“DON’T TELL YOUR MOM, IDIOT!” IS THE BEST PIECE FROM A DAD. WISHING FOR A HAPPY FATHER’S DAY AHEAD.

Macro Economic News 15 Jun 2019

 

India's trade deficit widened to $15.36 billion in May from a year ago. Central banks in emerging markets around the world are cutting interest rates; with Russia the latest example, as expectations of easier money in the U.S. gives developing markets the room to stimulate their economies. American shoppers ramped up their spending in May, providing critical fuel for the U.S. economy’s continued expansion despite trade tensions and slowing global growth while U.S. household sentiment fell at the beginning of June as renewed trade tensions tapered optimism and smaller gains in employment suggested slower economic growth. Political support for taming federal debt has melted away, and the U.S. is testing just how much it can borrow as few see evidence of dire economic consequences today. Chinese economic data on industrial output and investment added to evidence of a slowdown that some economists said risks breaching the government’s 6% bottom line for growth.

 

FINANCIAL TIMES

[I]  Trump blames Iran for oil tanker attacks

[I]  US universities reconsider links with Chinese AI company

[I]  US economy: the Fed tries to predict politics

[I]  Strong economic data eases fears of US slowdown

[I]  EU ministers split over eurozone budget financing

[I]  China’s industrial output growth falls to record low

[I]  Betting companies double down on deregulated markets

 

REUTERS

[I]  India set to levy higher tariffs on some U.S. goods next week: sources

[I]  Brazil asks for WTO investigation of Indonesia on poultry trade

[I]  U.S. to launch public hearings on additional China tariffs next week

[I]  India's May trade deficit widens to $15.36 billion

[I]  Trump presses Lockheed to keep open a Pennsylvania plant slated for closure

[I]  U.S. to launch public hearings on additional China tariffs next week

[I]  Strong U.S. retail sales improve economy's fortunes

 

BLOOMBERG 

[I]  Oil Short-Selling Surges as Global Demand Outlook Deteriorates

[I]  Argentina’s Rally Is ‘Too Far, Too Fast’ After a Blockbuster Week

[I]  It’s Not Just Corn, U.S. Farmers May Forgo Near-Record Soy Acres

[I]  Bank of England to Keep Key Rate Unchanged as Outlook Darkens

[I]  U.S. Consumer Sentiment Falls in June Amid Tariff Concerns

[I]  India Trade Gap Widens Marginally as Exports Stay Under Pressure

[I]  U.S. Factory Output Rose in May Amid Trade War Uncertainty

[I]  BOE’s Carney Calls for Diversity to Stop Groupthink in Banking

[I]  Emerging-Market Investors Prepare for Fresh Wave of Rate Cuts

 

WALL STREET JOURNAL

[I]  U.S. Consumers Boost Spending Despite Trade Tensions

[I]  The GOP Senator Who Challenges Trump on Trade Policies

[I]  How Washington Learned to Love Debt and Deficits

[I]  China’s Economy Shows Fresh Signs of Weakness

[I]  Emerging Markets Cut Rates Amid Expectations of Looser Fed Policy

[I]  Trump Could Retaliate if Xi Balks at Trade Meeting, Kudlow Says

[I]  U.S. Consumer Sentiment Falls in Early June, Driven by Tariff Concerns

[I]  U.S. Industrial Production Rebounded in May

 

BUSINESS LINE

[I]  India readies retaliatory duties on 29 US goods

[I]  Exports grow 3.9% in May; trade deficit widens to $15.3 billion

[I]  Economists seek Budget push to boost growth

[I]  UP, Maharashtra, Tamil Nadu had highest vehicle registration in May, says FADA

[I]  Take over all outstanding loans, farmers tell Govt

 

ECONOMIC TIMES

[I]  In pre-Budget meet, economists come up with a fix for NBFCs

[I]  RBI has a plan to enhance ATMs' security

[I]  WPI inflation eases to 22-month low of 2.45 per cent in May

[I]  CBDT issues new guidelines for compounding

[I]  India approves multilateral instrument to curb tax treaty abuse

[I]  Make in India to get a fresh impetus

 

BUSINESS STANDARD

[I]  How a 3-km-wide shipping lane is threatening the global oil market

[I]  Job losses mount in NBFC sector, a major recruiter, as lending plummets

[I]  Pharma sales growth hit 19-month low in May as product launches slowed down

[I]  Automobile sales drop 7.5% YoY in May 2019, two-wheeler worst hit: FADA

[I]  Weak monsoon delays kharif sowing, raises fear of widespread drought

[I]  Traders want a major role in policy matters, representation in committees

[I]  Trade deficit at 6-month high of $15.4 bn over increasing oil, gold imports

 

Best Regards, ARBIND

15 Jun 2019

THE REASON GOD IS PORTRAYED AS FATHER IS, HE CARESSES LIVES AND BEYOND. WISHING A CUDDLING DAY AHEAD.

