MACRO ECONOMIC NEWS

LIVING BY FAITH TRANSPIRES HUMAN BEING INTO BEING TRANSPARENTLY REAL. WISHING A HAPPENING DAY AHEAD.

Macro Economic News 24 May 2019

 

India elects for policy continuation for development under Modi. President Trump rolled out a $16 billion plan to help farmers hit by the trade conflict with China and suggested Huawei Technologies could potentially be a bargaining chip in settling the dispute. The latest increase in tariffs on Chinese imports is costing the average U.S. household $831 a year through higher prices and reduced economic efficiency, a paper published by the New York Fed said. Europe’s economic recovery appears to be stalling amid flagging international demand for its exports, according to a closely-watched business survey that puts fresh pressure on the European Central Bank to act to shore up growth. Many American households remain financially fragile and uncertain about their retirement prospects despite a booming job market that is lifting wages, according to a Federal Reserve survey released Thursday.

 

FINANCIAL TIMES

[I]  Modi’s emphatic win cements India’s nationalist shift

[I]  US companies reshape supply chains after China ultimatum

[I]  May to give firm departure date as Brexit deal founders

[I]  Eurozone manufacturing contracts as trade tensions weigh

[I]  Black borrowers more likely to fall behind on student debt

[I]  Top economist says Japan should learn to love budget deficits

[I]  More CEOs are paying for their ethical mis-steps

 

REUTERS

[I]  Dollar steady after coming off two-year high, pressured by lower U.S. yields

[I]  Asian shares at four-month low on deepening U.S.-China trade war

[I]  Japan's key inflation gauge hits 3-year high, offers little respite for BOJ

[I]  Japan keeps top creditor nation status as external assets grow

[I]  U.S. home sales, manufacturing stumble; job market resilient

 

BLOOMBERG 

[I]  Trump's $16 Billion Farmer Trade Aid Package Leaves Few Happy

[I]  BOJ's Plan to Fix Its ETF Problem Branded `Meaningless Gesture'

[I]  Bankers Stunned as Negative Rates Sweep Across Danish Mortgages

[I]  List of Stock Losers Sends a Troubling Signal to Economy Bulls

[I]  Bank Indonesia Governor Caps a Year of Trials With the Test of a Trade War

[I]  U.S.-Listed Chinese Stocks Tumble at Fastest Pace Since 2008

[I]  What Happened This Week in the World Economy and What It Means

[I]  A $1.4 Trillion India Spending Push Tops Modi 2.0 Agenda

 

WALL STREET JOURNAL

[I]  Trump Administration Rolls Out $16 Billion Farm-Aid Program

[I]  Latest China Tariffs Will Cost $831 per Household, Report Says

[I]  Eurozone Economy Slows as Demand for Exports Stalls

[I]  One-Quarter of Working Americans Have Zero Retirement Savings

[I]  Trump’s Point Man on China Trade Still Trying to Close the Deal

 

BUSINESS LINE

[I]  MODI 2.0: Bigger and broader

[I]  New govt to award lease rights for 6 non-metro airports to Adani

[I]  NBFC crisis hits clean-energy firms

[I]  China seeks to join WTO talks over ICT products tariff in India

 

ECONOMIC TIMES

[I]  Reforms, job creation need of the hour: Economists to Modi govt

[I]  View: Policy continuity needs to get priority over new reforms

[I]  Tax cuts, robust banking sector can revive private investment

[I]  India open to sharing economic prosperity with the world, says envoy

[I]  Credit view on India hinges on policies of new govt: Moody's

[I]  View: An active private sector and liberal trade policy will help the growth story7 Hours ago

 

BUSINESS STANDARD

[I]  Fiscal policy to manufacturing: What corporate leaders expect from Modi 2.0

[I]  Second Modi govt faces task of perking up economy despite fund crunch

[I]  Senior citizens with income up to Rs 5 lakh can seek TDS relief on interest

[I]  Basmati exporters hold shipments to Iran fearing payment defaults

[I]  Oil prices plunge over 5% to $67 as US-China trade tensions intensify

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11849;  USDINR DGCX:69.7200;  DJIA Mini: 25692;  FTSE 100 Fut: 7301;  NIKKEI 225 Fut: 21108;  EUR-USD: 1.1151; Crude Oil (WTI): 61.07;  Gold (Spot): 1273

 

Best Regards, ARBIND

24 May 2019