MACRO ECONOMIC NEWS

SOMETIMES YOU NEED TO RUN BEFORE YOU WALK; ITS RAINING OPPORTUNITY. WISHING A DELICIOUS WEEKEND AHEAD.

Macro Economic News 29 Jun 2019

 

Failure of a large Indian non-banking financial company could cause as much damage as the collapse of a big commercial lender, the Reserve Bank of India said, stressing a need for greater surveillance of these firms. U.S. households spent at a solid pace in May, showing consumers remain a steady pillar in the economy despite perceived headwinds from abroad. U.S. household sentiment declined in June, a possible sign of softening public confidence about the economy headed into the summer. President Trump struck a conciliatory tone with other world leaders as the Group of 20 summit got started in Japan, soothing worries that he would provoke fresh tensions. Central bank’s quarterly survey showed Canadian business sentiment improved as more firms express optimism about their future sales prospects backed by domestic and foreign demand.

 

FINANCIAL TIMES

[I]  China’s Xi says rich countries ‘destroying’ trade system

[I]  Bank stocks get a fillip from Fed stress test results

[I]  EU closes in on plan for Brussels and ECB top jobs

[I]  Economists call for carbon tax to hit net zero goal

[I]  The rise and rise of a Vietnamese corporate empire

 

REUTERS

[I]  Crop planting slows in India on weak monsoon rains

[I]  India's current account gap narrows in fiscal fourth quarter on improved trade balance

[I]  U.S. banks play cat-and-mouse game with Fed on capital returns

[I]  G20 heads to stop short of denouncing protectionism in communique: Nikkei

[I]  World Bank chief urges reforms to attract investment amid trade uncertainty

[I]  Failure at a big Indian non-bank lender could cause large damage: RBI

[I]  Explainer: U.S.-China trade talks: where they are and what's at stake

[I]  Moderate U.S. consumer spending, inflation support rate cut

 

BLOOMBERG 

[I]  The U.S. Has So Many Fat Pigs That Pork Prices Are at Decade Low

[I]  Bond Traders Are Eager to Get Past G-20 and Focus on Data Again

[I]  Hedge Fund Closings Outnumber Launches Again

[I]  Iran's OPEC Veteran Weathers Storms From Trump to Saudi Arabia

[I]  Golden Six Months for South African Stocks Defy Economic Gloom

[I]  U.S. Oil Output Tops 12 Million Barrels a Day for First Time

[I]  Markets Pricing in an Asymmetric Bet on G-20 Outcome

[I]  Business Sentiment Picks Up, Defying Trade Tensions

 

WALL STREET JOURNAL

[I]  Does Free College Work? Kalamazoo Offers Some Answers

[I]  Americans Increased Their Spending in May

[I]  U.S. Inflation Continues Recovery but Remains Below Fed Target

[I]  EU, South American Countries Reach Agreement on Trade

[I]  Federal Reserve Clears Big Banks to Boost Payouts to Investors

[I]  Trump Changes His Tone on Trade at G-20

[I]  White House Predicts Deregulation Will Boost Household Incomes

[I]  Canadian Business Sentiment Improves

[I]  U.S. Consumer Dropped in June

 

BUSINESS LINE

[I]  Small savings schemes will fetch lower returns

[I]  Boost to local manufacturing, structural change to farm sector top Budget wishlist

[I]  Monsoon reaches Mumbai

[I]  Re-activate NBFCs to re-boot the economy

[I]  Bankers hope for clear roadmap on mergers, NBFC, infra issues

[I]  Agriculture sector may be due for a policy revamp, say experts

[I]  Fiscal deficit reaches 52% of the full-year mark in first 2 months

[I]  ‘Low’ may intensify into depression; more rains likely next week: IMD

[I]  Total sown acreage down by 10 per cent till date

 

ECONOMIC TIMES

[I]  Forex reserve hits record high of $426.42 billion

[I]  Euro set for biggest monthly drop in 17 months before price data

[I]  NBFC woes send bond premiums to highest since 2013

[I]  Large corporates are going back to banks for funds

[I]  Better prices for farmers: Online warehouse-based trading soon

[I]  India, Japan discuss strengthening collaboration in skill development

 

BUSINESS STANDARD

[I]  Impact of Sebi's norms for debt MFs: Companies may shift funds to banks

[I]  India's current account deficit narrows sharply to 0.7% of GDP in Q4

[I]  Trade dispute to defence: Modi, Trump have talks agenda set at G20 meeting

[I]  NBFCs may shed competitive edge as SEBI tightens rules to raise capital

[I]  India's external debt rises 2.6% to $543 billion at March-end

[I]  Sowing of kharif crops down from last year but revival likely soon

[I]  Retail loan growth slows to 17% in May, reflects slowdown in economy

 

Best Regards, ARBIND

29 Jun 2019