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Macro Economic News 05 Feb 2018

 

Wealth creation, wealth investment and wealth consumption - The discrepancy of global preferences of geographies for these activities are seen expanding. With the wealth erosion across asset classes, investments are migrating to domestic countries while wealth consumers are migrating for countries with stable regulatory regime. An interesting inclination for monetary policy convergence across continents is visible. Divergence amongst politicians, policy makers and economists is getting wider.

 

FINANCIAL TIMES

[I]  China cracks down on tech credit scoring

[I]  Greek protesters take to streets in battle over Macedonia’s name

[I]  Democrats warn of potential constitutional crisis over memo

[I]  Bitcoin investors find tax demands are not virtual

[I]  EU and UK seek speedy Brexit deal on defence and security

[I]  China industrial policy at work in lingerie themed town

[I]  Co-operation is in Turkey and America’s best interests

[I]  German politics is tilting towards federalism

 

REUTERS

[I]  Budget spurs inflation worries ahead of RBI policy

[I]  Dollar steadies as U.S. payrolls fuel inflation expectations, send bond yields up

[I]  UK rents rise at slowest pace since 2013 as Brexit vote weighs

[I]  Exclusive: Sudan central bank weakens bank trading exchange rate to 31.5 pounds to dollar

[I]  Iran raps new U.S. nuclear plan as threat to Russia

[I]  UK will not 'surrender' over bespoke Brexit deal with EU: minister

[I]  China seeks to rejuvenate countryside with 2018 rural policy

[I]  India gold demand picks up after tax announcement

[I]  India prioritises rural spending, healthcare in budget as election looms

 

BLOOMBERG 

[I]  Beijing Inches Closer to Becoming the World's Busiest Airport

[I]  How Is Big Business Using the Trump Tax Cut? What We Know So Far

[I]  British Mothers Are Losing Out on Pay Rises

[I]  Powell Takes Over as Fed Chairman With Economy Primed to Heat Up

[I]  May Under Fire as Brexit Reality Sparks Conservative Civil War

[I]  India Plans to Expand Airport Capacity Fivefold as Traffic Rises

[I]  Global Equity Slump Deepens as Rate Fears Grow: Markets Wrap

[I]  China Is a Rare Place Where Value Investing Isn't a Bad Strategy

[I]  Foreigners Flee as Philippine Stock Valuations Overheat

[I]  Indonesia Palm Exports to India Seen at Record on Strong Demand

[I]  The Worst May Be Over for Singapore's Top Banks

[I]  Aussie Central Bank Stranded as Reflation Skips Ex-Star Economy

 

BUSINESS LINE

[I]  RBI unlikely to raise rates despite inflation worries

[I]  Richest companies have the lowest tax liability

[I]  Govt sets ‘realistic’ revenue growth targets: Adhia

[I]  Revenue deficit no longer a target of the govt

[I]  Fiscal deficit slippage due to non-inclusion of GST

[I]  Centre opens fuel cess fund tap to entire infra sector

[I]  Budget move to go lower down the ratings scale will deepen bond market

 

ECONOMIC TIMES

[I]  Here's the ugly part of Budget that you probably had no idea about

[I]  Govt's e-marketplace looks to clock deals worth Rs 2 lakh crore in the next 5 years

[I]  MSP to bring bounty for coarse grain croppers

[I]  LTCG tax kitty from stocks to double to Rs 40K crore in FY20: Finance Secretary Hasmukh Adhia

[I]  Solid economic growth means more rate hikes ahead: Janet Yellen

[I]  Amid stock market selloff, US corporate earnings forecasts rise

[I]  FPIs infuse over Rs 22,000 crore in January on better earnings expectations

[I]  RBI policy, Budget after-effects and Q3 numbers to steer market this week

[I]  Global consumer companies see bright spot in India

[I]  Govt working on raising share of exports in GDP to 20%: Suresh Prabhu

[I]  Wealth migration; 7,000 super-rich Indians shifted base in '17

[I]  A ballooning revenue deficit is far more worrisome than a nominal slippage in fiscal deficit

[I]  Farm loan waiver, debt hinder Maharashtra government from giving relief to industries

[I]  Government mulling Rs 500cr market assurance scheme to help farmers

 

BUSINESS STANDARD

[I]  Monetary policy: RBI to pause for sure on Feb 7, but for how much longer?

[I]  Multiple factors to keep markets on tenterhooks after Friday's fall

[I]  74% Indian marketers plan to increase their budget this year, says report

[I]  Future Consumer is focusing more on home, personal care with 'smart' brands

[I]  Indian Railways charge less than half of cost from passengers

[I]  LTCG tax kitty from stocks to double to Rs 400 bn in FY20: Hasmukh Adhia

[I]  Cash-strapped government has cut back on budgetary support to PSUs

[I]  Credit offtake continues to clock double-digit growth, shows RBI research

[I]  Indirect Tax: Budget on customs could have been more positive

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 10600;  USDINR DGCX: 64.3950;  DJIA Mini: 25244;  FTSE 100 Fut: 7292;  NIKKEI 225 Fut: 22720;  EUR-USD: 1.2459; Crude Oil (WTI): 64.86;  Gold (Spot): 1331

 

Best Regards, ARBIND

05 Feb 2018