LIVING BY FAITH TRANSPIRES HUMAN BEING INTO BEING TRANSPARENTLY REAL. WISHING A HAPPENING DAY AHEAD.

Macro Economic News 24 May 2019

 

India elects for policy continuation for development under Modi. President Trump rolled out a $16 billion plan to help farmers hit by the trade conflict with China and suggested Huawei Technologies could potentially be a bargaining chip in settling the dispute. The latest increase in tariffs on Chinese imports is costing the average U.S. household $831 a year through higher prices and reduced economic efficiency, a paper published by the New York Fed said. Europe’s economic recovery appears to be stalling amid flagging international demand for its exports, according to a closely-watched business survey that puts fresh pressure on the European Central Bank to act to shore up growth. Many American households remain financially fragile and uncertain about their retirement prospects despite a booming job market that is lifting wages, according to a Federal Reserve survey released Thursday.

 

FINANCIAL TIMES

[I]  Modi’s emphatic win cements India’s nationalist shift

[I]  US companies reshape supply chains after China ultimatum

[I]  May to give firm departure date as Brexit deal founders

[I]  Eurozone manufacturing contracts as trade tensions weigh

[I]  Black borrowers more likely to fall behind on student debt

[I]  Top economist says Japan should learn to love budget deficits

[I]  More CEOs are paying for their ethical mis-steps

 

REUTERS

[I]  Dollar steady after coming off two-year high, pressured by lower U.S. yields

[I]  Asian shares at four-month low on deepening U.S.-China trade war

[I]  Japan's key inflation gauge hits 3-year high, offers little respite for BOJ

[I]  Japan keeps top creditor nation status as external assets grow

[I]  U.S. home sales, manufacturing stumble; job market resilient

 

BLOOMBERG 

[I]  Trump's $16 Billion Farmer Trade Aid Package Leaves Few Happy

[I]  BOJ's Plan to Fix Its ETF Problem Branded `Meaningless Gesture'

[I]  Bankers Stunned as Negative Rates Sweep Across Danish Mortgages

[I]  List of Stock Losers Sends a Troubling Signal to Economy Bulls

[I]  Bank Indonesia Governor Caps a Year of Trials With the Test of a Trade War

[I]  U.S.-Listed Chinese Stocks Tumble at Fastest Pace Since 2008

[I]  What Happened This Week in the World Economy and What It Means

[I]  A $1.4 Trillion India Spending Push Tops Modi 2.0 Agenda

 

WALL STREET JOURNAL

[I]  Trump Administration Rolls Out $16 Billion Farm-Aid Program

[I]  Latest China Tariffs Will Cost $831 per Household, Report Says

[I]  Eurozone Economy Slows as Demand for Exports Stalls

[I]  One-Quarter of Working Americans Have Zero Retirement Savings

[I]  Trump’s Point Man on China Trade Still Trying to Close the Deal

 

BUSINESS LINE

[I]  MODI 2.0: Bigger and broader

[I]  New govt to award lease rights for 6 non-metro airports to Adani

[I]  NBFC crisis hits clean-energy firms

[I]  China seeks to join WTO talks over ICT products tariff in India

 

ECONOMIC TIMES

[I]  Reforms, job creation need of the hour: Economists to Modi govt

[I]  View: Policy continuity needs to get priority over new reforms

[I]  Tax cuts, robust banking sector can revive private investment

[I]  India open to sharing economic prosperity with the world, says envoy

[I]  Credit view on India hinges on policies of new govt: Moody's

[I]  View: An active private sector and liberal trade policy will help the growth story7 Hours ago

 

BUSINESS STANDARD

[I]  Fiscal policy to manufacturing: What corporate leaders expect from Modi 2.0

[I]  Second Modi govt faces task of perking up economy despite fund crunch

[I]  Senior citizens with income up to Rs 5 lakh can seek TDS relief on interest

[I]  Basmati exporters hold shipments to Iran fearing payment defaults

[I]  Oil prices plunge over 5% to $67 as US-China trade tensions intensify

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11849;  USDINR DGCX:69.7200;  DJIA Mini: 25692;  FTSE 100 Fut: 7301;  NIKKEI 225 Fut: 21108;  EUR-USD: 1.1151; Crude Oil (WTI): 61.07;  Gold (Spot): 1273

 

Best Regards, ARBIND

24 May 2019

TOGETHERNESS IS THE FIRST INVENTION OF HUMANITY. WISHING A GRATIFYING DAY AHEAD.

