MACRO ECONOMIC NEWS

SIMPLE FAITH ATTRACTS GOOD PERSONS AND OPPORTUNITIES. WISHING A DAY FULL OF EMPATHY.

Macro Economic News 08 May 2019

 

The Federal Reserve identified rising sales of risky corporate debt as a top vulnerability facing the U.S. financial system, according to a new report. Any retaliatory tariff by India in response to the United States' planned withdrawal of trade privileges will not be "appropriate" under WTO rules. China is sending its top trade envoy to Washington to resume negotiations. China will keep calm against threats of higher tariffs from the United States and has "complete confidence" in its ability to face challenges in trade talks. The Reserve Bank of India will probably conduct at least one more swap of rupees for dollars after the general election, part of an effort to support economic growth.

 

FINANCIAL TIMES

[I]  Interest-only commercial loans hit pre-crisis level

[I]  North Korea missile tests threaten nuclear talks revival

[I]  Iran stirs fears over riposte to Trump on nuclear deal

[I]  Italy budget deficit forecast to smash EU fiscal rules

[I]  US provokes fury after blocking Arctic Council statement

[I]  EU workers miss out on gains of economic recovery

[I]  Public options key to reviving US middle class

[I]  US unemployment rate is significanlty higher than the ‘official’ figure

 

REUTERS

[I]  U.S. warns India against retaliatory duties over scrapping of trade privileges

[I]  Seeking to avert higher tariffs, China dispatches top negotiator to U.S.

[I]  BOJ board debated pros, cons of more easing at March meeting: minutes

[I]  Oil prices firm amid U.S. sanctions on crude exporters Iran, Venezuela

[I]  Japan April services PMI slips as new business growth slows

[I]  China will keep calm in face of trade talk challenges: People's Daily

[I]  Aviation is acid test for UK climate credibility

[I]  Exclusive: RBI plans more FX swaps, steps to inject cash - officials

[I]  U.S. House passes pro-Taiwan bills, amid trade tensions with China

[I]  Singapore's central bank to increase monetary policy transparency

[I]  Japan's labour shortage eats away at back-breaking work culture

 

BLOOMBERG 

[I]  China Hawks Gain Upper Hand as Trump Squeezes Beijing Over Trade

[I]  China’s Sinking Online Lenders Seek Lifeline From Big Investors

[I]  U.S. Cotton Production Expected to Reach Highest in 14 Years

[I]  New Zealand Cuts Interest Rates to Historic Low

[I]  Once Darling Consumer Stocks Turn Sour as Demand Cools in India

[I]  Krona's Plunge Shows How 2008 Crisis Is Only Just Hitting Sweden

[I]  Property Slowdown Beckons as Next Risk for Emerging Markets

[I]  China Is Dawdling on Carbon Trading

[I]  China Is Losing Its Grip on Companies Due to Trump's Trade War

 

WALL STREET JOURNAL

[I]  Job Openings Outnumber Americans Seeking Work for 13th Straight Month

[I]  China Agrees to Resume U.S. Trade Negotiations

[I]  Fed Readying Financial System for Climate-Change Shocks

[I]  Program to Relieve Student Debt Proves Unforgiving

[I]  Fed Vice Chairman Says U.S. Monetary Policy ‘Is in a Good Place’

[I]  Fed Flags Risky Business Debt as Vulnerability for Financial System

[I]  Real Time Economics: U.S. Accuses China of ‘Reneging’ In Trade Talks

[I]  Fed’s Harker Expects One More Rate Hike in 2019 and Another in 2020

 

BUSINESS LINE

[I]  India may be spared GSP withdrawal pain till elections are over, hints US

[I]  Cash-hungry corporates binge on ECBs, raise a record $41 billion

[I]  Another H-1B fee hike to hit Indian techies

[I]  Piramal, Canadian fund launch renewables InvIT

[I]  Renewable energy players red-flag a host of issues plaguing sector, seek govt intervention

[I]  Poor demand, fall in energy intensity choking coal

[I]  Lower domestic output will see cotton imports double to 31 lakh bales: CAI

 

ECONOMIC TIMES

[I]  Don’t pay heed to commodity prophesies, they’re always wrong: Aswath Damodaran

[I]  Corporate loan growth higher than retail

[I]  If this is a tech bubble, it’s the expansionary phase

[I]  Sebi panel may recommend FPI investment in unlisted cos

[I]  RBI weighs incentives for banks to move IBC

[I]  Sebi may be asked to relax 75% promoter stake norm for PSBs

[I]  Corp bond market turmoil unlikely to dent NPS returns

[I]  US talent crunch takes IT to Canada, Mexico

[I]  For India Inc, hunt for talent goes beyond cos’ core biz

 

BUSINESS STANDARD

[I]  Tariffs unjustifiably high, need level playing field: US Commerce Secretary

[I]  Realty hits green hurdle as rules bent for Ease of Doing Business in court

[I]  Kerosene subsidy bill builds up 21% to Rs 5,800 cr in FY19; LPG jumps 49.4%

[I]  Dollar-rupee swap, open market operations: RBI plans steps to inject cash

[I]  US to propose hike in H-1B application fee, Indian IT may bear the brunt

[I]  Overseas funds making investments into India directly from home countries

[I]  Pak moves a step closer to IMF bailout package after Imran overhauls team

[I]  80,000 cricket crazy Indians likely to head to England for World Cup

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11479;  USDINR DGCX:69.8425;  DJIA Mini: 26000;  FTSE 100 Fut: 7204;  NIKKEI 225 Fut: 21577;  EUR-USD: 1.1203; Crude Oil (WTI): 61.86;  Gold (Spot): 1287

 

Best Regards, ARBIND
08 May 2019