MACRO ECONOMIC NEWS

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Macro Economic News 17 Jul 2019

 

India may be quietly winning the trade war between US and China. Confidence of CEOs in India over global economy falls this year. Floods in northeast India worsened with incessant rain swelling already raging rivers, inundating villages and a rhinoceros sanctuary. The EU is bracing for either a no-deal Brexit or another delay if Boris Johnson becomes UK's PM next week with a pledge to renegotiate a deal the bloc says it will not reopen. Germany's Ursula von der Leyen secured European parliamentary approval to become the first female European Commission president on a platform of a greener, fairer and rule-based Europe. Across a rapidly aging Europe, employers are finding ways to keep older staff on the job for longer, or adding new ones. American shoppers increased their spending in June and factories picked up production, adding to evidence the U.S. economy is wrapping up a solid second quarter despite challenges from abroad. U.S. industrial output was flat in June, as increases for the manufacturing and mining sectors were offset by a decline in utilities output.

 

FINANCIAL TIMES

[I]  Von der Leyen survives vote to win EU top job

[I]  ‘Rhino bond’ breaks new ground in conservation finance

[I]  India’s mango exports sour on US trade dispute

[I]  Drags on China’s growth are homegrown

[I]  Death of Phillips curve brings political foes together

[I]  It’s only fair that this tax imbalance is remedied

 

REUTERS

[I]  Ethanol to be central issue in India-Brazil meeting - industry group

[I]  U.S., Iran send conflicting signals on their disputes

[I]  U.S. House votes to block Trump bid to ease small-arms exports

[I]  As Fed approaches rate cut, policymakers debate how deep to trim

[I]  EU braces for no-deal Brexit or another delay under Johnson

[I]  India to launch rules to end gas distributors' monopoly in 34 areas

[I]  Big banks beat profit expectations but warning signs grow

[I]  Reinvent international monetary order or face Chinese dominance - France

[I]  U.S. retail sales ease fears over economy; rate cut still seen

[I]  Pakistan central bank raises key interest rate to 13.25%

 

BLOOMBERG 

[I]  Biggest Banks Feel Fed Pain as Lower Rates Start to Hit Revenue

[I]  Pound Sinks to Lowest Since 2017 on Threat of No-Deal Brexit

[I]  Plant-Based Sales Are Rising. If Only We Could Pick a Definition

[I]  Bank of Korea Faces Competing Risks as Rate Cut Pressure Grows

[I]  China's Treasury Holdings Extend Drop Amid Trade-War Escalation

[I]  In Sub-Zero World, Overseas Investors Are Loving Canada Bonds

[I]  Private Student Loan Debt Growing for College Students

 

WALL STREET JOURNAL

[I]  Outlook for Second-Quarter Growth Firms

[I]  Powell Says Fed Must Pay Greater Attention to Global Developments

[I]  U.S. Industrial Production Unchanged in June

[I]  Older Employees Breathe New Life Into Europe’s Labor Market

[I]  Fed's Kaplan Says Rate Cut Could Be Warranted Based on Bond Market

[I]  Real Time Economics: U.S. Consumers Are Propping Up the Economy

 

BUSINESS LINE

[I]  Five States make most of PM’s job scheme

[I]  Exports contract 9.71% in June; trade deficit narrows as imports dip

[I]  WPI inflation eases to near-two-year low at 2.02% in June

[I]  The tortuous path of corporate finance in India

[I]  Monsoon set to revive over South

[I]  NBFC liquidity crisis: Securitisation hits record volumes in Q1

 

ECONOMIC TIMES

[I]  India may be quietly winning the trade war between US and China

[I]  The proposal that may hit H-1B spouses hard

[I]  Tech cos have a new fix for skilling problem

[I]  Confidence of CEOs in India over global economy falls this year: KPMG

[I]  Higher I-T cess leaves India Inc a worried lot

[I]  India must tap foreign capital to trigger investment cycle: CEA

[I]  Banks bad loans down at Rs 9.34 lakh crore at FY19-end: Nirmala Sitharaman

[I]  Exports shrink as global tariff war takes toll on Indian trade

[I]  Biz optimism for Jul-Sep falls 10.7 pc amid continued slowdown in consumption

 

BUSINESS STANDARD

[I]  Tax relief on cards? Finance Bill may ring-fence FPIs from 'super-rich tax'

[I]  10-year bond yield hits lowest level since demonetisation, closes at 6.33%

[I]  Natural farming not only solution to chemicals in food: NITI Aayog member

[I]  Govt plans to fund highways by issuing bonds with attractive returns

[I]  In major boost for 'mom and pop' stores, UP cuts property tax by 70%

[I]  Govt to offer cattle, advanced biogas plants, poultry to boost rural income

[I]  Auto sales skid 10 months on the trot, new vehicle registrations down 5.4%

 

MARKETS (05:30 am)

[I]  SGX NIFTY Fut: --;  USDINR DGCX: 68.7625;  DJIA Mini: 27323;  FTSE 100 Fut: 7511;  NIKKEI 225 Fut: 21480;  EUR-USD: 1.1210; Crude Oil (WTI): 57.60;  Gold (Spot): 1405

 

Best Regards, ARBIND

17 Jul 2019