Macro Economic News 23 May 2019

 

The Reserve Bank of India (RBI) is concerned about liquidity issues facing some Indian non-banking finance companies (NBFCs) such as mortgage or auto lenders and wants to ensure the problems do not become a systemic issue. Indian govt. plans Rs 1,000-crore fund for startups in priority areas. Many Federal Reserve officials said they expected the recent soft patch in inflation would prove temporary, but several raised concerns at their April 30-May 1 policy meeting about what might happen if price pressures continued to defy expectations by holding at lower levels. May faces cabinet revolt over Brexit deal. Singapore, Canada seek to join WTO consultations over India's ICT products tariff.

 

FINANCIAL TIMES

[I]  May faces cabinet revolt over Brexit deal

[I]  Russia enjoys warm reception in Austria

[I]  EU parliament will seek to dictate Brussels’ priorities

[I]  Trade and supply chains challenge emerging economies

[I]  Germany to spend €40bn to soften blow from coal closures

[I]  US companies face retaliation in China as trade war deepens

[I]  Former currencies star fights to revive hedge fund

[I]  America and Europe are more similar than they think

[I]  British industry needs its own moon shot

 

REUTERS

[I]  India proposes electrifying motorbikes, scooters in 6-8 years - source

[I]  Italy court acquits two ex-Leonardo bosses in India corruption case

[I]  Yen advances as trade woes, Brexit concerns shake investor confidence

[I]  Japan May flash PMI snaps back into contraction as Sino-US trade war escalates

[I]   U.S. could blacklist Chinese surveillance tech firm

[I]  RBI concerned to avert contagion from NBFC liquidity issues: sources

[I]  U.S. Fed may tweak key 'reverse repo' rate - minutes

[I]  Fed officials get a warning about a possible approach to fight the next recession

 

BLOOMBERG 

[I]  Fed Pushes Back Against Rate Cuts That Markets Continue to Seek

[I]  The Trade War's Grip on Currency Markets Tightens

[I]  Trump's Bid to Help Farmers in Trade War May End Up Hurting Them

[I]  China Stocks Are at the Mercy of Foreigners Like Never Before

[I]  Surprise Consequence of Trade War Is Likely Fewer Defaults in China

[I]  Saudi Gas Deal Signals Commitment to Oil Cuts, Brookfield Says

[I]  U.S. Opens Antitrust Probe of Real Estate Brokerage Industry

 

WALL STREET JOURNAL

[I]  Fed Minutes Show Comfort With Make-No-Moves Rate Stance

[I]  In Debate Over Fed Holdings, Officials Seek Maximum Recession-Fighting Firepower

[I]  On China, Trump Leads a Coalition of the Unwilling

[I]  Trump Says He Won’t Work With Democrats Until Probes Are Done

[I]  U.S. Could Run Out of Room on Debt Ceiling in Late Summer

[I]  Fed’s Williams: Doesn’t See Strong Argument to Raise or Lower Rates

[I]  Fed Minutes to Shed Light on Inflation Outlook

 

BUSINESS LINE

[I]  A new job market for farmers is taking root

[I]  Draft of new GST return form unveiled

[I]  Auto sector looks to new govt to get things back on track

[I]  Indian Railways hobbled by delay in rolling stock supply by private firms

[I]  Aluminium-can consumption well below global average: Ball India

[I]  Auto sector looks to new govt to get things back on track

 

ECONOMIC TIMES

[I]  Three-wheelers may have to take green route by 2023

[I]  Animal spirits are stirring again in India

[I]  RBI won't go soft on cash-strapped NBFCs

[I]  Your name & phone number may be on sale

[I]  Government plans Rs 1,000-crore fund for startups in priority areas

[I]  FinMin prepares 100-day agenda for new government; focus on boosting economy, investment

