MACRO ECONOMIC NEWS

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Macro Economic News 10 Jun 2019

 

China’s trade surplus hit its highest for 2019. As per G-20 finance leaders, trade and geopolitical tensions have "intensified", raising risks to improving global growth. RBI would closely monitor the health of non-banking financial companies and it would not hesitate to take corrective measures, if needed, to address issues in the shadow banking sector. Although almost no one saw the nosedive in government bond yields coming, a few were positioned well enough to profit. 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.

 

FINANCIAL TIMES

[I]  Digital giants face tax setback after G20 agreement

[I]  Eastern Germany on the brink of demographic collapse

[I]  Trump hints at extra measures in Mexican migrant deal

[I]  Latin America resists US pressure to exclude Huawei

[I]  Moldovan court relieves president of his duties

[I]  Qatar warns US-Iran stalemate could trigger conflict

[I]  Chinese exports unexpectedly climb in May 

[I]  South Korea agrees deal with UK for post-Brexit trade

 

REUTERS

[I]  RBI to enhance monitoring of shadow banking firms: Das

[I]  World's top economies lay out principles on debt sustainability at G20 meet

[I]  Hong Kong plunged into political crisis after huge protest against extradition law

[I]  Qatar says U.S. needs Palestinians on board for Middle East peace plan

[I]  G20 agrees to wrap up Big Tech tax rules by 2020

[I]  IMF's Lagarde highlights potential disruptive nature of fintech

[I]  In stagnant Japan, ECB policymakers catch glimpse of their own future

[I]  Japan's Aso says did not raise FX provision issue in talks with Mnuchin

[I]  ECB policymakers open to cut rates if growth weakens: sources

[I]  Pakistan sees 2019 GDP growth at 3.3%, sharply below target

 

BLOOMBERG 

[I]  Key Takeaways From G-20 Finance Chiefs' Meetings

[I]  Mnuchin Says Trade Talk With PBOC's Yi Gang Was Constructive

[I]  Gold Giants Battling to Lure Back Investors Who Fled Industry

[I]  France Plays Down Selling Renault Stake While in Japan For G-20

[I]  The African Nation Built on Gold Loses Its Crown to a Rival

[I]  Chinese Exports Rebound, Imports Drop Amid Trade Tensions

[I]  Japan’s Buoyant Growth Figures Mask Weaknesses in Economy

[I]  Trade War, Property Slowdown Hammer China's Furniture Stocks

[I]  A Fed Rate Cut Looks More Likely. The Question Is When and by How Much

[I]  Blockchain's Appeal Is Limited for Retail Banks, McKinsey Says

[I]  Mexico Deal Puts Peso in Play While Global Trade Worries Persist

[I]  PBOC’s Yi Tells G-20 Meeting China to Keep Yuan Basically Stable

[I]  ‘Existential Threat’ to WTO Ignored by G-20 Statement, EU Says

 

WALL STREET JOURNAL

[I]  G-20 Financial Leaders Criticize Trade Tensions for Impact on Growth

[I]  Some Investors Had Hunch Yields Were About to Fall

[I]  A Worrying Jobs Number With Trade Hit Looming

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

[I]  Economy Week Ahead: U.S. Inflation, Retail Sales Data

[I]  President Spoke With Fed Chairman Amid Public Campaign for Lower Rates

 

BUSINESS LINE

[I]  Govt’s savings from DBT grow manifold in FY19

[I]  Govt mulling national institute for valuers

[I]  Scheduled banks healthier now as gross NPA ratio dips in FY19

[I]  RBI Governor calls for system to evaluate performance of bank chiefs

[I]  Rate-cut may not trigger spurt in investment

 

ECONOMIC TIMES

[I]  NBFC crisis could hit realty sector's recovery

[I]  G20 takes note of trade wars hurting growth

[I]  Monsoon advances into Kerala, Tamil Nadu

[I]  Reforming WTO: Experts concerned over silence on development

[I]  Incentives on cards to push Industry 4.0

[I]  More items likely to go off highest GST slab

[I]  Need to relook at regulation and supervision of NBFCs: RBI Governor

[I]  GST Council to meet on June 20, may fix Rs 50 cr turnover threshold for e-invoice under GST

 

BUSINESS STANDARD

[I]  Budget 2019: FM Sitharaman may retain fiscal deficit target at 3.4% of GDP

[I]  Warehousing sees surge in private equity investment and leasing activity

[I]  Banks opting for one-time settlement as NCLT waiting time goes up

[I]  NITI Aayog's electric mobility proposal irks India's auto industry

[I]  Industry blames policies, USFDA probes for 73% drop in pharma FDI

[I]  India, US working on framework for sharing of classified defence technology

[I]  RBI's easing of monetary policy vs banks' lending rates explained in charts

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11956;  USDINR DGCX: 69.5175;  DJIA Mini: 26081;  FTSE 100 Fut: 7358;  NIKKEI 225 Fut: 21110;  EUR-USD: 1.1314; Crude Oil (WTI): 54.27;  Gold (Spot): 1330

 

Best Regards, ARBIND

10 Jun 2019