MACRO ECONOMIC NEWS

LIFE COLOURS OUR WORLD THROUGH PEOPLE; THEY TRULY CARE FOR US. WISHING A VIBRANT DAY AHEAD.

Macro Economic News 22 May 2019

 

ISRO successfully launches RISAT-2B. 46% of super-rich Indians increase investment in PE space. RBI is to create specialised supervisory, regulatory cadre. Theresa May offers vote on second Brexit referendum. Japan may ease more without delay if economy worsens. Hopes for a speedy resumption of oil exports from Russia to Poland and Germany are fading. The U.S. housing market continued to soften in April, with the spring selling season so far proving a disappointment despite falling mortgage rates and a strong economy. President Trump travels to Japan this week to keep up the pressure for a trade deal that has raised hackles among Japanese companies, while showing he is still aligned with Tokyo on North Korea policy.

 

FINANCIAL TIMES

[I]  Theresa May offers vote on second Brexit referendum

[I]  US Congress eyes sanctions on Russian gas pipeline

[I]  Crash highlights Russia’s struggling domestic industry

[I]  OECD calls on governments to loosen purse strings

[I]  S Korea exports drop as trade gloom adds to chip downturn

[I]  Draghi’s legacy is consensus on ECB’s ways

[I]  Falling sales at big US department stores spark sell-off

[I]  Corporate India has no time to waste on debts

 

REUTERS

[I]  BOJ's Harada says must ease more without delay if economy worsens

[I]  Brazil lower house votes to allow foreign airlines in domestic market

[I]  U.S. business group says retaliation rising in China amid trade war

[I]  Trump tells Congress to ratify trade deal before dealing with infrastructure

[I]  Russian oil flows to Europe drop amid contamination

[I]  RBI to create specialised supervisory, regulatory cadre

[I]  Japan exports fall again but business sentiment offers hope

[I]  Fed officials see past misses as trouble for any new inflation approach

[I]  UK housing market weathers Brexit clouds, but sharp gains unlikely: Reuters poll

 

BLOOMBERG 

[I]  Long-Short Strategies Are Finally Coming to Chinese Stocks

[I]  Existing Home Sales Appear to Be Muted More by Price Than Supply

[I]  Hybrid CDOs Are ‘Cheapest Thing in the Entire Globe,’ CSAM Says

[I]  Trump Readies New Round of Aid to Farmers Hit by China Trade War

[I]  Fed's Other ‘QE’, Yuan's Risky Behavior, Japan Exports: Eco Day

[I]  Japan’s Exports Fall for Fifth Month Amid Trade Tensions

[I]  Currency Strategists Brace for Trade War Worse-Case Scenarios

[I]  Russia’s Economy Gives Putin Reasons Not to Extend OPEC+ Deal

[I]  Short Aussie, Long Yen Is the Hot New Currency Bet for Trade War

[I]  China Dollar-Loan Market Plunges 62% This Year Amid Trade War

 

WALL STREET JOURNAL

[I]  Potential Fed Nominee Would Seek Shake-Up of Interest-Rate Policy

[I]  U.S. Existing-Home Sales Fell in April

[I]  Trade Disputes Are Weakening Future Growth, OECD Says

[I]  U.S.-China Trade Talks Will End in a Deal, Former Negotiator Says

[I]  Trump to Press for Trade Deal in Trip to Japan

[I]  Fed’s Rosengren Sees No Reason to Change Rate Policy Right Now

[I]  May Lays Out New Brexit Plan Seeking More Opposition Support

 

BUSINESS LINE

[I]  EPFO looks to pull back NBFC investments to avert default risk

[I]  Govt turns the heat on directors in fight against shell companies

[I]  High-level committee proposes higher gas price for existing/new discoveries

[I]  Homeowners, small businesses can look forward to affordable insurance soon

[I]  SC vacates stay on retrospective applicability of black money law

[I]  Small trucks see growth, bucking industry slowdown

[I]  46% of super-rich Indians to increase investment in PE space

[I]  Debt-wary FPIs continue to press the sell button

 

ECONOMIC TIMES

[I]  Slowdown pangs to be felt by commercial vehicle segment too

[I]  ISRO successfully launches RISAT-2B

[I]  The only people shopping in a slowing India

[I]  I-T department proposes to seek more details on foreign donations from trusts

[I]  India projected to grow at 7.1% in FY'20: UN report

[I]  RBI to set up special panel for regulation of banks, NBFCs

[I]  Singapore, Canada seek to join WTO consultations over India's ICT products tariff

[I]  59% Indian millennials optimistic about economic outlook: Deloitte study13 Hours ago

 

BUSINESS STANDARD

[I]  Mobile user base dips 22 mn in March, suffers biggest fall since April 2018

[I]  RBI rules out credit line for NBFCs, discusses revised bad loan circular

[I]  India's economic growth set to gain pace despite US-China trade conflict

[I]  India, Myanmar hold joint naval drill as New Delhi cements leadership role

[I]  I-T dept set to bring changes in tax audit report for charitable trusts

[I]  India's import cover falls marginally to 9.1 months at end of Dec 2018: RBI

[I]  How much can oil prices impact India's import bill in post-sanctions era?

[I]  High level committee recommends strategy to reduce crude oil imports

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11737;  USDINR DGCX:69.7300;  DJIA Mini: 25881;  FTSE 100 Fut: 7334;  NIKKEI 225 Fut: 21344;  EUR-USD: 1.1161; Crude Oil (WTI): 63.00;  Gold (Spot): 1274

 

Best Regards, ARBIND
22 May 2019