MACRO ECONOMIC NEWS

SOMETIME SA WALKTHROUGH THE MEMORY LANE BRINGS HAPPINESS. WISHING A MEMORABLE DAY AHEAD.

Macro Economic News 10 Jul 2019

 

India's retail inflation likely reached an eight-month high in June on rising food prices, but stayed under the Reserve Bank of India's medium-term target of 4% for an eleventh straight month, a Reuters poll predicted. Dividend drought is getting longer, bigger for equity shareholders in India. U.S. President Donald Trump repeated his complaints that India's tariffs on U.S. products were unacceptable but he did not indicate whether he would take any further action in the trade row between the two nations. U.S. and Chinese trade officials held a "constructive" phone conversation on Tuesday, White House economic adviser Larry Kudlow said, marking a new round of talks after the world's two largest economies agreed to a truce in a year-long trade war.

 

FINANCIAL TIMES

[I]  Mexican finance minister quits citing clashes with president

[I]  Greek bond yields drop below US Treasuries

[I]  Environmental criticism mounts over EU-South America trade deal

[I]  France to impose green tax on departing flights

[I]  Greece’s new finance minister warns of economic ‘bombs’

[I]  Ireland steps up cross-border plans for no-deal Brexit

[I]  Australia dilutes planned capital targets for big banks

 

REUTERS

[I]  Trump again says Indian tariffs unacceptable

[I]  U.S. wants North Korea freeze as beginning, not end, of denuclearization

[I]  Japan export curbs could be prolonged, says South Korea's Moon

[I]  Mexico's new finance minister does not see impending recession

[I]  U.S., Chinese negotiators hold 'constructive' phone talks on trade

[I]  India inflation likely rose in June, but below RBI target: Reuters poll

[I]  Trump blasts 'foolish' UK PM May and her 'wacky' envoy over leaked memos

[I]  Britain's PM hopefuls battle over Brexit in bad-tempered debate

 

BLOOMBERG 

[I]  China Deflation Fears Return as Factory Prices Stop Rising

[I]  Traders Are Certain the Fed Will Cut in July, But Unsure What’s Next

[I]  Trade War Threatens Chinese Factories’ Existence, Supplier Says

[I]  The Bond Rally Is So Wild Investors Are Piling Into Italy’s 50-Year Debt

[I]  Homeowners in U.S. Hold Back on Selling as Buyers Get Pickier

[I]  China Wants Its Own Goldman Sachs. It Has a Big Headache Instead

[I]  Investors Might Be Underpricing Draghi’s Desire for a July Move

[I]  Turkey Is Heading for Economic Collapse, Ashmore Says

[I]  Dubai’s Jobless Recovery Adds Asterisk to Biggest Boom in Years

 

WALL STREET JOURNAL

[I]  Powell’s Approach to Interest Rates Wins Bipartisan Backing

[I]  Fed’s Powell Says Stress Tests Must Evolve to Avoid Bank Complacency

[I]  Fed Wants to Teach Banks Through Stress Tests, Not Fail Them

[I]  What to Watch in Fed Chairman’s Congressional Testimony

[I]  Philadelphia Fed’s Harker Sees No Need for Interest-Rate Changes

[I]  U.S. Job Openings Slipped in May to 7.3 Million

 

BUSINESS LINE

[I]  CBDT rules out any rethink on buyback tax

[I]  PFRDA to roll out campaign on benefits of NPS investment

[I]  Survey on to identify under-utilised government assets: NITI Aayog chief

[I]  Buyback tax aimed at rooting out arbitrage play in listed shares: CBDT

[I]  Services exports sailing in choppy waters

[I]  Rain deficit narrows to 17%, but masks slippage in South

[I]  Strong ecosystem needed for FPOs to thrive, say experts

 

ECONOMIC TIMES

[I]  Multiple hurdles in rain water harvesting: India Inc

[I]  What follows when a govt taxes everything

[I]  Oil rises towards $65 as supply concerns outweigh trade disputes

[I]  About $94 billion worth NRI deposits come up for maturity in FY 20

[I]  Sovereign borrowing in foreign currencies: Original sin or salvation?

[I]  India lowers duty on 400,000 tonnes of corn imports as prices jump

[I]  $5 trillion economy eminently doable: Niti Aayog VC

 

BUSINESS STANDARD

[I]  Financial stress in aviation sector hits in-flight connectivity plans

[I]  Dividend drought is getting longer, bigger for equity shareholders in India

[I]  India urges Indonesia to reduce import quota restrictions on auto sector

[I]  Mining in the deep end: Iron ore and manganese miners are staring at mayhem

[I]  Sharp rise in gold smuggling likely after duty hike, govt gets into action

[I]  Residential property prices dip in Mumbai, Chennai and Kolkata in H1

 

MARKETS (09:30 am)

[I]  SGX NIFTY Fut: 11571;  USDINR DGCX: 68.7525;  DJIA Mini: 26778;  FTSE 100 Fut: 7479;  NIKKEI 225 Fut: 21530;  EUR-USD: 1.1208; Crude Oil (WTI): 58.61;  Gold (Spot): 1392

 

Best Regards, ARBIND
10 Jul 2019