MACRO ECONOMIC NEWS

I HAVE NOT SEEN THE GOD; THE FATHER MANIFESTS LOVE AND TRUST IN ALL CIRCUMSTANCES. WISHING A REMARKABLE DAY AHEAD.

Macro Economic News 11 Jun 2019

 

China will tighten regulations on human genetic material, putting checks on the passing of it abroad and insisting that any foreign companies or institutes wanting to use it in their work do so with a Chinese partner. Repeated criticisms from the president are part of the context in which Jerome Powell must decide whether threats to the economy, including from trade fights, dictate an interest-rate cut soon. The number of job openings exceeded the number of unemployed Americans by the largest margin on record, signalling difficulty for employers to find workers in a historically tight market. Policies that once drove the region’s growth—relatively low taxes and low wages that attracted factories and blue-collar jobs—have proven inadequate in an economy where the forces of globalization favour cities with concentrations of capital and educated workers. Inflation expectations are continuing to fall, in what is likely to be a worrisome development for the FED.

 

FINANCIAL TIMES

[I]  Vietnam vows to crack down on trade tariff dodge

[I]  Moldova crisis worsens as two rival governments stand firm

[I]  Iran rules out US talks as diplomatic pressure rises

[I]  EU to warn business not to expect help over no-deal

[I]  Trump upends three decades of US/Mexico bridge-building

[I]  Watchdog urged to reform ‘best buy’ lists of funds

[I]  Fed continues to be failed by the Phillips curve

 

REUTERS

[I]  India's inflation likely hit seven-month high in May, still below RBI target: Reuters poll

[I]  Dollar steady, but trade war fears curb appetite for risk

[I]  Mexico eyes Brazil for U.S. asylum deal as Trump revives tariff threat

[I]  USDA says may allow farmers to collect some trade aid on unplantable acres

[I]  China to tighten rules on foreigners using genetic material

[I]  Trump ready to slap more tariffs on China after G20 meeting

[I]  India, U.S. discuss boosting energy security

[I]  China central bank to issue bills in Hong Kong in late June

[I]  North Korea urges U.S. to change 'hostile policy' on eve of summit anniversary

[I]  UK construction firms report smaller orderbooks - Bibby Financial

[I]  Venezuela inflation falls below 1 million percent in May for first time since 2018 - congress

[I]  U.S. job openings slip; hiring hits all-time high

 

BLOOMBERG 

[I]  Oil Drops Below $54 as Global Recession, Supply Concerns Mount

[I]  How China Overpowered the U.S. to Win the Battle for Rare Earths

[I]  Elusive Inflation May Extend Sweden’s Negative Rate Era

[I]  Gasoline Prices Set to Plunge at the Pump

[I]  The Fear Gauge Is Sounding an Alarm Even as U.S. Stocks Surge

[I]  Fed Rate-Cut Bets Grazed Rather Than Maimed by U.S.-Mexico Deal

[I]  BOE May Not Wait for Brexit Clarity to Hike Rates, Saunders Says

[I]  Wall Street Firms Pushing Into China Will Face Bigger Rivals

 

WALL STREET JOURNAL

[I]  ‘Not My People’—Trump Hectoring of Fed Chairman Complicates Rate Calls

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

[I]  The South’s Economy Is Falling Behind: ‘All of a Sudden the Money Stops Flowing’

[I]  Tariff Dispute Complicates U.S. Ties With Mexico

[I]  With Labor Market Tight, Some States Loosen Rules for Licensed Jobs

[I]  U.S. Inflation Expectations Decline to Lowest Level Since Late 2017, N.Y. Fed Says

 

BUSINESS LINE

[I]  Auto sector on thin ice as slowdown persists

[I]  Maharashtra farmers defy ban to plant GM cotton

[I]  2-wheeler players seek ‘practical’ EV switchover targets

[I]  Netherlands woos Indian investors as the UK prepares to exit the EU

[I]  Renewable energy projects: RBI to be asked to remove priority lending limits

[I]  MF assets inch up to Rs. 26-lakh-crore mark

 

ECONOMIC TIMES

[I]  Govt may introduce tax on cash withdrawal

[I]  The first step to successful investing is you

[I]  Absence of succession pipeline creates bottleneck for companies

[I]  Slowdown in global trade adversely affects economic growth: Piyush Goyal

[I]  Global recession: Here are clues it could be closer than you think

[I]  Sashakt Committee recommends changes in Inter Creditor Agreement

 

BUSINESS STANDARD

[I]  Flipkart revises commissions and shipping fee to attract smaller sellers

[I]  Stronger rupee in Q1 may spell trouble for margins of IT companies

[I]  GST Council to consider e-invoicing for firms with over Rs 500-cr turnover

[I]  Funding woes to crowded market, why it's tough being a start-up in 2019

[I]  Sebi suggests Rs 1 crore for whistle-blowers who expose insider trading

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 11962;  USDINR DGCX: 69.6175;  DJIA Mini: 26140;  FTSE 100 Fut: 7385;  NIKKEI 225 Fut: 21180;  EUR-USD: 1.1311; Crude Oil (WTI): 53.46;  Gold (Spot): 1333

 

Best Regards, ARBIND
11 Jun 2019