MACRO ECONOMIC NEWS

GROWING IS BEING HUMBLE, RISING ABOVE BELIEFS, AND COMFORTING EVERYONE AROUND. WISHING A COURTEOUS DAY AHEAD.

Macro Economic News 06 Jun 2019

 

Companies are failing to disclose sufficient detail about how exposed they are to the potential risks of climate change. Oil prices hovering around their lowest levels since January as markets remain under pressure from rising U.S. supply and stalling demand amid an economic slowdown. New figures showed U.S. apprehensions at the southern border rose sharply, as Mexican and U.S. officials ended their first day of talks Wednesday without a deal to head off tariffs President Trump has threatened on Mexico. Market turmoil over U.S. tariffs on China and the threat of the same on Mexico in large part stems from a fear of the unknown: No one knows what a trade war would look like, but the 1973 Arab oil embargo holds some clues. Service-sector activity across the U.S. grew at a faster rate in May, while in India it hit a year low.

 

FINANCIAL TIMES

[I]  Lagarde warns of trade war’s ‘self-inflicted wounds’

[I]  Brussels warns Italy it is in breach of EU budget rules

[I]  Investors face $647bn China banking blind spot

[I]  US warns China halt to rare earths could cause ‘significant shocks’

[I]  Russia strengthens China ties in defiance of Trump 

[I]  Eurozone retail sales slip in sign of subdued domestic demand

[I]  Italy revives ‘alternative currency’ proposal

[I]  Australian growth fears rise as shoppers curb spending

[I]  Korea’s yield-seeking pensioners are shaking markets

[I]  Global regulators’ net tightens around big tech

 

REUTERS

[I]  Monsoon rains to arrive on India's southern coast around June 8: IMD

[I]  Trump says 'not enough' progress made in high-stakes U.S.-Mexico talks

[I]  Oil prices hover near January lows amid surging supply, economic slowdown

[I]  China central bank injects 500 billion yuan via one-year MLF, rates unchanged: statement

[I]  IMF's Lagarde warns U.S.-China tariffs to slash global growth in 2020

[I]  Companies lag in climate-related disclosures: G20 Task Force

[I]  Strong dollar lives on, but trade war, rate cuts to tamp it down - Reuters poll

[I]  U.S. refiners warn Trump: Mexico tariffs could result in higher fuel prices

[I]  ECB to give euro zone economy a small shot in the arm

[I]  Fed's testing of new ideas for policy framework already underway

[I]  Recession in Mexico likely if Trump tariffs bite, analysts say

[I]  In rare move, Pakistan military agrees to budget cut amid economic woes, PM says

 

BLOOMBERG 

[I]  Stocks Mixed as Mexico Tensions Sap Risk Appetite: Markets Wrap

[I]  Oil Sinks Into Bear Market as U.S. Storage Jumps Most Since 1990

[I]  The Trade War Could Pop Hong Kong's Property Bubble

[I]  Steepening Yield Curve Shows Market Isn't Waiting for Fed to Act

[I]  China Calms Markets With Second-Largest Cash Injection on Record

[I]  Philippines Central Bank Governor Survives Rocky Start as Peso Rebounds

[I]  Saudis, Russia Meet With Future of OPEC+ Cuts Still Unresolved

[I]  Millions of Britons Heading for a Poor Old Age, Think Tank Says

[I]  ECB Watched as Central Banks Shift Gears: Decision Day Guide

 

WALL STREET JOURNAL

[I]  Fed’s Beige Book Sees Modest Growth

[I]  Border Arrests Climb Amid Threat of Tariffs

[I]  As Tariffs Bite, Get Ready for a 1970s-Style Supply Shock

[I]  Nonfarm Private Sector Added Just 27,000 Jobs in May, Missing Forecasts

[I]  U.S. Service-Sector Economy Powers on Despite Global Headwinds

[I]  The Two Forces Pushing and Pulling at Trump’s Economy

[I]  Global Economy Cools Faster Than Expected as Trade Tensions Rise, World Bank Says

[I]  After Record-Long Expansion, Here’s What Could Knock the Economy Off Course

 

BUSINESS LINE

[I]  Govt set to upgrade CPI, IIP series in 2020

[I]  To curb rollover of CPs, RBI mulls a day’s cooling period

[I]  Corporates now willing to spend more on safety, health of workers: Study

[I]  Services PMI hits 12-month low

[I]  Low-income States fare well on holistic fiscal performance: CII

[I]  Partly an act of God, mostly a man-made disaster

 

ECONOMIC TIMES

[I]  Japan's new rules pose no threat to Indian IT

[I]  India Inc leaders now walk the green talk

[I]  FDI in services sector up 37 pc to $9.15 bn in 2018-19

[I]  World Bank retains India's growth rate for FY19-20 at 7.5 per cent

[I]  Customs departments work closer to vet MNC transfer pricing

[I]  Copyright amendment rules will widen framework, bring transparency: Govt

[I]  RBI may shun sectoral exceptions, ease timelines for stressed assets

[I]  Food subsidy to be hiked by 20% to Rs 2.21 lakh crore

[I]  CII launches new Index to measure fiscal performance

[I]  Finance Ministry may retain allocations made in Interim Budget

 

BUSINESS STANDARD

[I]  Tax officials may ask for 6% reduction in collection target in Budget 2019

[I]  PM Modi to head two new Cabinet committees on economy, employment

[I]  Weak demand may force steel mills to offer discounts in the short-term

[I]  Foreign defence firms be allowed a majority stake in Indian JVs: Assocham

[I]  Global natural gas prices drop, but policy blocking India from making gain

[I]  FDI in services sector rises 37% to $9.15 billion in 2018-19, says govt

 

MARKETS (09:30 am)

[I]  SGX NIFTY Fut: 12024;  USDINR DGCX: 69.5950;  DJIA Mini: 25560;  FTSE 100 Fut: 7222;  NIKKEI 225 Fut: 20810;  EUR-USD: 1.1231; Crude Oil (WTI): 51.82;  Gold (Spot): 1336

 

Best Regards, ARBIND

06 Jun 2019