MACRO ECONOMIC NEWS

WISHING A FULFILLING DAY OF FUN AND DELIGHT

Macro Economic News 21 Feb 2018

 

Australian policy makers (and FX/rates traders) will be holding their collective breath to see if 4Q wage data due Wednesday morning in Sydney will finally show that strong jobs growth is starting to boost incomes that could lift inflation and the economy. The Asian day also features Japan's preliminary manufacturing PMI. The European session will bring Bank of England head Mark Carney testifying on inflation, Norwegian unemployment, South Africa's national budget and CPI data, along with flash PMIs for the eurozone. And then we get Markit's U.S. flash PMIs and existing U.S. home sales before the day rounds out with FOMC minutes from Janet Yellen's last meeting. (Bloomberg)

 

FINANCIAL TIMES

[I]  German armed forces in ‘dramatically bad’ shape, report finds

[I]  Germany woos banks with plan to make it easier to fire executives

[I]  Brazil pension climbdown rebuked by rating agencies

[I]  AI experts warn of new types of threats

[I]  China’s tech darlings have a fundamental value problem

[I]  Millennial insecurity is reshaping the UK economy

 

REUTERS

[I]  Jaitley slams oversight lapses after PNB fraud

[I]  RBI says had issued warnings on possible misuse of SWIFT system

[I]  Canada's PM says India trip about broader ties not just political ones

[I]  Artificial intelligence poses risks of misuse by hackers, researchers say

[I]  Computer shops embrace lucrative business: outfitting cryptocurrency miners

[I]  South Korea signs free trade deals with 5 Central America countries

[I]  Guggenheim's Minerd warns of a possible replay of 1987 stock market crash

[I]  Euro zone consumer confidence falls in February from 17-year high

[I]  With stimulus exit looming, communication challenges await new BOJ trio

 

BLOOMBERG 

[I]  A Strong Earnings Season May Not Be Good Enough for India Stocks

[I]  Productivity Primed to Pick Up in U.S. and Europe, McKinsey Says

[I]  Battle of the Red Buses: Anti-Brexit Campaigners Hit the Road

[I]  The U.K. Had a Record Year for Wind Generation

[I]  No Buyers for Indian Bonds Means More Pain for Modi's Debt Plan

[I]  The Car of the Future Will Sell Your Data

[I]  Why the Global Banking Spotlight Is Shining on Latvia

[I]  Boom Turns to Bust for Millennials Across Advanced Economies

[I]  It's Australia's Turn in the Muck of Political Tribalism

[I]  Inflation's Come and That's Good for Commodities, JPMorgan Says

[I]  Chinese Entrepreneur Starts $100 Million Hedge Fund With His Own Money

[I]  China Decides the Australian Dollar's Fate, Not U.S. Treasuries

 

BUSINESS LINE

[I]  Nasscom sees muted growth

[I]  To prevent frauds, RBI panel to reconcile NPAs

[I]  Law coming soon to ban unregulated deposit schemes

[I]  Green signal for Rs. 60,000-cr National Urban Housing Fund

[I]  Govt to revise roof-top solar power policy

[I]  Tribunal to settle Mahanadi river dispute

[I]  Promoters’ pledged shareholdings drop to 7.8% in Q3: Kotak study

[I]  India Inc improves on governance standards: IFC

[I]  Rice exports surge on strong demand, dip in Thai stocks

[I]  Govt focus on cutting farm input costs, raising prices: PM

 

ECONOMIC TIMES

[I]  Not privatisation, there is another way to make banks fraud-proof

[I]  The good side of LTCG tax on equity that most Indians probably have no idea about

[I]  RBI panel to review bad-loan estimates and systemic gaps

[I]  Government may restrict defaulting companies promoters’ travel

[I]  37 companies get land to set up units under Delhi Mumbai Industrial Corridor project

[I]  50% crop area to get insurance cover: Narendra Modi

[I]  Government mints told to ramp up coin production

[I]  Handicraft exports likely to dip in 2017-18: EPCH

[I]  87,000 jobs lost in manufacturing sector: Employment survey

[I]  Cabinet approves rail cooperation agreement with Morocco

[I]  Government proposes stringent law to check ponzi, unregulated deposits

[I]  Lesser funds spent on six urban schemes

 

BUSINESS STANDARD

[I]  India's IT exports could grow 7- 9% in 2018-19, says Nasscom

[I]  Facing insolvency, PSU Burn Standard eyes monetising land to stay afloat

[I]  Hospitals making profits up to 1,700% on drugs, consumables

[I]  Replacing welfare schemes with universal basic income to hit poor the most

[I]  Traditional means will not double farmer income: PM Narendra Modi

[I]  Cabinet ends Coal India monopoly, allows commercial mining by private firms

[I]  Maharashtra govt likely to unveil plan to revive struggling small units

[I]  Crackdown on Ponzi schemes: Cabinet clears Bill to ban unregulated deposits

[I]  RBI may tighten approvals for offshore borrowing to avoid any defaults

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 10402;  USDINR DGCX: 64.9950;  DJIA Mini: 25000;  FTSE 100 Fut: 7207;  NIKKEI 225 Fut: 22065;  EUR-USD: 1.2335; Crude Oil (WTI): 61.33;  Gold (Spot): 1326

Best Regards, ARBIND

21 Feb 2018