Macro Economic News 14 Jun 2019

 

India's market regulator ordered enhanced disclosure norms for credit rating agencies in an effort to increase transparency as the country reels under a slew of rating downgrades and defaults that have roiled debt and equity markets. Most economic forecasters are pessimistic the Trump administration’s trade-tariff policy will reap long-term benefits for the economy, according to The Wall Street Journal’s latest monthly survey. More than three-quarters of economists surveyed expect the Fed’s next move will be to lower interest rates. External pressure serves China’s long-term interests, providing rare insight into how he frames the high-stakes tussle between the world’s two biggest economies.

 

FINANCIAL TIMES

[I]  US blames Iran for Gulf of Oman tanker attacks 

[I]  Hong Kong mood darkens as hard hats replace umbrellas

[I]  Italy’s warring coalition turns its fire on Brussels

[I]  ECB pushes euro in move against dollar’s dominance

[I]  German government warns on economic headwinds

[I]  Russia says US build-up in Poland ‘undermines stability’

 

REUTERS

[I]  India plans to launch own space station: ISRO

[I]  China extends anti-dumping duties on some steel tubes, pipes from U.S, EU

[I]  Oil prices ease, but Middle East tanker attacks support

[I]  U.S. blames Iran for tanker attacks in Gulf of Oman, Iran rejects assertion

[I]  China chip industry insiders voice caution on catch-up efforts

[I]  SEBI tightens credit rating norms after defaults, downgrades

[I]  Hong Kong protesters scuffle with police, government offices shut

[I]  Brexit supporter Johnson far ahead in contest to replace British PM

[I]  OPEC cuts oil demand outlook, building case to keep supply curbs

[I]  U.S. recession odds rise to 40-45% in six months - DoubleLine's Gundlach

[I]  Emerging markets entering dangerous phase: Societe Generale

 

BLOOMBERG 

[I]  Blue Apron Tumbles After Reporting 1-for-15 Reverse Stock Split

[I]  Transatlantic Inflation Worries Keep Central Banks in Spotlight

[I]  Hong Kong's Long-Term Economic Role Is at Stake Amid Demonstrations

[I]  Hong Kong Liquidity Tightens as Markets Fall, Protests Hit City

[I]  Surging Cash Piles Leave States as Ready as Ever for a Recession

[I]  U.S., Canada, Brazil Oil Output Nearly Doubles in Last Decade

 

WALL STREET JOURNAL

[I]  How Washington Learned to Love Debt and Deficits

[I]  Trump Tariffs Are Short-Term Pain Without Long-Term Gain, Economists Say

[I]  Most Economists Say Fed's Next Move Is Rate Cut, Survey Says

[I]  Trump Could Retaliate if Xi Balks at Trade Meeting, Kudlow Says

[I]  U.S. Jobless Claims Rose Last Week

[I]  Attacks Scramble a Crucial but Dangerous Shipping Route

[I]  China’s Trade Frontman Points, With Laser, to Bright Side of U.S. Tensions

 

BUSINESS LINE

[I]  Debt default bogey forces SEBI to tighten screws on rating firms

[I]  India to have its own space station in 7 years

[I]  Tax sops sought to boost investments in corporate bonds, term plans

[I]  India asks Canada to take a relook at work visa rules that affect mobility

[I]  Buoyed by RBI’s accommodative stance, FPIs turn net buyers in G-Secs

[I]  NBFC crisis: Looking beyond MFs

[I]  Hike in import duty expected to boost domestic processing of cashews

[I]  Banks to take a relook at large stressed accounts

 

ECONOMIC TIMES

[I]  Govt just gave employees a reason to cheer

[I]  India's EV dream has a battery problem

[I]  Not fast and furious, it's a slow turn for consumer companies

[I]  Sugar output in India seen sinking to 3-year low on dry weather

[I]  Low-pressure area in Bay of Bengal good for monsoon's progress

[I]  Budget 2019: Infrastructure sector seeks more capital and tax rebates

[I]  Government reduces ESI contribution rate to 4 per cent

 

BUSINESS STANDARD

[I]  Govt may roll over Rs 62,000 cr in fuel, fertiliser subsidies to FY21

[I]  Sebi hit the brakes on 'free of cost' transfers for FPIs in past year

[I]  Telecom panel tells Trai to review recommendations on 5G spectrum sale

[I]  Big listed real estate companies drive profits home in a dull market

[I]  Liquidity management tool: RBI may have to balance old norms with the new

[I]  Govt reduces rate of contribution towards ESI scheme, employers to benefit

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11896;  USDINR DGCX: 69.6100;  DJIA Mini: 26158;  FTSE 100 Fut: 7380;  NIKKEI 225 Fut: 21020;  EUR-USD: 1.1279; Crude Oil (WTI): 52.17;  Gold (Spot): 1350

 

Best Regards, ARBIND

14 Jun 2019

FATHER IS A FUNNY PLAYFUL FRIEND. HE ALSO ENABLES AND STANDS BY OUR CHOICES, ALWAYS. WISHING A FUN-FILLED DAY AHEAD.

