MACRO ECONOMIC NEWS

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Macro Economic News 16 May 2019

 

Met dept sees delay in southwest monsoon, Kerala to get rains on June 6. IT hiring in India hits an 8-year high. Indian trade deficit in April widens to $15.33 billion. Australia jobless rate jumps to eight-month highs, Australian dollar stumbles. Weak U.S. retail sales, industrial output highlight slowing economy. World economy rebound thrown into doubt by escalating trade war. Escalating tariffs between the U.S. and China have fueled a debate over who is actually paying—but the answer isn’t straightforward because the person paying the tariff doesn’t necessarily bear its burden. Spending at U.S. retailers declined in April, signaling hesitation among consumers. The U.S. birth rate fell to a 32-year low, deepening a fertility slump that is reshaping America’s future workforce. Alabama governor signs nation's most restrictive anti-abortion law. Germany’s economy rebounded in the first quarter after narrowly avoiding recession late last year, easing the immediate pressure on policy makers in Europe as the outlook continues to darken for global trade.

 

FINANCIAL TIMES

[I]  Trump to delay car tariffs decision by up to 6 months

[I]  US consumers start to pay price of trade war with China

[I]  German economy rebounds in first quarter

[I]  Tension in Italy coalition fuels talk of split

[I]  Khan swallows pride to clinch toughest IMF bailout yet

[I]  German authorities raid 14 banks in offshore tax fraud probe

[I]  Foreign companies in China face cyber security crackdown

[I]  The US needs antitrust law for the 21st century

[I]  Electioneering has pushed the Indian economy aside

 

REUTERS

[I]  China April home price growth solid, big cities lead in sign of broadening strength

[I]  Australia jobless rate jumps to eight-month highs, Australian dollar stumbles

[I]  Oil extends gains into third session amid Middle East tensions

[I]  April trade deficit widens to $15.33 billion

[I]  Monsoon to hit India on June 6: IMD

[I]  Fed's Barkin watching effect of U.S.-China trade dispute on business confidence

[I]  Weak U.S. retail sales, industrial output highlight slowing economy

 

BLOOMBERG 

[I]  Investors Are Dumping These Southeast Asia Funds

[I]  Global ‘Wall of Worry’ Feeds Rush for Treasuries as Risks Mount

[I]  Secret Bond Deals Making China's Debt Market More Confusing

[I]  Quants Think Like Amateurs in World’s Wildest Stock Market

[I]  World Economy Rebound Thrown Into Doubt by Escalating Trade War

[I]  China Housing a Bright Spot in Soggy Economy as Prices Gain

[I]  Australia Unemployment Rises, Boosting Odds of Interest-Rate Cut

[I]  Fear of Election ‘Bolt From the Blue’ Has India Markets Worried

[I]  Funding Crisis to Worsen Unless India Pumps In Cash, Kotak Says

 

WALL STREET JOURNAL

[I]  Who Pays the Trump Tariffs? We Do, These Americans Say

[I]  Retail Sales Declined in April

[I]  Trump Administration Delays Decision on Car Tariffs

[I]  U.S. Births Fall to Lowest Level Since 1980s

[I]  U.S. Industrial Production Dropped in April

[I]  Germany’s Economy Rebounds Despite Darkening Trade Outlook

[I]  U.S. Economy Lost Some Steam at Start of Second Quarter

 

BUSINESS LINE

[I]  June 6 is D-Day for the monsoon, says IMD

[I]  Export growth almost flat in April; imports rise 4.5%

[I]  Lawmakers look set to vote down May’s Brexit plans

[I]  Container freight stations, warehouses seek exclusion from higher fire-risk category

[I]  Home buyers to pay higher GST on balance payment even if occupancy certificate is issued before April 1

[I]  Government to disinvest 15% in RITES to raise nearly Rs. 700 crore

[I]  Insurers find it hard to offload downgraded paper of NBFCs

[I]  Insurers slow to respond to emerging risks, says report

 

ECONOMIC TIMES

[I]  IT hiring in India hits an 8-year high

[I]  India backs French initiative to combat terror

[I]  Maha drought worse than 1972: Sharad Pawar

[I]  GST anti-profiteering body may get fresh lease of life

[I]  RBI releases payments systems roadmap for a ‘cash-lite’ India

[I]  National business register: A record of all business enterprises in the country

[I]  Iran sanctions: Indo-Afghan Banking via Chabahar Port hit

[I]  India's services exports rise 6.6% to $17.94 bn in March

[I]  US-China trade war: Chinese investment in India may be imminent, says Anand Mahindra

 

BUSINESS STANDARD

[I]  GDP likely to grow at around 7% in FY20: CEA Krishnamurthy Subramanian

[I]  Slowdown in automobile sales forces parts makers to tread with caution

[I]  VCs, PE firms bet big on packaged consumer goods, park $676 mn in 2018

[I]  Higher GST will apply to dues on finished real estate projects: CBIC

[I]  FinMin, RBI try to cobble together consensus on economic outlook

[I]  RBI's vision 2021 looks at a 'cash-lite' society, cyber security, and more

[I]  Met dept sees delay in southwest monsoon, Kerala to get rains on June 6

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 11185;  USDINR DGCX:70.4175;  DJIA Mini: 25628;  FTSE 100 Fut: 7255;  NIKKEI 225 Fut: 21056;  EUR-USD: 1.1208; Crude Oil (WTI): 62.42;  Gold (Spot): 1296

 

Best Regards, ARBIND

16 May 2019