MACRO ECONOMIC NEWS

TIME IS ILLUSION, KNOWLEDGE IS ILLUSION, AND BOUNDARY IS ILLUSION TOO. WISHING A LIMITLESS DAY AHEAD.

Macro Economic News 29 May 2019

 

January-March quarter India growth may have slumped to 6-6.3% against 6.6% expansion in the preceding one. The Bank of Canada is widely expected to leave its key interest rate on hold this week as U.S.-China trade tensions weigh on the economic outlook. American optimism about the economy continued to recover in May, following a dip earlier this year. Home-price growth sputtered in March, the latest sign that lower mortgage rates and a booming economy are doing little to boost prices during the critical spring selling season. The Trump administration’s offensives aimed at frustrating the 5G ambitions of China. Oil prices fell on concerns the Sino-U.S. trade war could trigger a global economic downturn, but relatively tight supply amid OPEC output cuts and political tensions in the Middle East offered some support.

 

FINANCIAL TIMES

[I]  Mexico reaps gains from US-China trade war

[I]  Europe’s lame duck leaders muddle decision-making

[I]  China suggests using rare earths in US trade war

[I]  Macron leads push against Merkel’s EU commission candidate

[I]  Eurozone sentiment picks up for first time in a year

[I]  Serbia puts army on alert as tensions with Kosovo flare

 

REUTERS

[I]  China central bank makes biggest daily net OMO injection in over four months

[I]  New Zealand business confidence improves in May

[I]  Papua New Guinea PM formally resigns amid political turmoil

[I]  Oil prices fall as economic concerns outweigh supply risks

[I]  EU tells Britain: There will be no renegotiation of Brexit deal

[I]  Ex-ECB head Trichet denounces rigid inflation targeting

[I]  UK services firms toil in May, investment weak - CBI survey

[I]  U.S. Treasury says nine trade partners deserve scrutiny over currency practices

 

BLOOMBERG 

[I]  China Accuses U.S. of Abusing WTO National Security Exceptions

[I]  Beyond Meat Bears Stick to Their Short Bets, for Now

[I]  Japan's First Junk Bond Would Break Barriers in Wary Market

[I]  Rattled China Investors Worry What's Next After Bank Seizure

[I]  Global Bonds Rally With Aussie Yields Dropping Below RBA Rate

[I]  London Home Sellers Offer Ever-Growing Discounts

[I]  Singapore Added to U.S. Monitoring List on Currencies

[I]  Chile’s Bond Market Trembles After Central Bank Hints at Rate Cut

[I]  Auto Industry's Weakness Is Dragging Down Global Economic Growth

 

WALL STREET JOURNAL

[I]  Consumer Confidence Rises

[I]  U.S. Home-Price Growth Slowed in March

[I]  Trade Fight, Curbs on Huawei Threaten 5G Growth in U.S.

[I]  Real Time Economics: U.S. Growth May Be Cooling

[I]  U.S.-China Trade Dispute Likely to Keep Bank of Canada On Hold

[I]  New York Fed’s Markets Group Head to Leave June 1

[I]  Haggling Begins Over Who Will Succeed ECB’s Mario Draghi

 

BUSINESS LINE

[I]  Distribution of health workers in rural areas anaemic: Study

[I]  Auto-parts makers look to safety norms for a lift

[I]  Save your home and car this monsoon season

[I]  Income Tax Dept trains officers to detect tax evasion in shell companies

[I]  Saudi Arabia lifts ban on import of fruits, vegetables from Kerala

 

ECONOMIC TIMES

[I]  India is probably headed for its worst slowdown in five years

[I]  India's retail war is leaving a bloody trail

[I]  Monsoon to advance in next 3 days after week’s lull

[I]  Economic growth may have slipped below 7% in FY19, lowest in 5 years: ET Poll

[I]  Digital health, financial services for villagers soon

[I]  Facilitation, logistics of trade may get separate department

[I]  GST Council sets up 2 sub-groups to examine legal, technical aspects of e-invoice for B2B sales

[I]  GDP growth in Q4 likely to moderate to 6.1-5.9%, may lead RBI to cut rates: SBI report

 

BUSINESS STANDARD

[I]  Deficient pre-monsoon rains put almost half of India on drought alert

[I]  RBI turns down small finance banks' request to dilute listing norms

[I]  Combined debt of state-run OMCs hits five-year high of Rs 1.62 trillion

[I]  Garment exports show early signs of revival after two years of decline

[I]  100-day agenda: Commerce ministry pushes for separate logistics department

[I]  FDI inflows contract in FY19, first in 6 yrs, on weak economic conditions

[I]  Short-duration crops take a hit as water crisis strikes Tamil Nadu

[I]  Govt mulls making soil health cards must for availing farm scheme benefits

[I]  India's power production to grow 5-6% in FY20 on new household demand

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 11919;  USDINR DGCX:69.6575;  DJIA Mini: 25285;  FTSE 100 Fut: 7218;  NIKKEI 225 Fut: 20990;  EUR-USD: 1.1165; Crude Oil (WTI): 58.54;  Gold (Spot): 1285

 

Best Regards, ARBIND

29 May 2019