MACRO ECONOMIC NEWS

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Macro Economic News 13 Jun 2019

 

India will launch its second lunar mission in mid-July, as it moves to consolidate its status as a leader in space technology by achieving a controlled landing on the moon. Trump declined to set a deadline for levying tariffs on another $325 billion of Chinese goods and called the relationship with Beijing good but "testy" after China walked back commitments for a trade deal. Alongside full employment and stable prices, the FED has another, lesser known mandate: to be the adult in the economy. US Government tax revenue continued to rise in May thanks to a sturdy labor market, but not enough to offset higher federal outlays. The U.S.-Mexico-Canada trade agreement has “a better than two-thirds chance” of passing through Congress this year.

 

FINANCIAL TIMES

[I]  Hong Kong extradition bill protests erupt into violence

[I]  Global foreign investment contracts for third year

[I]  Germany’s ‘carland’ braces for electric shock

[I]  Vietnam tells companies not to advertise on YouTube videos

[I]  US diplomat cites Iran threat over Saudi arms sales

[I]  Japan’s Abe makes diplomatic push in Iran

[I]  HK risks becoming pawn in trade war with extradition bill

 

REUTERS

[I]  India to launch second lunar mission; land rover on moon

[I]  Dollar pulls away from 11-week lows as euro, commodity currencies sag

[I]  China economists expect interest rate, RRR moves in coming weeks: China Daily

[I]  Don't target U.S. financial firms if trade war widens, lobby group tells China

[I]  India evacuates hundreds of thousands as Cyclone Vayu builds fury

[I]  Trump leaves China tariff deadline open, calls relationship 'testy'

[I]  India May inflation hits seven-month high; still room for rate cut

[I]  U.S. House panel backs contempt citations for two Trump Cabinet members over census

[I]  Cheaper sensors could speed more self-driving cars to market by 2022

[I]  Trade war risks forcing Fed rate cut this year, say economists - Reuters poll

[I]  India's April industrial output grows 3.4%

[I]  Instant View: India's May retail inflation picks up to 3.05%

 

BLOOMBERG 

[I]  It's Starting to Get Pricey In Australia's Stock Market

[I]  The People’s Bank of China Finally Offers a Peek Behind the Curtain

[I]  Trump Deadline Drama, Peak Into PBOC, Socialism in U.S.: Eco Day

[I]  Thousands of U.K. Help to Buy Loans Go to Highest Earners

[I]  U.K. Housing Market Slump Gets Temporary Respite on Brexit Delay

[I]  Auto Demand Facing a ‘Sustained Downturn' in World’s Two Biggest Markets

[I]  The U.S. Budget Deficit Hit $207.8 Billion in May

[I]  U.S. Budget Gap Balloons to $739 Billion Despite Tariff Revenue

[I]  Hyperinflation Forces Venezuela to Roll Out Three New Large Bills

 

WALL STREET JOURNAL

[I]  The Fed Needs to Be the Adult in the Economy

[I]  U.S. Consumer Prices Edged Higher in May

[I]  Fix Mortgage Finance, or We’ll Do It For You, Regulator Tells Congress

[I]  U.S. Budget Deficit Grew 39% in First Eight Months of Fiscal Year

[I]  Mulvaney Sees Approval of USMCA Trade Deal Likely

[I]  U.S. Producer Prices Up Slightly in May, Showing Little Inflation Pressure

[I]  Real Time Economics: U.S.-China Tensions Spread Across the Economy

[I]  U.S. Job Openings Outnumber Unemployed by Widest Gap Ever

 

BUSINESS LINE

[I]  Gujarat on high alert as ‘very severe’ cyclone Vayu heads for landfall

[I]  Aadhaar, Medical Council Bills get Cabinet approval

[I]  Retail inflation at seven-month high in May; industrial growth at 3.4% in April

[I]  Indo-German project launched to develop high-strength spring steel

[I]  FDI flow into India rose 6% to $42 billion in 2018: UNCTAD

[I]  RBI unlikely to revisit retirement age for MDs and CEOs of private lenders

 

ECONOMIC TIMES

[I]  India Inc needs a mega bailout. Here's how it can be done

[I]  Banks lost Rs 2.05 lakh cr to frauds in 11 yrs

[I]  Inside Modi's plan to curtail corporate fraud

[I]  Dollar near 11-week low on Fed easing bets

[I]  PE/VC deals plunge 54% in May to $2.8 bn

[I]  Company directors will have to sit for exams in India after scandals

 

BUSINESS STANDARD

[I]  Consensus eludes RBI-appointed Jalan panel on economic capital framework

[I]  PE-backed housing platforms bet big on mid-income housing projects

[I]  Govt expecting allocation of Rs 10,000 cr for MGNREGS with drought looming

[I]  India, Russia, China uniting on rising protectionism, WTO reforms at SCO

[I]  Industrial production up 3.4% at six-month high, growth may remain muted

[I]  India's second moon mission Chandrayaan-2 to take off on July 15: Isro

 

MARKETS (07:00 am)

[I]  SGX NIFTY Fut: 11912;  USDINR DGCX: 69.5550;  DJIA Mini: 26061;  FTSE 100 Fut: 7367;  NIKKEI 225 Fut: 21060;  EUR-USD: 1.1291; Crude Oil (WTI): 51.35;  Gold (Spot): 1337

 

Best Regards, ARBIND

13 Jun 2019