MACRO ECONOMIC NEWS

SUCCESS IS NOTHING BUT WINNING SOULS AROUND US. WISHING AN IMPRESSIVE WEEK AHEAD.

Macro Economic News 06 May 2019

 

Hundreds of thousands of people were left homeless after a cyclone packing winds of about 200 km per hour slammed into eastern India. From Athens to Seoul, governments around the world are increasing the minimum wage, seeking to assuage voter concerns over years of weak pay growth and rising inequality. President Trump threatened to drastically ramp up U.S. tariffs on Chinese imports, a surprise twist that put an accord in doubt as Beijing considered pulling out of talks scheduled to begin this week. Federal Reserve Vice Chairman Richard Clarida said the U.S. economy is “in a very good place” and he doesn’t see any need to change the central bank’s current interest-rate setting in a speech.

 

FINANCIAL TIMES

[I]  Russia struggles to attract Chinese capital to its Far East

[I]  EU leaders urged to decide swiftly on senior jobs

[I]  Global economy shakes off its ‘delicate moment’

[I]  US economic strength poses challenge for Democrats

[I]  Business rates may have met their match in rise of CVA

[I]  Women, hopeful for change, are driving Sudan’s uprising

[I]  Eurozone to rebound on domestic and China stimulus 

[I]  Financial markets make fools of prognosticators

 

REUTERS

[I]  Cyclone Fani kills at least 33, several thousands homeless

[I]  Stocks, commodities tumble after Trump vows China tariff hike

[I]  China central bank to cut reserve requirements for small, medium banks

[I]  Fed up Canada tells U.S. to help with China crisis or forget about favors

[I]  U.S. lawmakers urge Trump administration to not end India's trade privileges

[I]  Sudan faces fuel crisis and worsening cash crunch

 

BLOOMBERG 

[I]  China Considers Delaying Next Trade Talks After Trump’s Tariff Threat

[I]  Market Fallout in Charts: Investors React to U.S. Tariff Threat

[I]  Trump Tweets Rock China Market Reopen With Stocks, Yuan Slumping

[I]  Biggest Yuan Drop Since 2016 Catches Options Traders Off Guard

[I]  Asia's Scorching Dollar Bond Rally Is Showing Signs of Strain

[I]  PBOC Moves to Cut Reserves for Small Lenders to Inject Liquidity

[I]  RBA Could Cut, Trump China Threat, `Tone Deaf' Powell: Eco Day

[I]  Private Equity's Returns Questioned Again, This Time by Buffett

[I]  Faltering Metals Get Check-Up as Industry Gathers in Hong Kong

[I]  Philippine Consumer Stocks May Disappoint Market With 1Q Results

 

WALL STREET JOURNAL

[I]  Trump Issues Tariff Threat and China Considers Pulling Out of Talks

[I]  Moore, Cain Withdrawals Re-Up Search for Supporters on Fed Board

[I]  World Governments Test Minimum-Wage Raises

[I]  In a Tight Labor Market, Gig Workers Get Harder to Please

[I]  Fed Vice Chair Says U.S. Economy ‘Is In a Very Good Place’

[I]  Economy Week Ahead: Trade Deficit, Inflation Data

 

BUSINESS LINE

[I]  Early Q4 results indicate weakening in demand

[I]  Insurers gearing up for ‘Cyclone Fani’ claims

[I]  CII backs FAME-II scheme despite EV makers’ red flags

[I]  Underinsurance is the bigger challenge, say insurers as they gear up to settle Fani claims

[I]  India’s music streaming market gets louder

 

ECONOMIC TIMES

[I]  The shocking reality of Indian companies

[I]  India's foreign oil love now at all time high

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

[I]  EU and Britain condemn US oil and nuclear sanctions on Iran

[I]  Income tax e-filers drop by over 6.6 lakh in FY19: Official data

[I]  View: India needs an investment czar to get rich

[I]  Govt set to provide financial assistance to minority investors for class action lawsuits

[I]  DPIIT proposes relaxation in income tax law to help start-ups raise funds

[I]  B2B invoices will have to be generated on govt portal by September to check GST evasion

 

BUSINESS STANDARD

[I]  RBI, banks begin holding company model talks; norms to be finalised by Sept

[I]  Automotive steel consumption skids 4% due to slowing vehicle sales

[I]  Carmakers expect monsoon, festive sales to revive business in H2FY20

[I]  India reaches out to Australia, set to start trade talks again

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11702;  USDINR DGCX:69.3875;  DJIA Mini: 26004;  FTSE 100 Fut: 7329;  NIKKEI 225 Fut: 22240;  EUR-USD: 1.1188; Crude Oil (WTI): 60.40;  Gold (Spot): 1282

 

Best Regards, ARBIND
06 May 2019