MACRO ECONOMIC NEWS

NOTHINGNESS IS THE STAGE FOR ENCORE OF EVERYTHING. WISHING A FULFILLING DAY AHEAD.

Macro Economic News 30 May 2019

 

A shift has taken place in the economy in recent years: Productivity and growth increasingly flow not from equipment, buildings or hardware, but from instructions, coding and data—in other words, software. A global treaty aimed at protecting workers from violence and harassment is expected to be agreed next month, though some "tricky" issues remain. North Korea accused the United States of showing bad faith in negotiations by conducting nuclear and missile tests and military drills as part of an "evil ambition" to conquer North Korea by force, even while advocating dialogue. Iran sanctions have spurred Europe and India to devise systems to trade with Tehran without using the U.S. currency. Germany’s jobless rate climbed unexpectedly in May, the first increase in more than five years, in a sign that a recent slowdown in growth is spreading further through Europe’s largest economy.

 

FINANCIAL TIMES

[I]  Venezuela data offer rare glimpse of economic chaos

[I]  Brazil’s Mourao seeks to repair ties with China

[I]  Modi under pressure to deliver as economy falters

[I]  US official says Russia may have violated nuclear treaty

[I]  China oil imports from Iran surge 21% in April

[I]  EU and Japan seek to harness Trump’s China trade ire

[I]  China pushes self-made chips in response to US threats

 

REUTERS

[I]  Australia's minimum wage rises slowly as growth, inflation cool

[I]  BOJ policymaker warns against 'reckless' easing to reach price goal

[I]  New Zealand unveils spending boost in 'wellbeing' budget; cuts 2019 growth forecast

[I]  Japan business lobby urges sales tax hike to proceed as planned

[I]  Global pact to fight workplace violence and harassment nears agreement

[I]  North Korea accuses U.S. of 'evil ambition,' says use of strength not a U.S. monopoly

[I]  Oil prices rise after bigger-than-expected fall in U.S. inventories

[I]  UK should be 'cautious' about further minimum wage rises - think tank

[I]  Brexit shutdowns hammer UK car production in April - industry group

[I]  Brexit debacle will continue to hinder FTSE 100 after strong 2019 - Reuters poll

[I]  Pakistan sets 4% GDP growth target for 2020 ahead of austerity budget

 

BLOOMBERG 

[I]  Bond Traders Lay Roadmap to 2% Yield on 10-Year Treasuries

[I]  Global Bond Rally Boosts Chatter the BOJ Will Cut June Purchases

[I]  Here Are the Hedge Funds That Got It Right (and Wrong) in 2018

[I]  Here's What Could Happen If the Yuan Slips to 7 a Dollar

[I]  A Cautionary Rare Earths Tale Can Be Found in Molycorp's Rise and Fall

[I]  Israel Faces Brain Drain as More Educated Citizens Leave Country

[I]  New Zealand Budget 2019: Winners and Losers

[I]  Singapore Says Property Price Curbs Achieved Stabilization Goals

 

WALL STREET JOURNAL

[I]  If the Economy Booms, Thank Software

[I]  The Dollar Underpins American Power. Rivals Are Building Workarounds.

[I]  German Unemployment Rises for the First Time in Five Years

[I]  Consumer Confidence Rises

[I]  Treasury Declines to Designate China a Currency Manipulator

 

BUSINESS LINE

[I]  Govt needs to share project risk with private sector: Rajiv Kumar

[I]  Industry body seeks policy support

[I]  Probe thoroughly before calling a firm ‘shell’, Tribunal tells SEBI

[I]  Foreign policy in an uncertain world

[I]  Spectrum availability could be a hurdle for 5G roll out in India

[I]  Monsoon set to enter Maldives, Comorin in 2 days

[I]  RBI tweaks KYC norms for regulated entities

 

ECONOMIC TIMES

[I]  Panel for eliminating investment rule for fuel marketing licence

[I]  FDI policy review begins as inflows drop despite auto route

[I]  7th Economic Census to cover villages without economic activity

[I]  India’s FDI inflows decline in FY19, Singapore replaces Mauritius as top source of investment

[I]  Fadnavis okays Rs 4.24 lakh crore annual credit plan

[I]  Finance ministry may look at 10-year tax holiday on rental profits earned by builders

[I]  US removes India from currency monitoring list

 

BUSINESS STANDARD

[I]  Borrowing costs come back to bite corporate earnings of India Inc

[I]  PE funds betting on malls for higher rental yield, rising consumption

[I]  RBI constitutes task force on secondary market for corporate loans

[I]  NHB directs bigger housing finance firms to appoint chief risk officer

[I]  RBI forms committee to review existing state of mortgage securitisation

 

MARKETS (09:30 am)

[I]  SGX NIFTY Fut: 11872;  USDINR DGCX: 70.0875;  DJIA Mini: 25129;  FTSE 100 Fut: 7183;  NIKKEI 225 Fut: 20860;  EUR-USD: 1.1138; Crude Oil (WTI): 59.15;  Gold (Spot): 1282

 

Best Regards, ARBIND

30 May 2019