MACRO ECONOMIC NEWS

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Macro Economic News 10 May 2019

 

Economists and investors are increasingly showing that they have little or no confidence in India's official economic data – presenting whoever is elected as the next prime minister with an immediate problem. The world’s two largest economies appear to be headed in different directions. Cross-border investment has come under pressure as national-security concerns rise and multinationals hedge their bets. U.S. wage growth is set to pick up over the next year, as economists expect a tight labor market will continue to push up workers’ pay. The producer-price index, a measure of the prices businesses receive for their goods and services, rose less than expected in April, signalling inflation in one pocket of the economy remains tame.

 

FINANCIAL TIMES

[I]  European powers reject Iran’s nuclear ‘ultimatums’

[I]  US-China trade war leaves global economy counting cost

[I]  EU leaders split over choosing successor to Juncker

[I]  Euro is new bogeyman for Poland’s ruling party

[I]  US business frustrated as Trump reignites China trade fight 

[I]  Singapore passes bill to tackle spread of false information

[I]  Democrats’ stinginess will catch up with them

[I]  Britain’s regional divide is smaller than it appears

 

REUTERS

[I]  India, China agree to resolve market access issue 'expeditiously'

[I]  Japan's wage tumble overshadows spending growth, keeps BOJ under pressure

[I]  U.S. housing agency wants new rules to attract mortgages from banks

[I]  Recession risks prod BOJ to strengthen forward guidance in April

[I]  Oil rallies on hopes for U.S.-China trade deal

[I]  Incredulous data: Economists create own benchmarks for India

[I]  Europeans reject 'ultimatums' from Iran as it eases nuclear curbs

[I]  Japan household spending rise but wages tumble in March

[I]  Japan March real wages fall most since 2015, bad omen for domestic demand

 

BLOOMBERG 

[I]  U.S. Yield Curve Inverts for the First Time Since March

[I]  China Is Armed With Powerful Market Weapons in Duel With Trump

[I]  The Whole 2019 Rally Is at Risk in Wall Street’s Worst-Case Trade War Mock-Ups

[I]  China's Yuan, Stocks Rise After Brutal Week as Tariff Hour Looms

[I]  RBNZ Needs 3% Economic Growth to Meet Targets, Bascand Says

 

WALL STREET JOURNAL

[I]  Chinese-U.S. Economic Integration Frays as Trade Talks Stumble

[I]  Nearly 70% of Economists Expect Faster Wage Growth Over Next Year

[I]  Fed’s Next Move Will Be Rate Cut, More Economists Say

[I]  China Trade Talks Complicate Outlook for Trade Deficit

[I]  U.S. Jobless Claims Fell Last Week

[I]  U.S. Producer Prices Rose Less Than Expected in April

[I]  High Hopes for Argentina’s Revival Are Dashed

[I]  Real Time Economics: U.S. Readies Tariffs, China Prepares Retaliation

 

BUSINESS LINE

[I]  Major relief for FPIs from Mauritius, Singapore claiming DTAA treaty benefit

[I]  Tweak in insolvency resolution process to open window wider for original promoters

[I]  Inflows into equity MF schemes down 60% on market turbulence, downgrades

[I]  Real estate: Date extended for migration to new GST regime

[I]  In bid to end data debate, finance panel to reconcile numbers with RBI, CAG

[I]  PE/VC investments rose 79% in April

[I]  Congress hurled 56 abuses at PM Modi: Nitin Gadkari

[I]  Banks must turn towards global trade-finance instruments: RBI

 

ECONOMIC TIMES

[I]  Economic census 2019 to include geotagged data of business enterprises

[I]  Corporate affairs ministry database fairly reliable, not a black box: Official

[I]  Economists highlight need for reducing Centre, state debt; call for new means to garner revenue

[I]  Mudra loans may cross Rs 3 lakh crore in 2019-20

[I]  Delhi's air quality severe, CPCB convenes meeting

[I]  Natural rubber production falls to second lowest levels in recent years

[I]  Net gold imports jump 27% in Jan-Mar quarter

 

BUSINESS STANDARD

[I]  Slowdown in equity flows amid election result uncertainty hits MF industry

[I]  GST chink likely to increase input tax credit of real estate companies

[I]  Free unused mineral land reserved for PSUs, says mining sector

[I]  Finance Commission to 'reconcile data', come up with own conclusion

[I]  After erratic monsoon, crop damage, vegetable prices zoom on supply squeeze

[I]  Sebi questions rating agencies on valuing debt backed by promoter shares

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11345;  USDINR DGCX:70.2600;  DJIA Mini: 25894;  FTSE 100 Fut: 7234;  NIKKEI 225 Fut: 21565;  EUR-USD: 1.1232; Crude Oil (WTI): 61.53;  Gold (Spot): 1284

 

Best Regards, ARBIND
10 May 2019