MACRO ECONOMIC NEWS

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Macro Economic News 14 Jun 2019

 

India's market regulator ordered enhanced disclosure norms for credit rating agencies in an effort to increase transparency as the country reels under a slew of rating downgrades and defaults that have roiled debt and equity markets. Most economic forecasters are pessimistic the Trump administration’s trade-tariff policy will reap long-term benefits for the economy, according to The Wall Street Journal’s latest monthly survey. More than three-quarters of economists surveyed expect the Fed’s next move will be to lower interest rates. External pressure serves China’s long-term interests, providing rare insight into how he frames the high-stakes tussle between the world’s two biggest economies.

 

FINANCIAL TIMES

[I]  US blames Iran for Gulf of Oman tanker attacks 

[I]  Hong Kong mood darkens as hard hats replace umbrellas

[I]  Italy’s warring coalition turns its fire on Brussels

[I]  ECB pushes euro in move against dollar’s dominance

[I]  German government warns on economic headwinds

[I]  Russia says US build-up in Poland ‘undermines stability’

 

REUTERS

[I]  India plans to launch own space station: ISRO

[I]  China extends anti-dumping duties on some steel tubes, pipes from U.S, EU

[I]  Oil prices ease, but Middle East tanker attacks support

[I]  U.S. blames Iran for tanker attacks in Gulf of Oman, Iran rejects assertion

[I]  China chip industry insiders voice caution on catch-up efforts

[I]  SEBI tightens credit rating norms after defaults, downgrades

[I]  Hong Kong protesters scuffle with police, government offices shut

[I]  Brexit supporter Johnson far ahead in contest to replace British PM

[I]  OPEC cuts oil demand outlook, building case to keep supply curbs

[I]  U.S. recession odds rise to 40-45% in six months - DoubleLine's Gundlach

[I]  Emerging markets entering dangerous phase: Societe Generale

 

BLOOMBERG 

[I]  Blue Apron Tumbles After Reporting 1-for-15 Reverse Stock Split

[I]  Transatlantic Inflation Worries Keep Central Banks in Spotlight

[I]  Hong Kong's Long-Term Economic Role Is at Stake Amid Demonstrations

[I]  Hong Kong Liquidity Tightens as Markets Fall, Protests Hit City

[I]  Surging Cash Piles Leave States as Ready as Ever for a Recession

[I]  U.S., Canada, Brazil Oil Output Nearly Doubles in Last Decade

 

WALL STREET JOURNAL

[I]  How Washington Learned to Love Debt and Deficits

[I]  Trump Tariffs Are Short-Term Pain Without Long-Term Gain, Economists Say

[I]  Most Economists Say Fed's Next Move Is Rate Cut, Survey Says

[I]  Trump Could Retaliate if Xi Balks at Trade Meeting, Kudlow Says

[I]  U.S. Jobless Claims Rose Last Week

[I]  Attacks Scramble a Crucial but Dangerous Shipping Route

[I]  China’s Trade Frontman Points, With Laser, to Bright Side of U.S. Tensions

 

BUSINESS LINE

[I]  Debt default bogey forces SEBI to tighten screws on rating firms

[I]  India to have its own space station in 7 years

[I]  Tax sops sought to boost investments in corporate bonds, term plans

[I]  India asks Canada to take a relook at work visa rules that affect mobility

[I]  Buoyed by RBI’s accommodative stance, FPIs turn net buyers in G-Secs

[I]  NBFC crisis: Looking beyond MFs

[I]  Hike in import duty expected to boost domestic processing of cashews

[I]  Banks to take a relook at large stressed accounts

 

ECONOMIC TIMES

[I]  Govt just gave employees a reason to cheer

[I]  India's EV dream has a battery problem

[I]  Not fast and furious, it's a slow turn for consumer companies

[I]  Sugar output in India seen sinking to 3-year low on dry weather

[I]  Low-pressure area in Bay of Bengal good for monsoon's progress

[I]  Budget 2019: Infrastructure sector seeks more capital and tax rebates

[I]  Government reduces ESI contribution rate to 4 per cent

 

BUSINESS STANDARD

[I]  Govt may roll over Rs 62,000 cr in fuel, fertiliser subsidies to FY21

[I]  Sebi hit the brakes on 'free of cost' transfers for FPIs in past year

[I]  Telecom panel tells Trai to review recommendations on 5G spectrum sale

[I]  Big listed real estate companies drive profits home in a dull market

[I]  Liquidity management tool: RBI may have to balance old norms with the new

[I]  Govt reduces rate of contribution towards ESI scheme, employers to benefit

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11896;  USDINR DGCX: 69.6100;  DJIA Mini: 26158;  FTSE 100 Fut: 7380;  NIKKEI 225 Fut: 21020;  EUR-USD: 1.1279; Crude Oil (WTI): 52.17;  Gold (Spot): 1350

 

Best Regards, ARBIND

14 Jun 2019