[I]  Merger and acquisition deal value drops 96% to USD 735 million in April

[I]  Singapore, Canada seek to join WTO consultations over India's ICT products tariff

 

BUSINESS STANDARD

[I]  Declining economic growth? Grim Q4 GDP numbers may greet new govt

[I]  EPFO may suspend investment in private sector bonds, say sources

[I]  Boosting private investment to be NITI's focus: Vice-Chairman Rajiv Kumar

[I]  Investors find new formula in pharma as focus shifts from US generics

[I]  Falsity in policy form can lead to claim rejection; check before signing

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11849;  USDINR DGCX:69.7200;  DJIA Mini: 25692;  FTSE 100 Fut: 7301;  NIKKEI 225 Fut: 21108;  EUR-USD: 1.1151; Crude Oil (WTI): 61.07;  Gold (Spot): 1273

 

Best Regards, ARBIND
23 May 2019

LIFE COLOURS OUR WORLD THROUGH PEOPLE; THEY TRULY CARE FOR US. WISHING A VIBRANT DAY AHEAD.

Macro Economic News 22 May 2019

 

ISRO successfully launches RISAT-2B. 46% of super-rich Indians increase investment in PE space. RBI is to create specialised supervisory, regulatory cadre. Theresa May offers vote on second Brexit referendum. Japan may ease more without delay if economy worsens. Hopes for a speedy resumption of oil exports from Russia to Poland and Germany are fading. The U.S. housing market continued to soften in April, with the spring selling season so far proving a disappointment despite falling mortgage rates and a strong economy. President Trump travels to Japan this week to keep up the pressure for a trade deal that has raised hackles among Japanese companies, while showing he is still aligned with Tokyo on North Korea policy.

 

FINANCIAL TIMES

[I]  Theresa May offers vote on second Brexit referendum

[I]  US Congress eyes sanctions on Russian gas pipeline

[I]  Crash highlights Russia’s struggling domestic industry

[I]  OECD calls on governments to loosen purse strings

[I]  S Korea exports drop as trade gloom adds to chip downturn

[I]  Draghi’s legacy is consensus on ECB’s ways

[I]  Falling sales at big US department stores spark sell-off

[I]  Corporate India has no time to waste on debts

 

REUTERS

[I]  BOJ's Harada says must ease more without delay if economy worsens

[I]  Brazil lower house votes to allow foreign airlines in domestic market

[I]  U.S. business group says retaliation rising in China amid trade war

[I]  Trump tells Congress to ratify trade deal before dealing with infrastructure

[I]  Russian oil flows to Europe drop amid contamination

[I]  RBI to create specialised supervisory, regulatory cadre

[I]  Japan exports fall again but business sentiment offers hope

[I]  Fed officials see past misses as trouble for any new inflation approach

[I]  UK housing market weathers Brexit clouds, but sharp gains unlikely: Reuters poll

 

BLOOMBERG 

[I]  Long-Short Strategies Are Finally Coming to Chinese Stocks

[I]  Existing Home Sales Appear to Be Muted More by Price Than Supply

[I]  Hybrid CDOs Are ‘Cheapest Thing in the Entire Globe,’ CSAM Says

[I]  Trump Readies New Round of Aid to Farmers Hit by China Trade War

[I]  Fed's Other ‘QE’, Yuan's Risky Behavior, Japan Exports: Eco Day

[I]  Japan’s Exports Fall for Fifth Month Amid Trade Tensions

[I]  Currency Strategists Brace for Trade War Worse-Case Scenarios

[I]  Russia’s Economy Gives Putin Reasons Not to Extend OPEC+ Deal

[I]  Short Aussie, Long Yen Is the Hot New Currency Bet for Trade War

[I]  China Dollar-Loan Market Plunges 62% This Year Amid Trade War

 

