MACRO ECONOMIC NEWS

I EXIST FROM YOU AND I EXIST WITH YOU; LITTLE ME IS WITH YOU AND LITTLE YOU ARE WITH ME. WISHING A LIVELY DAY AHEAD.

Macro Economic News 26 Jun 2019

 

India plans to add 500 gigawatts (GW) of renewable energy to its electricity grid by 2030 in a bid to clean up air in its cities and lessen the rapidly growing economy's dependence on coal. Bank NPAs in India is likely to drop to 8% by March 2020, says CRISIL report. U.S. optimism about the economy deteriorated in June to its lowest level in 21 months as consumers fretted over escalating trade tensions and a cooling jobs market. Americans purchased fewer new homes in May, a sign the housing sector remains on uneven footing. The growth of U.S. home prices continued to slow in April in another sign of a weaker-than-expected selling season. Annual U.S. budget deficits are on track to more than double as a share of the economy, though not as much as previously thought, in a trend the Congressional Budget Office said is a significant risk for the nation.

 

FINANCIAL TIMES

[I]  G20 plays down commitment to climate action

[I]  Spain’s population hits record as immigrants flock in

[I]  New data point to softening US housing market

[I]  Australians’ confidence in China and US falls to new lows

[I]  Critics round on Credit Suisse for suing UK over bonus tax

[I]  Three Chinese banks hit by US probe into North Korea links

 

REUTERS

[I]  U.S. aims to restart China trade talks, will not accept conditions on tariff use

[I]  Tech’s finance push is disrupting regulators too

[I]  African swine fever nudges China towards peak pork

[I]  India plans to add 500 GW renewable energy by 2030: government

[I]  Monsoon covers most parts of cane, cotton, soybean fields in India

[I]  Canada, U.S. gain as India cuts dependence on Australian coking coal

[I]  Fed pushes back on aggressive U.S. rate cut views

[I]  U.S. aims to restart China trade talks, will not accept conditions on tariff use

[I]  U.S. launches economic formula for Middle East peace, Palestinians unhappy

[I]  Pro-China groups step up offensive to win over Taiwan

[I]  Oil prices climb amid fall in U.S. stockpiles, Middle East worries

[I]  Exclusive: Investors with $34 trillion demand urgent climate change action

 

BLOOMBERG 

[I]  Trump Drags Dollar to Center Stage at G-20 as Trade War Heats Up

[I]  Oil Jumps as API Sees Surprise Plunge in U.S. Crude Stockpiles

[I]  Thailand Seen on Hold as Rate-Cut Bets Climb: Decision Guide

[I]  Powell Reiterates Stronger Case for Cut Amid Economic Risks

[I]  In Southeast Asia, Trade War Is Curbing Imports as Well

[I]  Funds Flock to India and Indonesia to Escape Slumping Yields

[I]  Weather Extremes Threaten U.S. Cotton Acres

[I]  Here's Why Betting on a BOJ Rate Cut May Be Doomed to Fail

[I]  China Trimming U.S. Debt Comes Home to Roost in Swap Spreads

[I]  U.S. Confidence, Home Sales Drops Underscore Risks to Growth

 

WALL STREET JOURNAL

[I]  Consumer Confidence Slid in June on Trade Tensions

[I]  Fed’s Barkin Takes Wait-and-See Approach to Rate Setting

[I]  Democrats and Affluent Suburbs Join to Fight Tax-Break Cap

[I]  U.S. New-Home Sales Fell in May

[I]  Home Prices Decelerated in April

[I]  Trump Administration Proposes New Type of Apprenticeship

[I]  U.S. Deficits Expected to Continue Growing

[I]  Companies Win—Somewhat—as Treasury Trims Reach of Minimum Tax

 

BUSINESS LINE

[I]  ‘India ready to engage with other nations on data, e-comm and FDI’

[I]  RBI panel suggests Rs. 5,000-cr stressed assets fund for MSMEs

[I]  Monsoon current strengthens ahead of a fresh ‘low’ in the Bay of Bengal

[I]  Focus on safety, sustainability and growth

[I]  PM pitches for corporate investment in agriculture

[I]  Energising the MSME ecosystem

[I]  Monsoon current strengthens ahead of a fresh ‘low’ in the Bay

 

ECONOMIC TIMES

[I]  RBI loosens purse strings to pay govt's bills

[I]  Boost for monsoon as El Nino wanes

[I]  Bank frauds of above Rs 1 lakh on decline

[I]  Firms with multiple offices get a GST shocker

[I]  The habit that could cost India a bomb

[I]  Bond rally in India at risk as RBI cash transfer delayed

[I]  India plans to offer incentives to companies moving from China

[I]  Centre to scrutinise companies that haven't filed online KYC details

[I]  Government likely to use Rs 3 lakh crore RBI windfall to pay regular bills

 

BUSINESS STANDARD

[I]  National e-commerce policy after a year, no change in FDI guidelines

[I]  India's rural mobile phone base slips further, shows Trai report

[I]  Employees of more companies seem to be looking to buy out promoter stakes

[I]  Currency circulation in May jumps 22% over the pre-demonetisation level

[I]  Kerala tops NITI Aayog's health index for second time, UP at bottom

[I]  Importers do not need state-wise registration under GST regime

[I]  Bank NPAs likely to drop to 8% by March 2020, says CRISIL report

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 11765;  USDINR DGCX: 69.2750;  DJIA Mini: 26570;  FTSE 100 Fut: 7338;  NIKKEI 225 Fut: 21050;  EUR-USD: 1.1356; Crude Oil (WTI): 58.86;  Gold (Spot): 1407

 

Best Regards, ARBIND

26 Jun 2019