MACRO ECONOMIC NEWS

LET OUR LIFE LIGHTLY DANCE ON THE EDGES OF TIME LIKE DEW ON THE TIP OF A LEAF. WISHING A DELIGHTFUL  DAY AHEAD.

Macro Economic News 09 May 2019

 

Brazil’s central bank kept its benchmark lending rate unchanged amid sluggish economic growth and expectations of slowing inflation. European Union leaders meeting to chart a way forward after the historic setback of Brexit and to have their first go at picking people to fill the bloc's top jobs later this year. Taiwan will strengthen ties with India's new government, including more official visits, despite China's continuing efforts to isolate what it considers to be a wayward province. The new hard line taken by China in trade talks came after Beijing interpreted recent statements and actions by President Trump as a sign the U.S. was ready to make concessions. The US central bank is ready to respond to climate-change related disruptions to the economy and is working to ensure banks’ resilience.

 

FINANCIAL TIMES

[I]  Iran warned over dangers of reviving nuclear activity

[I]  US hits Iran with sanctions on metals sectors

[I]  Trump turns the screw in US-China trade dispute

[I]  US economic strength adds power to Donald Trump’s elbow

[I]  German industrial activity points to economic resilience

[I]  Government agency reveals new gaps in India GDP data

[I]  New Zealand urged to ban foreign donations to counter Chinese

 

REUTERS

[I]  Taiwan to improve ties with India, official says, despite Chinese disfavour

[I]  Trump says Beijing 'broke' trade talk deals, pledges to keep tariffs on Chinese goods

[I]  BOJ's Kuroda: Price stability is key to market trust in yen

[I]  Damaged by Brexit, EU heads meet in Romania to chart bloc's next steps

[I]  Dollar hovers near six-week low vs. yen as U.S.-China trade talks awaited

[I]  Post-Brexit customs union would make Britain 3 percent poorer - NIESR

[I]  UK housing market shows scant sign of recovery in April: RICS

 

BLOOMBERG 

[I]  Trump Says China ‘Broke the Deal’ in Trade Talks With U.S.

[I]  China Retaliation Risk, Fed Rate Review, Mahathir Fail: Eco Day

[I]  Philippines Economic Growth Slows to Four-Year Low of 5.6%

[I]  Shadow Banks Feel Sting as Indian Mutual Funds Cut Debt Exposure

[I]  U.K. Property Market Still Subdued as Brexit Weighs on Prices

[I]  ‘Crazy Premiums’ for Gold Assets Are Over, Says Mining CEO

[I]  Wall Street's Muni-Bond Trading Giants Are Losing Business to Rivals

 

WALL STREET JOURNAL

[I]  Beijing Plays Hardball on Trade

[I]  Consumers Could Be Hit as New Front Opens in U.S.-China Trade Fight

[I]  Trade Shifts From Growth Engine to Potential Drag for China

[I]  Fed Readying Financial System for Climate-Change Shocks

[I]  Trump Considers Poverty-Gauge Change That Could Trim Rolls on Aid Programs

[I]  Delays to Brazil’s Pension Overhaul Increase Economic Concerns

[I]  Brazil Central Bank Says Economy Still Exposed to Uncertainty

 

BUSINESS LINE

[I]  ‘Dodgy GDP numbers’ rattle markets; stocks go into free fall

[I]  Deflating prospects: Automobile dealers to go for leaner inventory to ease pain

[I]  Maharashtra math: 1 kg sugar = 2,515 litres water

[I]  Singed by downgrades, NBFCs want rating agencies reined in

[I]  Home buyers have no say in choice of GST rate: FinMin

[I]  ‘Domestic securitisation volumes at all-time high of Rs. 2-lakh cr in FY19’

 

ECONOMIC TIMES

[I]  Now, owners may have to pay different GST for identical flats

[I]  Dealers bear brunt of deepening auto slump

[I]  Inflation to stay low for a long time; lower interest rates to spur savings

[I]  Net gold imports jump 27% in Jan-Mar quarter

[I]  Gold gains as Trump threatens to increase tariffs on Chinese goods

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

 

BUSINESS STANDARD

[I]  NSSO report on GDP data divides opinion, provides ammo to Opposition

[I]  Auto dealers see no quick recovery in slowdown, pin hope on stable govt

[I]  Last decade saw India's conglomerates score a few hits, but mostly misses

[I]  India tells US it's willing to reduce import duties on telecom equipment

[I]  States may cause fiscal slippage because of populist schemes, warns RBI

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11374;  USDINR DGCX:69.9750;  DJIA Mini: 25853;  FTSE 100 Fut: 7199;  NIKKEI 225 Fut: 21336;  EUR-USD: 1.1188; Crude Oil (WTI): 61.53;  Gold (Spot): 1281

 

Best Regards, ARBIND

09 May 2019