WALL STREET JOURNAL

[I]  Potential Fed Nominee Would Seek Shake-Up of Interest-Rate Policy

[I]  U.S. Existing-Home Sales Fell in April

[I]  Trade Disputes Are Weakening Future Growth, OECD Says

[I]  U.S.-China Trade Talks Will End in a Deal, Former Negotiator Says

[I]  Trump to Press for Trade Deal in Trip to Japan

[I]  Fed’s Rosengren Sees No Reason to Change Rate Policy Right Now

[I]  May Lays Out New Brexit Plan Seeking More Opposition Support

 

BUSINESS LINE

[I]  EPFO looks to pull back NBFC investments to avert default risk

[I]  Govt turns the heat on directors in fight against shell companies

[I]  High-level committee proposes higher gas price for existing/new discoveries

[I]  Homeowners, small businesses can look forward to affordable insurance soon

[I]  SC vacates stay on retrospective applicability of black money law

[I]  Small trucks see growth, bucking industry slowdown

[I]  46% of super-rich Indians to increase investment in PE space

[I]  Debt-wary FPIs continue to press the sell button

 

ECONOMIC TIMES

[I]  Slowdown pangs to be felt by commercial vehicle segment too

[I]  ISRO successfully launches RISAT-2B

[I]  The only people shopping in a slowing India

[I]  I-T department proposes to seek more details on foreign donations from trusts

[I]  India projected to grow at 7.1% in FY'20: UN report

[I]  RBI to set up special panel for regulation of banks, NBFCs

[I]  Singapore, Canada seek to join WTO consultations over India's ICT products tariff

[I]  59% Indian millennials optimistic about economic outlook: Deloitte study13 Hours ago

 

BUSINESS STANDARD

[I]  Mobile user base dips 22 mn in March, suffers biggest fall since April 2018

[I]  RBI rules out credit line for NBFCs, discusses revised bad loan circular

[I]  India's economic growth set to gain pace despite US-China trade conflict

[I]  India, Myanmar hold joint naval drill as New Delhi cements leadership role

[I]  I-T dept set to bring changes in tax audit report for charitable trusts

[I]  India's import cover falls marginally to 9.1 months at end of Dec 2018: RBI

[I]  How much can oil prices impact India's import bill in post-sanctions era?

[I]  High level committee recommends strategy to reduce crude oil imports

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11737;  USDINR DGCX:69.7300;  DJIA Mini: 25881;  FTSE 100 Fut: 7334;  NIKKEI 225 Fut: 21344;  EUR-USD: 1.1161; Crude Oil (WTI): 63.00;  Gold (Spot): 1274

 

Best Regards, ARBIND
22 May 2019

“I LOVE YOU STUPID, NO MATTER WHAT” SETS EVERYTHING RIGHT FOR YOUR NEAR AND DEAR. WISHING A MAGICAL DAY AHEAD.

Macro Economic News 21 May 2019

 

New data show people are in worse financial shape than every preceding living generation, and may never recover. Their woes have delayed traditional adult milestones in ways expected to alter demographic and economic contours. Europe’s central banks haven’t been able to wean the Eurozone from cheap money, which distorts economies and leaves little ammunition to cushion the next downturn. Spending on factories, equipment and other capital goods slowed in the first quarter among a broad cross-section of large, U.S.-listed firms, bolstering investor concerns that a key driver of economic growth is fading. FED Chairman Jerome Powell said financial regulators must take seriously potential dangers that rising levels of business debt pose to the U.S. economy but said some comparisons to last decade’s subprime mortgage bubble overstate the risks. The US and China are digging in for a longer, costlier trade war. Beijing accused Washington of harboring "extravagant expectations" for a deal to end their dispute. U.S. President Donald Trump issued a new threat to Tehran, tweeting that a conflict would be the "official end" of Iran, as Saudi Arabia warned it stood ready to respond with "all strength" and said it was up to Iran to avoid war.

