MACRO ECONOMIC NEWS

WISHING A REWARDING DAY OF FAITH AND CONSCIENCE

Macro Economic News 22 Feb 2018

 

The Fed has upgraded their economic outlooks since the beginning of the year and listed three main reasons: The strength of recent economic data, accommodative financial conditions and the expected impact of the $1.5 trillion tax cut that took effect in January. The Fed is seeking to raise rates gradually to maintain control of inflation without impeding an economic expansion that is nearing the end of its ninth year, one of the longest stretches of continuous economic growth in American history

As India’s sovereign bonds suffer their worst selloff in almost two decades, the Reserve Bank of India is expected to review the cap on foreign investment in rupee notes, currently set at around 5 percent. 10-year yields have risen to a two-year high, the budget deficit widens and India’s state-run banks have been dumping the debt. For all of the reasons to roll out the welcome mat, regulators may still see the risk of hot-money flows destabilizing the rupee as a more potent argument not to.

 

FINANCIAL TIMES

[I]  US proposes overhaul of ‘too big to fail’ regime

[I]  Germany wants EU to reward states for taking migrants

[I]  Wall Street welcomes Trump’s shift on regulation

[I]  Russia’s middle class opens door to private healthcare providers

[I]  Africa’s power shuffle is a renewal, not a revolution

[I]  Older workers are looking for something more

 

REUTERS

[I]  Trump Jr. says missing out on India deals because of father's self-imposed curbs

[I]  RBI panel warns on inflation as it monitors growth

[I]  Japan PM's adviser says BOJ should consider buying foreign bonds

[I]  Global Markets: Asia stocks slip as U.S. rate risk lifts bond yields

[I]  Fed policymakers show rising confidence on inflation, economic outlook - minutes

[I]  UK jobless rate rises unexpectedly, wage growth steady

[I]  Euro zone businesses lose some steam but are still fired up

 

BLOOMBERG 

[I]  Los Angeles Cracks Down on Out-of-Control Hollywood Party Houses

[I]  Bond Market Guide to Trading When 10-Year Treasury Yields Hit 3%

[I]  Inside the Bitter Dispute Over the Name ‘Macedonia’

[I]  EU Will Seek to Be Imaginative, Open in Brexit Talks, Irish Say

[I]  U.K. Starts Cryptocurrency Inquiry as Lawmakers Weigh Regulation

[I]  Singapore's Central Bank Gets a Trigger for Tightening

[I]  Brighter U.S. Growth Outlook Emboldens Fed on Rate-Hike Course

[I]  Crime in Japan Falls to Lowest Level in More Than 70 Years

[I]  Will India Let Foreigners Buy More Bonds?

[I]  Russia's Central Bank Gold Hoard Is Now Bigger Than China's

[I]  Budget Slippage Worrying India's Central Bank, Minutes Show

 

BUSINESS LINE

[I]  UK’s Labour Party calls for fairer immigration system

[I]  EPFO lowers interest rate to 8.55% for FY18

[I]  Privatising PSBs will not solve the problem

[I]  ‘1 lakh IT jobs’ is incorrect estimate for FY19: Nasscom

[I]  ‘Farmers will get timely payments after duty hike, restricted sugar sales’

[I]  Curbing data fudging, key to success of crop cover plan: Experts

[I]  Centre targets indigenously built SARAS under UDAAN scheme

 

ECONOMIC TIMES

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

[I]  Economic growth impulses are strong: RBI Guv Urjit Patel

[I]  Horticulture industry demands reduction in GST to 12% from 18%

[I]  Government to fast-track 'Fasal Bima Yojana' with new professional team

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

[I]  FDI rises only 0.27 per cent during April-December FY18

[I]  Cut diamond imports surge fourfold but no one knows the reason

[I]  Q3 GDP growth seen at 6.5-7 pc: SBI study

[I]  Indians will get loans based on data, not collateral: Nandan Nilekani

[I]  Niti Aayog making new list of sick PSUs for divestment: Amitabh Kant

 

BUSINESS STANDARD

[I]  Insurers ask govt to rework math for National Health Protection Scheme

[I]  Warning letters to Indian pharma companies from US FDA declining: Study

[I]  BS Analysis: States may not stick to fiscal consolidation road map

[I]  Budget proposal to cut women's PF contribution to 8% faces opposition

[I]  Tipping Point: What does a rating watch review mean?

[I]  EMI change can be the default option when rates rise or fall

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 10336;  USDINR DGCX: 64.8475;  DJIA Mini: 24616;  FTSE 100 Fut: 7183;  NIKKEI 225 Fut: 21712;  EUR-USD: 1.2282; Crude Oil (WTI): 60.98;  Gold (Spot): 1324

Best Regards, ARBIND

22 Feb 2018