MACRO ECONOMIC NEWS

WE ARE HOUSEPLANTS WITH MORE COMPLICATED EMOTIONS; WE NEED MORE WATER AND SUN. WISHING A BRIGHT DAY AHEAD.

Macro Economic News 19 Jun 2019

 

China and the United States are rekindling trade talks ahead of a meeting next week cheering financial markets with hope that an escalating trade war between the two countries would abate. Confidence among Asian companies in the June quarter fell to its lowest since the 2008-09 financial crisis, a Thomson Reuters/INSEAD survey found. European Central Bank President Mario Draghi signalled that the bank could roll out fresh stimulus as soon as July, sending the euro lower against the dollar and prompting an unusual rebuke from President Trump. A gauge of U.S. home building declined in May, a fresh sign of weakness in the housing market. President Trump ratcheted up pressure on the Federal Reserve ahead of a major interest-rate decision, suggesting he could consider demoting Chairman Jerome Powell depending on the outcome.

 

FINANCIAL TIMES

[I]  Trump hits out at Draghi over fresh stimulus signal

[I]  Russia defies pipeline threats over gas for Europe

[I]  Trump will have ‘extended meeting’ with Xi at G20

[I]  Tanker attacks add pressure on EU to turn against Iran

[I]  Berlin to impose 5-year rent freeze

[I]  German economic sentiment plummets in June — Zew

[I]  Private equity groups prepare to raise mega funds

 

REUTERS

[I]  U.S., China rekindle trade talks ahead of G20 summit

[I]  Japan exports slide for sixth month as trade troubles knock demand, weaken outlook

[I]  G20 summit to debate trade including WTO reform: Japan's Asakawa

[I]  China to maintain anti-dumping tariffs on U.S. distillers grains

[I]  Japanese businesses see economy peaking out, want more stimulus - Reuters poll

[I]  Trade tensions kick Asian business confidence to 10-year low - Thomson Reuters/INSEAD

[I]  India to review data storage rules that irked U.S. tech firms

[I]  Trump pressures Fed's Powell: 'Let's see what he does'

[I]  World Bank: China's Belt and Road can speed development, needs transparency

[I]  Exclusive: Left in the dark, ECB policymakers divided on stimulus options

[I]  World Bank lends $918 million for Pakistan tax reforms

 

BLOOMBERG 

[I]  Time to Take Money Out of India's Stocks, Top Life Insurer Says

[I]  Demoting Powell, China's Rainbow Economy, `No One Died': Eco Day

[I]  U.S. Steel, Darling of Trump's Tariffs, Plans to Idle Plants

[I]  Transparency Push Eyes a Bastion of Asia Bond-Market Secrecy

[I]  OPEC+ Close to Agreeing Next Meeting Takes Place on July 1-2

[I]  Huge Wall of Maturing Debt Looms for India's Shadow Lenders

[I]  BOJ Seen Holding for Now Amid Easing Talk: Decision Day Guide

 

WALL STREET JOURNAL

[I]  Fed Policy Makers Debate Rate Cut

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

[I]  Trump, Xi to Meet on Trade at G-20

[I]  U.S. Housing Starts Fell in May

[I]  Bonuses Drop, Signaling Tax-Cut Payouts Were a One-Time Windfall

[I]  House Democrats Unveil Tax-Break Extensions

[I]  Trump Suggests He Could Consider Demoting Fed Chairman

[I]  Real Time Economics: Fed Forced to Weigh Mixed Economic Signals

 

BUSINESS LINE

[I]  Budget could set stage for a new-look Income-Tax Act

[I]  RBI expert panel moots doubling collateral-free loans for MSMEs

[I]  Domestic air passenger traffic rises 2.9% in May

[I]  Centre mulls performance-related pay for major port workers

[I]  SEBI allows futures trading in commodity indices

[I]  Provide feedback on draft e-comm policy within 10 days: Goyal

[I]  Heat wave in North-West abates; TN may get rain on Saturday

[I]  RBI panel recommends doubling collateral-free loans for MSMEs

 

ECONOMIC TIMES

[I]  World's 'low-cost factory' could hit a snag

[I]  Entrepreneurs may win big this Budget

[I]  US, Europe yields tank on Draghi talk of easing

[I]  Fear over the City: India bond yield at 20-month low

[I]  RBI to infuse Rs 12,500 crore liquidity through bond purchases

[I]  RBI to address India Inc's data woes

[I]  GST on electric vehicles may be reduced to 5%

[I]  Centre rules out bringing oil products under GST for now

 

BUSINESS STANDARD

[I]  RBI panel on MSMEs suggests Rs 20 lakh collateral-free loan under Mudra

[I]  Foreign investors picking controlling stakes in companies on the rise

[I]  Reverse migration: Food-tech, e-commerce firms bring jobs closer to home

[I]  Fertiliser movement through coastal shipping now eligible for subsidy

[I]  India lags on per capita digital transactions, but is on the track

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 11743;  USDINR DGCX: 69.6075;  DJIA Mini: 26518;  FTSE 100 Fut: 7456;  NIKKEI 225 Fut: 21260;  EUR-USD: 1.1194; Crude Oil (WTI): 53.96;  Gold (Spot): 1344

 

Best Regards, ARBIND

19 Jun 2019