits new high of $176 bn

[I]  RBI's voluntary retention route sees muted response from foreign investors

[I]  M&A deals in hospital sector hit a five-year high, says Icra report

[I]  E-filing of tax returns saw 19% growth in AY19, says Finance Ministry

[I]  Services sector growth at 7-month low in April, hit by Lok Sabha polls

[I]  MSMEs forced to approach moneylenders as PSBs steer clear despite govt push

[I]  India wants upcoming mini-ministerial to focus on trade protectionism

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11698;  USDINR DGCX:69.5775;  DJIA Mini: 26283;  FTSE 100 Fut: 7323;  NIKKEI 225 Fut: 22076;  EUR-USD: 1.1204; Crude Oil (WTI): 62.28;  Gold (Spot): 1283

 

Best Regards, ARBIND
07 May 2019