MACRO ECONOMIC NEWS

“I LOVE YOU STUPID, NO MATTER WHAT” SETS EVERYTHING RIGHT FOR YOUR NEAR AND DEAR. WISHING A MAGICAL DAY AHEAD.

Macro Economic News 21 May 2019

 

New data show people are in worse financial shape than every preceding living generation, and may never recover. Their woes have delayed traditional adult milestones in ways expected to alter demographic and economic contours. Europe’s central banks haven’t been able to wean the Eurozone from cheap money, which distorts economies and leaves little ammunition to cushion the next downturn. Spending on factories, equipment and other capital goods slowed in the first quarter among a broad cross-section of large, U.S.-listed firms, bolstering investor concerns that a key driver of economic growth is fading. FED Chairman Jerome Powell said financial regulators must take seriously potential dangers that rising levels of business debt pose to the U.S. economy but said some comparisons to last decade’s subprime mortgage bubble overstate the risks. The US and China are digging in for a longer, costlier trade war. Beijing accused Washington of harboring "extravagant expectations" for a deal to end their dispute. U.S. President Donald Trump issued a new threat to Tehran, tweeting that a conflict would be the "official end" of Iran, as Saudi Arabia warned it stood ready to respond with "all strength" and said it was up to Iran to avoid war.

 

FINANCIAL TIMES

[I]  Capitalism’s social value may now be in question

[I]  Japan’s economy defies forecasts of Q1 slowdown

[I]  Trump warns Iran it will never develop nuclear arsenal

[I]  Disinformation war shifts ground ahead of EU elections

[I]  Indonesia’s next president faces hurdles on the economy

[I]  European companies forced to hand tech to China

[I]  Credit quality declines at big US business lenders

[I]  Tax reform typo creates costly headache for US retailers

 

REUTERS

[I]  Singapore downgrades 2019 GDP forecast as first-quarter growth hits decade low

[I]  Australian regulator to ease assessment criteria on mortgage affordability

[I]  U.S. eases some restrictions on China's Huawei to keep networks operating

[I]  Brazil government to freeze $1.2 billion, cut growth estimates -sources

[I]  Worries of longer, costlier U.S.-China trade war hits markets

[I]  Fed's Powell: Business debt no subprime crisis, but still merits reflection

 

BLOOMBERG 

[I]  China Warns About ‘Unwavering Resolve’ to Fight U.S. ‘Bullying’

[I]  Indonesia Stocks Are Having a Bad Year. It Could Get Worse

[I]  Record-Breaking Kiwi Stocks Overtake China as Asia's Best Market

[I]  SEC Again Postpones Long-Awaited Decision on a Bitcoin ETF

[I]  OPEC Founder Venezuela Pumps Less Oil Than Three of Its Neighbors

[I]  U.S. Corn Planting Is Slowest on Record for This Time of Year

[I]  Singapore's Economy Gains 3.8% as Construction Rebounds

[I]  The Trade War Is Keeping Foreigners Away From China Markets

 

WALL STREET JOURNAL

[I]  Negative Rates, Designed as a Short-Term Jolt, Have Become an Addiction

[I]  ‘Playing Catch-Up in the Game of Life.’ Millennials Approach Middle Age in Crisis

[I]  Fed’s Williams Says It’s ‘Good’ Economy Can Have Strong Job Market Without Inflation

[I]  Fed’s Harker: Monetary Policy Can’t Be Run on Rules Alone

[I]  Real Time Economics: The U.S.-China Trade Battle is Spilling Into Your Smartphone

[I]  Big Companies Tightened Spending as Trade Fears Intensified

[I]  Fed’s Powell Warns of Economic Risks From Rising Business Debt

 

BUSINESS LINE

[I]  High Court issues notice to Centre and Delhi govt on ‘blocked credits’ under GST

[I]  Your health policy may soon cover all flanks

[I]  WTO: US seeks to join Japan-India consultations on IT product tariffs

[I]  PE inflows into Indian retail double to $1.2 b in 2 years

[I]  Drought: Maharashtra sugarcane output set to shrink next season

[I]  IRDAI proposes higher third-party premium for cars, two-wheelers

 

ECONOMIC TIMES

[I]  NITI Aayog boss speaks on revving up the economic engine

[I]  Inside RBI's blueprint for the NBFC rescue

[I]  WTO warns trade weakness to continue in Q2 as global indicator remains at 9-year low

[I]  Gold imports rise 54 per cent to $3.97 billion in April

[I]  India looks to fight alone at WTO on global e-commerce rules

[I]  India may witness longer slowdown as oil imports, consumption decline

 

BUSINESS STANDARD

[I]  Corporate earnings may disappoint again: 564 firms' combined net down 10%

[I]  Client spend in BFSI, health care to hit IT outsourcing opportunity

[I]  Trade growth slowdown likely to worsen amid tariff war, says WTO

[I]  Revamp of labour conference may give boost to reforms in key laws

[I]  HC allows input tax credit under GST regime to realtor making shopping mall

[I]  SC to hear Centre's plea on applicability of black money law today

[I]  In a first, Maharashtra proposes single-window registration of land titles

 

MARKETS (07:00 am)

[I]  SGX NIFTY Fut: 11871;  USDINR DGCX:69.8900;  DJIA Mini: 25764;  FTSE 100 Fut: 7308;  NIKKEI 225 Fut: 21199;  EUR-USD: 1.1165; Crude Oil (WTI): 63.30;  Gold (Spot): 1276

 

Best Regards, ARBIND
21 May 2019