Gold Silver Reports (GSR) – Trump Trade War Spurs India to Import More Oil, Drones From U.S. — Asia’s third-largest economy could bridge the surplus by up to $4 billion through oil imports alone, government officials said, asking not to be identified as they are not authorized to speak to the media.
Global Economic
Foreign Investors have Pulled out Nearly Rs 8,000 Crore from the Indian Capital Markets
Gold Silver Reports (GSR) – Foreign investors have pulled out nearly Rs 8,000 crore from the Indian capital markets — This comes following an inflow of Rs 11,654 crore in equities last month and an outflow of over Rs 9,000 crore from the debt markets.
Bonds in India Set for Rout on Unexpectedly Hawkish RBI Minutes
Gold Silver Reports (GSR) – The 10-year bond yield may climb by as much as 10 basis points, according to Vijay Sharma, New Delhi-based executive vice president for fixed-income at PNB Gilts Ltd. One-year interest-rate swap rose three basis points Thursday to 6.51 percent, the highest since March 9.
Did Demonetisation Change India’s Cash Habits?
Gold Silver Reports (GSR) – Did Demonetisation Change India’s Cash Habits? — Currency in circulation stood at Rs 18.4 lakh crore as on April 6, 2018. In absolute terms, this is above the Rs 17.98 lakh crore in currency that existed before demonetisation.
U.S. Stocks Decline on Tech Woes, Treasuries Slide
Gold Silver Reports (GSR) – U.S. Stocks Decline on Tech Woes, Treasuries Slide – The S&P 500 Index dropped the most in nearly two weeks as tech shares slumped after Taiwan Semiconductor’s disappointing forecast roiled chip-maker stocks. China’s request for concessions from Qualcomm Inc. to acquire NXP Semiconductors NV ratcheted up tensions over trade. Earnings misses from Procter & Gamble Co. and Philip Morris International Inc. weighed on consumer staples.
Rusal Discusses Deals in China to Ease Sanctions Crunch
Gold Silver Reports (GSR) – Rusal Discusses Deals in China to Ease Sanctions Crunch — Rusal is looking for alternative sources of alumina, the raw material for aluminum, as sanctions block its normal supplies, according to the people, who asked not to be identified because the matter is private. At the same time, the Russian company is asking traders whether it can boost sales of the refined metal in ingot form in China, as its usual customers are cut off.
Fed Says Tariff Concerns Cloud Otherwise Solid U.S. Outlook
Gold Silver Reports (GSR) – Fed Says Tariff Concerns Cloud Otherwise Solid U.S. Outlook — New tariffs and concerns “Outlooks remained positive, but contacts in various sectors including manufacturing, agriculture and transportation expressed concern about the newly imposed and/or proposed tariffs,” the Fed said in its Beige Book report released Wednesday in Washington. That concern was later echoed by New York Fed President William Dudley, who told an audience in the Bronx that a tariff war would be a “terrible outcome” which the U.S. couldn’t win.
Prime Minister Narendra Modi Addresses Indians In London
Gold Silver Reports (GSR) – Prime Minister Narendra Modi Addresses Indians In London — Indians Are Becoming Aspirational’ — Prime Minister Narendra Modi said that people have more expectations of his government because they trust that it can deliver. “People know that when they say something, the government will listen and do it,” he said.
RBI Clarifies On Concerns Around Cash Shortage
RBI Clarifies On Concerns Around Cash Shortage ✅ Sufficient cash in the RBI vaults and currency chests. ✅ Printing of the notes has been ramped up in all the 4 note presses. ✅ Shortage felt in some pockets largely due to logistical issues ✅ RBI closely monitoring replenishing and recalibration of ATMs ✅ RBI moving …
CIA Chief Pompeo Said to Have Met Kim Ahead of Trump Summit
Gold Silver Reports (GSR) – who’s awaiting confirmation as secretary of state — made the secret visit during the weekend of March 31 and April 1, said the people, who asked not to be identified. The trip, which was first reported by the Washington Post, comes ahead of the unprecedented meeting between the U.S. and North Korean leaders, which Trump said Tuesday could come by “early June or before.”