MACRO ECONOMIC NEWS

THE FUN OF LIFE LIES IN STUPIDITY; GENIUS HAS ITS LIMITS. WISHING A FROLIC DAY AHEAD.

Macro Economic News 20 Jun 2019

 

India's monsoon has progressed more slowly than usual after hitting the southern state of Kerala nearly a week late. Monsoon rains have been 44% lower-than-average so far in June raising concerns that parts of the country could face a worsening drought. The U.S. has told India it is considering caps on H-1B work visas for nations that force foreign companies to store data locally. Under pressure to lower interest rates, the Federal Reserve gave its strongest signal yet that it is preparing to possibly cut rates later this year, while keeping rates steady. European Central Bank President Mario Draghi signalled that the bank could roll out fresh stimulus as soon as July. Australia's central bank flags lower rates in jobs hunt. New Zealand first-quarter GDP growth steady, but soft underbelly keeps more rate cuts on table. Brazil’s Central Bank Keeps Key Rate at Its Record Low.

 

FINANCIAL TIMES

[I]  Fed holds rates but signals more dovish outlook 

[I]  Japanese companies brace for contentious AGM season

[I]  Italy finance minister rules out bonds to pay debts

[I]  Ireland budget plan assumes no-deal Brexit

[I]  EU to debate adopting 2050 ‘net zero’ emissions target

[I]  Balkans warn of nationalist threat over EU delay

[I]  Guatemala and US in talks over safe third-country status

[I]  Rolls-Royce plugs in to hybrid-electric future

 

REUTERS

[I]  U.S. tells India it is mulling caps on H-1B visas to deter data rules: sources

[I]  India plans to exempt electric vehicles from registration fee

[I]  Fed sees case building for interest rate cuts this year

[I]  Australia's central bank flags lower rates in jobs hunt

[I]  New Zealand first-quarter GDP growth steady, but soft underbelly keeps more rate cuts on table

[I]  All eyes on a monsoon that is critical for the economy

[I]  Column: Global economic slowdown hits oil consumption

[I]  Sri Lanka's economy recovered in first-quarter but faces slump after April bombings

[I]  Britain's bankers call for more support, tax cuts after Brexit

[I]  BOJ seen holding fire, Kuroda may offer dovish signal post-Fed

 

BLOOMBERG 

[I]  Gold Jumps to More Than 5-Year High as Fed Signals Ready to Cut

[I]  Powell Opens Door to July Rate Cut Amid Trumpian Uncertainty

[I]  Treasury 10-Year Yield Slides Below 2% to Lead Global Decline

[I]  Icelanders in Shock as Tourism Collapse Halts Economic Miracle

[I]  Fed Loses Patience, Asia Hikers Turn Cutters, Rate Bets: Eco Day

[I]  China's Pollution Crackdown to Benefit Indian Chemical Stocks

[I]  New Zealand's Sluggish Growth Leaves Door Open for RBNZ Rate Cut

[I]  Bond Market Screams at Fed: Don't Dawdle on Those Rate Cuts

[I]  Brazil’s Central Bank Keeps Key Rate at Its Record Low

[I]  Worst Growth in Decade for India’s Corporate Bond Market Fuels Concern

[I]  Fed Scraps Patient Approach and Opens Door to Potential Rate Cut

 

WALL STREET JOURNAL

[I]  Fed Holds Rates Steady, Hints at Cuts if Outlook Doesn’t Improve

[I]  Fed’s Bullard Voted Against Rate Decision

[I]  Mexico Ratifies Trade Pact with U.S., Canada

[I]  Lighthizer Plans Call With Chinese Counterpart Ahead of Trump-Xi Talks

[I]  How ‘Stealth’ Consolidation is Undermining Competition

[I]  ECB Signals Possible Rate Cut, Prompting Trump Rebuke

[I]  Women Working Longer Hours, Sleeping Less, as They Juggle Commitments

[I]  Parsing the Fed: How the June Statement Changed From May

 

BUSINESS LINE

[I]  Young Indians driving OTT video content platforms

[I]  FinMin launches phase II of faceless tax assessment

[I]  We are looking at ways to bring Russian crude oil to India: Pradhan

[I]  Broad-based monsoon spell likely for eastern and southern parts

[I]  As digital attacks surge, banks resort to cyber drills

 

ECONOMIC TIMES

[I]  Why IT cos won't pay more for your H-1B visa

[I]  34.06 million tonnes of wheat procured

[I]  Haircuts for operational creditors are at par with financial creditors: Icra

[I]  Government turns down traders’ e-commerce regulator demand

[I]  Tax body seeks extension of GST return filing by four months

 

BUSINESS STANDARD

[I]  Railways set to hive off production units in corporatisation drive

[I]  Corporate Affairs Min may amend LLP Act to tighten noose on shell firms

[I]  Top 5 metro cities account for more than 55% of OTT users: Report

[I]  With new RBI norms, investors need to be cautious about small finance arms

[I]  Carmakers pin hopes on smaller towns, cities to boost automobile sales

[I]  Secondary metals producers fear inverted duty structure could hurt

[I]  India won't allow multi-brand retail by foreign companies, says Goyal

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 11755;  USDINR DGCX: 69.5875;  DJIA Mini: 26617;  FTSE 100 Fut: 7431;  NIKKEI 225 Fut: 21380;  EUR-USD: 1.1270; Crude Oil (WTI): 54.45;  Gold (Spot): 1380

 

Best Regards, ARBIND

20 Jun 2019