MACRO ECONOMIC NEWS

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Macro Economic News 15 May 2019

 

India delayed on Tuesday the implementation of higher tariffs on some goods imported from the United States to June 16. Beijing is balancing stoking patriotism at home while restraining its trade rhetoric for an international audience. President Trump signalled he was in no rush to reach a deal with China and pledged that the federal government would come to the financial aid of American farmers hurt by Beijing’s retaliatory tariffs. British Prime Minister Theresa May will launch another push next month to approve Britain's exit from the European Union before the summer break, setting a new deadline for her Brexit plan and a potential timetable for her own departure. Escalating volleys of tariffs by the U.S. and China stand to pile pressure on already stressed supply chains, potentially pinching technology companies and consumers on both sides. Prices of foreign-made goods imported to the U.S. rose in April at their slowest pace in three months. Credit-card delinquency rates are rising, particularly among young people who are now more likely to have a credit card than a decade ago.

 

FINANCIAL TIMES

[I]  Saudi Arabia oil installations hit in drone attacks

[I]  How foreign groups fare in China’s slowing economy

[I]  Iran seeks action from Europe to save nuclear deal

[I]  Falling green investment stalls Paris climate goals

[I]  IMF’s reputation on the line in Argentina

[I]  US warns against European joint military project

[I]  Inequality in America has lessons for Britain

 

REUTERS

[I]  Japan takes India to WTO over mobile phone import duties

[I]  Exclusive: India fears U.S.-China trade war will lead to dumping of Chinese steel - sources

[I]  Fed's Daly says goal is inclusive growth that grows jobs in the long run

[I]  Iran's leader says there will be no war with U.S.

[I]  India delays levying retaliatory tariff on U.S. goods to June 16

[I]  Britain's May to launch new push on her Brexit deal next month

[I]  India to decide on resuming Iranian oil buy after elections: government source

[I]  Fed's Daly says goal is inclusive growth that grows jobs in the long run

[I]  Fed's George says she sees no case for interest rate cut

[I]  Trump calls trade war with China 'little squabble,' says talks ongoing

 

BLOOMBERG 

[I]  Gundlach Says Weakness Appearing in U.S. Economic Indicators

[I]  Indonesia Worried About Being Added to Trump’s Trade Hit List

[I]  A Flood of Toxic Loans in China Is a Bonanza for Debt Buyers

[I]  May to Bring Brexit Deal Back to Parliament at Start of June

[I]  Russia Wants a Piece of Any OPEC+ Output Hike

[I]  Trade War May Yet Spur China to Sell Treasuries as Yuan Sinks

 

WALL STREET JOURNAL

[I]  Trump Sees China Trade Deal ‘When the Time Is Right’

[I]  China Invokes Patriotism as Fight Escalates

[I]  Finished Tech Products Could Take Some Blows in Tariffs Fight

[I]  Alice Rivlin, Authority on Federal Budget, Former Fed Official, Dies

[I]  U.S. Import Prices Climb More Slowly Than Expected

[I]  U.S. Credit-Card Delinquency Rates Rising, Particularly Among the Young

[I]  Democrat Presses Treasury Secretary on Trump Tax Returns

[I]  Fed’s George Sees Trade, Foreign Slowdown as ‘Biggest Risk’ to Economy

 

BUSINESS LINE

[I]  Developing nations call for strengthening ‘special and differential’ provisions at WTO

[I]  Next government to decide on import of oil from Iran

[I]  How a start-up helps cable TV industry conform to TRAI norms

[I]  WPI inflation slides to 3.07% in April on cheaper fuel, manufactured items

[I]  Slide in American cotton prices leaves Indian importers in jitters

[I]  As IBC pressure mounts, borrowers hasten to pay up

 

ECONOMIC TIMES

[I]  Is Re heading towards a record low vs dollar?

[I]  NPA recoveries via IBC in 2018-19 at Rs 70,000 crore: Crisil

[I]  India postpones retaliatory tariff deadline on US products to Jun 16

[I]  India fears US-China trade war will lead to dumping of Chinese steel: Sources

[I]  WTO ministerial meet aims at re-energising multilateral trading system: India

[I]  WPI inflation slips to 3.07% in April from 3.18% in March

[I]  Retail inflation may rise to 4% in FY20: Report

 

BUSINESS STANDARD

[I]  Flood of money pouring into short-term debt schemes poses new risks

[I]  Monsoon to arrive late on June 4, 15% chance of drought, says Skymet

[I]  Worrying signal for telecom companies as rentals for towers come down

[I]  IBC process helps recover Rs 70,000-crore bad loans in FY19: CRISIL

[I]  I-T dept again defers GST, GAAR reporting in tax audit till March 2020

[I]  WTO meeting ends with demand for breaking dispute settlement system logjam

[I]  Power tariff woes, debt rising despite UDAY: It's not just regulatory fault

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11258;  USDINR DGCX:70.4925;  DJIA Mini: 25570;  FTSE 100 Fut: 7211;  NIKKEI 225 Fut: 21079;  EUR-USD: 1.1205; Crude Oil (WTI): 61.42;  Gold (Spot): 1296

 

Best Regards, ARBIND
15 May 2019