Macro Economic News 13 Jun 2019

 

India will launch its second lunar mission in mid-July, as it moves to consolidate its status as a leader in space technology by achieving a controlled landing on the moon. Trump declined to set a deadline for levying tariffs on another $325 billion of Chinese goods and called the relationship with Beijing good but "testy" after China walked back commitments for a trade deal. Alongside full employment and stable prices, the FED has another, lesser known mandate: to be the adult in the economy. US Government tax revenue continued to rise in May thanks to a sturdy labor market, but not enough to offset higher federal outlays. The U.S.-Mexico-Canada trade agreement has “a better than two-thirds chance” of passing through Congress this year.

 

FINANCIAL TIMES

[I]  Hong Kong extradition bill protests erupt into violence

[I]  Global foreign investment contracts for third year

[I]  Germany’s ‘carland’ braces for electric shock

[I]  Vietnam tells companies not to advertise on YouTube videos

[I]  US diplomat cites Iran threat over Saudi arms sales

[I]  Japan’s Abe makes diplomatic push in Iran

[I]  HK risks becoming pawn in trade war with extradition bill

 

REUTERS

[I]  India to launch second lunar mission; land rover on moon

[I]  Dollar pulls away from 11-week lows as euro, commodity currencies sag

[I]  China economists expect interest rate, RRR moves in coming weeks: China Daily

[I]  Don't target U.S. financial firms if trade war widens, lobby group tells China

[I]  India evacuates hundreds of thousands as Cyclone Vayu builds fury

[I]  Trump leaves China tariff deadline open, calls relationship 'testy'

[I]  India May inflation hits seven-month high; still room for rate cut

[I]  U.S. House panel backs contempt citations for two Trump Cabinet members over census

[I]  Cheaper sensors could speed more self-driving cars to market by 2022

[I]  Trade war risks forcing Fed rate cut this year, say economists - Reuters poll

[I]  India's April industrial output grows 3.4%

[I]  Instant View: India's May retail inflation picks up to 3.05%

 

BLOOMBERG 

[I]  It's Starting to Get Pricey In Australia's Stock Market

[I]  The People’s Bank of China Finally Offers a Peek Behind the Curtain

[I]  Trump Deadline Drama, Peak Into PBOC, Socialism in U.S.: Eco Day

[I]  Thousands of U.K. Help to Buy Loans Go to Highest Earners

[I]  U.K. Housing Market Slump Gets Temporary Respite on Brexit Delay

[I]  Auto Demand Facing a ‘Sustained Downturn' in World’s Two Biggest Markets

[I]  The U.S. Budget Deficit Hit $207.8 Billion in May

[I]  U.S. Budget Gap Balloons to $739 Billion Despite Tariff Revenue

[I]  Hyperinflation Forces Venezuela to Roll Out Three New Large Bills

 

WALL STREET JOURNAL

[I]  The Fed Needs to Be the Adult in the Economy

[I]  U.S. Consumer Prices Edged Higher in May

[I]  Fix Mortgage Finance, or We’ll Do It For You, Regulator Tells Congress

[I]  U.S. Budget Deficit Grew 39% in First Eight Months of Fiscal Year

[I]  Mulvaney Sees Approval of USMCA Trade Deal Likely

[I]  U.S. Producer Prices Up Slightly in May, Showing Little Inflation Pressure

[I]  Real Time Economics: U.S.-China Tensions Spread Across the Economy

[I]  U.S. Job Openings Outnumber Unemployed by Widest Gap Ever

 

BUSINESS LINE

[I]  Gujarat on high alert as ‘very severe’ cyclone Vayu heads for landfall

[I]  Aadhaar, Medical Council Bills get Cabinet approval

[I]  Retail inflation at seven-month high in May; industrial growth at 3.4% in April

[I]  Indo-German project launched to develop high-strength spring steel

[I]  FDI flow into India rose 6% to $42 billion in 2018: UNCTAD

[I]  RBI unlikely to revisit retirement age for MDs and CEOs of private lenders

 

ECONOMIC TIMES

[I]  India Inc needs a mega bailout. Here's how it can be done

[I]  Banks lost Rs 2.05 lakh cr to frauds in 11 yrs

[I]  Inside Modi's plan to curtail corporate fraud

[I]  Dollar near 11-week low on Fed easing bets

[I]  PE/VC deals plunge 54% in May to $2.8 bn

[I]  Company directors will have to sit for exams in India after scandals

 

BUSINESS STANDARD

[I]  Consensus eludes RBI-appointed Jalan panel on economic capital framework

[I]  PE-backed housing platforms bet big on mid-income housing projects

[I]  Govt expecting allocation of Rs 10,000 cr for MGNREGS with drought looming

[I]  India, Russia, China uniting on rising protectionism, WTO reforms at SCO

[I]  Industrial production up 3.4% at six-month high, growth may remain muted

[I]  India's second moon mission Chandrayaan-2 to take off on July 15: Isro

 

MARKETS (07:00 am)

[I]  SGX NIFTY Fut: 11912;  USDINR DGCX: 69.5550;  DJIA Mini: 26061;  FTSE 100 Fut: 7367;  NIKKEI 225 Fut: 21060;  EUR-USD: 1.1291; Crude Oil (WTI): 51.35;  Gold (Spot): 1337

 

Best Regards, ARBIND

13 Jun 2019