MACRO ECONOMIC NEWS

LIFE IS A PLACE WHERE PEACE IS A PRIORITY. WISHING A HARMONIOUS DAY AHEAD.

Macro Economic News 31 May 2019

 

U.S. economic growth remained robust in the first quarter, although fresh government data showed less business investment, a decline in corporate profits and muted consumer spending. Trump administration officials are finalizing a plan to put mortgage-finance giants Fannie Mae and Freddie Mac on a sounder financial footing, then return them to private-shareholder ownership. U.S. would impose a 5% tariff on Mexican imports beginning June 10, in an effort to push the country to halt the continued flow of asylum-seeking Central American families to the southern border. Saudi Arabia's king told an emergency Arab summit that decisive action was needed to stop Iranian "escalations" in the region following attacks on Gulf oil assets.

 

FINANCIAL TIMES

[I]  Brazil’s shrinking GDP fuels recession fears

[I]  India’s Modi sworn in for second term as PM

[I]  Fed vice-chair open to rate cuts if outlook dims

[I]  China central bank chief moves to reassure on small banks

[I]  Talks to resolve Venezuela crisis end without agreement

[I]  US launches large-scale project to store renewable energy

[I]  Britain is now stranded in Brexit limbo

[I]  The case for making wellbeing the goal of public policy

 

REUTERS

[I]  U.S. suspension of trade program with India 'a done deal' - U.S. official

[I]  Global Markets: Shares shaken, bonds surge as Trump stirs recession risk

[I]  China May factory activity shrinks more than expected as exports falter

[I]  Japan's factory output rebounds, but retail sales slow as trade war risks grow

[I]  South Korea's central bank keeps rates on hold as trade pressure builds

[I]  UK PM May's Conservative Party faces historically worst election result in Brexit crisis - poll

[I]  Saudi Arabia says firm stand needed to deter Iran, Iraq demurs

[I]  UK consumer sentiment jumps to eight-month high in May - GfK

 

BLOOMBERG 

[I]  Bank of Korea Leaves Key Rate Unchanged as Risks to Economy Grow

[I]  Wet Weather, Dry Weather, Worms: U.S. Cotton Can't Catch a Break

[I]  U.S. Could Be China's Chicken ‘Supplier of Choice’ If the Trade Spat Ends

[I]  June Could Be the Cruelest Month for China’s Yuan

[I]  Sri Lanka Cuts Key Rate to Spur Growth After Terror Attacks

[I]  Markets Reel as New Front in Trade War Makes a Bad Month Worse

[I]  Bond Funds in India Embrace Duration as Rate Cut Bets Intensify

[I]  Bitcoin's Rally Masks Uncomfortable Fact: Almost Nobody Uses It

[I]  China Revamps Its Tools for Controlling Capital Outflows

 

WALL STREET JOURNAL

[I]  U.S. Economy Remained Robust in First Quarter

[I]  Fed’s Patience Tested as Trade Spat Clouds Growth Outlook

[I]  Fed Would Consider Interest-Rate Cuts if Growth Outlook Darkens

[I]  Administration Nears Plan to Return Fannie, Freddie to Private Ownership

[I]  Trump Threatens Tariffs on Mexican Imports in Response to Migrant Surge

[I]  U.S. Jobless Claims Increase but Remain Near Historic Lows

 

BUSINESS LINE

[I]  Cement industry hopes to cut carbon footprint by 45% by 2050

[I]  Power producers cry foul over high insurance costs

[I]  The two who stole the show at the swearing-in ceremony

[I]  Challenges in giving shape to the economy

[I]  IMF bailouts: Are they really effective?

[I]  In pincer-like movement, monsoon enters Comorin, more parts of Bay of Bengal

[I]  Consolidation is the name of the game in auto industry

 

ECONOMIC TIMES

[I]  India could be losing fastest growing economy tag to China

[I]  Modi has a Rs 30-tn gift for India's ailing infra

[I]  Amitabh Kant task force proposes policy framework for public-private partnerships and public sector projects

[I]  EU, US oppose India on ending sops that aid illegal fishing

[I]  Railways, roads and highways sector to get the largest chunk of investment in Modi 2.0: ICRA

[I]  Ficci survey puts Q4 GDP growth at 6.5 per cent

[I]  Non-tax revenue target can be raised moderately on spectrum auction

 

BUSINESS STANDARD

[I]  Employee base is biggest cause of moderation in biz sentiment: Report

[I]  Companies pitch for GST rate cut as Modi govt takes charge second time

[I]  Exim Bank to raise up to $3 billion through capital markets in FY20

[I]  Bond dealers, economists expect RBI to lower policy rate at June 6 meeting

[I]  A near-term policy agenda for the new govt

[I]  China's protectionist move to curb aluminium scrap imports worries India

[I]  Ride the economic growth theme with banking and financial sector funds

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 11981;  USDINR DGCX: 69.9350;  DJIA Mini: 25019;  FTSE 100 Fut: 7183;  NIKKEI 225 Fut: 20740;  EUR-USD: 1.1134; Crude Oil (WTI): 56.07;  Gold (Spot): 1295

 

Best Regards, ARBIND

31 May 2019