 

FINANCIAL TIMES

[I]  Capitalism’s social value may now be in question

[I]  Japan’s economy defies forecasts of Q1 slowdown

[I]  Trump warns Iran it will never develop nuclear arsenal

[I]  Disinformation war shifts ground ahead of EU elections

[I]  Indonesia’s next president faces hurdles on the economy

[I]  European companies forced to hand tech to China

[I]  Credit quality declines at big US business lenders

[I]  Tax reform typo creates costly headache for US retailers

 

REUTERS

[I]  Singapore downgrades 2019 GDP forecast as first-quarter growth hits decade low

[I]  Australian regulator to ease assessment criteria on mortgage affordability

[I]  U.S. eases some restrictions on China's Huawei to keep networks operating

[I]  Brazil government to freeze $1.2 billion, cut growth estimates -sources

[I]  Worries of longer, costlier U.S.-China trade war hits markets

[I]  Fed's Powell: Business debt no subprime crisis, but still merits reflection

 

BLOOMBERG 

[I]  China Warns About ‘Unwavering Resolve’ to Fight U.S. ‘Bullying’

[I]  Indonesia Stocks Are Having a Bad Year. It Could Get Worse

[I]  Record-Breaking Kiwi Stocks Overtake China as Asia's Best Market

[I]  SEC Again Postpones Long-Awaited Decision on a Bitcoin ETF

[I]  OPEC Founder Venezuela Pumps Less Oil Than Three of Its Neighbors

[I]  U.S. Corn Planting Is Slowest on Record for This Time of Year

[I]  Singapore's Economy Gains 3.8% as Construction Rebounds

[I]  The Trade War Is Keeping Foreigners Away From China Markets

 

WALL STREET JOURNAL

[I]  Negative Rates, Designed as a Short-Term Jolt, Have Become an Addiction

[I]  ‘Playing Catch-Up in the Game of Life.’ Millennials Approach Middle Age in Crisis

[I]  Fed’s Williams Says It’s ‘Good’ Economy Can Have Strong Job Market Without Inflation

[I]  Fed’s Harker: Monetary Policy Can’t Be Run on Rules Alone

[I]  Real Time Economics: The U.S.-China Trade Battle is Spilling Into Your Smartphone

[I]  Big Companies Tightened Spending as Trade Fears Intensified

[I]  Fed’s Powell Warns of Economic Risks From Rising Business Debt

 

BUSINESS LINE

[I]  High Court issues notice to Centre and Delhi govt on ‘blocked credits’ under GST

[I]  Your health policy may soon cover all flanks

[I]  WTO: US seeks to join Japan-India consultations on IT product tariffs

[I]  PE inflows into Indian retail double to $1.2 b in 2 years

[I]  Drought: Maharashtra sugarcane output set to shrink next season

[I]  IRDAI proposes higher third-party premium for cars, two-wheelers

 

ECONOMIC TIMES

[I]  NITI Aayog boss speaks on revving up the economic engine

[I]  Inside RBI's blueprint for the NBFC rescue

[I]  WTO warns trade weakness to continue in Q2 as global indicator remains at 9-year low

[I]  Gold imports rise 54 per cent to $3.97 billion in April

[I]  India looks to fight alone at WTO on global e-commerce rules

[I]  India may witness longer slowdown as oil imports, consumption decline

 

BUSINESS STANDARD

[I]  Corporate earnings may disappoint again: 564 firms' combined net down 10%

[I]  Client spend in BFSI, health care to hit IT outsourcing opportunity

[I]  Trade growth slowdown likely to worsen amid tariff war, says WTO

[I]  Revamp of labour conference may give boost to reforms in key laws

[I]  HC allows input tax credit under GST regime to realtor making shopping mall

[I]  SC to hear Centre's plea on applicability of black money law today

[I]  In a first, Maharashtra proposes single-window registration of land titles

 

MARKETS (07:00 am)

[I]  SGX NIFTY Fut: 11871;  USDINR DGCX:69.8900;  DJIA Mini: 25764;  FTSE 100 Fut: 7308;  NIKKEI 225 Fut: 21199;  EUR-USD: 1.1165; Crude Oil (WTI): 63.30;  Gold (Spot): 1276

 

Best Regards, ARBIND
21 May 2019