MACRO ECONOMIC NEWS

THE FREEDOM IS THE SECRET TO HAPPINESS. WISHING A CHEERFUL DAY AHEAD.

Macro Economic News 09 Jul 2019

 

Indian farmers have planted 23.4 million hectares with summer crops, down 27% from a year ago, buffeted by patchy rains that slowed down sowing in the country. Top American and China negotiators are set to speak this week in an effort to revive stalled trade talks, as disagreements over prior commitments and political considerations threaten to bog down discussions. China’s economic slowdown has exposed how some of the country’s biggest private companies are struggling to manage excessive debt taken on amid easy lending. Raising the federal pay floor to $15 an hour, would cost 1.3 million Americans their jobs but deliver a raise for 17 million workers.

 

FINANCIAL TIMES

[I]  US barred Hong Kong consul from giving tough speech on protests

[I]  New Greek government vows to get economy moving

[I]  Chinese VC spending on US biotech hit by security reviews

[I]  Trump says US will no longer deal with UK ambassador

[I]  France ramps up efforts to save Iran nuclear deal

[I]  Modi’s budget unlikely to supercharge India economy

[I]  German industrial output recovers in May

 

REUTERS

[I]  India aims to raise $2.18 billion by cutting stakes in 18 firms to 75%: source

[I]  Iran makes new nuclear threats that would reverse steps in pact

[I]  Japan not thinking of scrapping South Korea export curbs: Seko

[I]  Dollar regains footing as bets on aggressive U.S. rate cuts fade

[I]  China's war on pollution could boost solar power - study

[I]  Australia to raise bank capital buffers by less than expected

[I]  UK Labour's trade union backers support second referendum on Brexit deal

[I]  Summer crop planting down 27% in India on patchy monsoon rains

[I]  U.S. consumer inflation outlook rises for first time in three months - NY Fed survey

[I]  China June new loans seen at five-month high as central bank keeps liquidity ample

 

BLOOMBERG 

[I]  Australian Banks Win Regulator’s Concession on Capital Buffer

[I]  Japan’s Wages Fall Again, Adding to Concerns Over Tax Hike

[I]  Corn Finally Catches a Weather Break in the U.S.

[I]  Trump's Trade War Is Turning Out to Be a Boon for Bangladesh

[I]  World's Dovish Trend Bypasses Israel for Now as a Rate Hike Looms

[I]  An Oil Behemoth Is Worth Less Than Its Energy Reserves In the Ground

[I]  Croatia’s Reforms for Euro Bid Backed by Region’s Finance Chiefs

[I]  U.S. Consumer Borrowing Climbs on Bigger Credit Card Balances

 

WALL STREET JOURNAL

[I]  U.S., China Tentatively Move to Revive Trade Talks

[I]  Heavy Debt Humbles China’s Business Champions, Including the Jewelry Queen

[I]  Debt-Limit Deadline Accelerates, Research Group Finds, Raising Pressure on Congress

[I]  $15 Minimum Wage Would Bring Mixed Fortunes for U.S. Workers

[I]  New York Fed Says Inflation Expectations Ticked Higher in June

[I]  For Europe, There’s an Upside to Germany’s Slowdown

[I]  Real Time Economics: Stimulus Goes Missing, Too Many SUVs, Not Enough Gas Pipelines

 

BUSINESS LINE

[I]  Union Budget paves the way for a PSU general insurance behemoth

[I]  Mutual fund assets dip 6% as debt investors cash out

[I]  India Inc wants restricted market access for China under RCEP pact

[I]  Consumer Protection Bill gets more teeth

[I]  Road freight charges up by 2-2.5%: IFTRT

[I]  Mutual fund assets dwindle 6% as debt investors cash out

[I]  Fresh rains projected for South Peninsula this week

[I]  RBI Governor expects banks to lower lending rates

 

ECONOMIC TIMES

[I]  Trai refuses to budge on 5G spectrum pricing

[I]  India could raise $10 billion from first foreign bond sale

[I]  Redemption reserves clause gone, non-bank cos will bank on bonds

[I]  Maharashtra's sugar industry seeks permission to make ethanol from sugar

[I]  Consumption tale twist: Bharat lags India in June quarter

[I]  Still a long way to go to raise public health expenditure to 2.5 per cent of GDP

 

BUSINESS STANDARD

[I]  Govt likely to monetise Indian Railways' heritage routes and stadia

[I]  No clarification over FPI surcharge needed at present, says FM Sitharaman

[I]  Rajya Sabha passes Bill on voluntary use of Aadhaar as identity proof

[I]  For top financiers, the slowdown is catching up faster than anticipated

[I]  Financial system's liquidity is in 'huge' surplus, says RBI governor

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 11556;  USDINR DGCX: 68.7275;  DJIA Mini: 26767;  FTSE 100 Fut: 7483;  NIKKEI 225 Fut: 21550;  EUR-USD: 1.1214; Crude Oil (WTI): 57.53;  Gold (Spot): 1393

 

Best Regards, ARBIND

09 Jul 2019