MACRO ECONOMIC NEWS

WISHING A DAY OF PROFOUND INSIGHT AND WORTH. GOOD MORNING.

Macro Economic News 29 Aug 2018

 

A measure of economic confidence among American households rose in August to its highest level since October 2000. A preliminary report showed the deficit widened last month to $72.2 billion from $67.9 billion in June. The gap had narrowed slightly from February to May but now appears to have widened two months in a row. Home price gains slowed in June, indicating that rising mortgage rates and growing affordability challenges are finally beginning to slow price gains.

 

FINANCIAL TIMES

[I]  Shareholder rebellions over high pay double in a year

[I]  Nafta breakthrough gives Mexico reason for optimism

[I]  UN says Saudi coalition ‘may have committed war crimes’ in Yemen

[I]  Theresa May sets out goal for UK to be Africa’s biggest investor

[I]  South Korea looks to stimulate economy with budget increase

[I]  China begins to lift ban on group tours to South Korea

 

REUTERS

[I]  India says manned space mission to cost $1.4 billion

[I]  Bomb at Philippines street festival kills two, wounds 37

[I]  China's state planner head says economy faces increased risks in second half

[I]  India's soybean output may rise 20 percent in 2018/2019 - industry official

[I]  BOJ's Suzuki: need to watch policy impact on bond market

[I]  Canadian NAFTA negotiator says 'encouraged' by U.S.-Mexico progress

[I]  Canada rejoins NAFTA talks as U.S. autos tariff details emerge

[I]  U.S. banking regulator kicks off low-income lending rules rewrite

[I]  U.S. consumer confidence races to near 18-year high

[I]  Euro zone lending growth holds steady at post-crisis high

 

BLOOMBERG 

[I]  U.K. and EU Drop October Deadline for Brexit Deal

[I]  Europe's Bid to Take Back Control From Trump May Have to Wait

[I]  U.S. to Stress Friday Nafta Deadline as Canada Joins Talks

[I]  California Moves Toward Requiring 100% Clean Power by 2045

[I]  Sluggish U.S. Wages, Fed Deputy, China's Silicon Valley: Eco Day

[I]  A $35 Billion Selloff Is Pulling Down Japan's Stock Market

[I]  The Treasury Yield Curve Is Finally Going Mainstream

 

WALL STREET JOURNAL

[I]  U.S. Consumer Confidence Surged in August to Near 18-Year High

[I]  U.S. Trade Deficit in Goods Widened to $72.2 Billion in July

[I]  U.S., Canada Talk Trade Under Pressure

[I]  U.S. Home-Price Gains Slow

[I]  SF Fed: Yield Curve Suggests Rising, But Still Low, Risk Of Recession

 

BUSINESS LINE

[I]  Foodgrain output to hit all-time high of 285 mt

[I]  0.1% STT applies to physical settlement in equity derivatives, clarifies CBDT

[I]  FPIs, MFs invest 75% of their funds in top 40 stocks

[I]  With more rains forecast, monsoon withdrawal may be delayed

[I]  No plan to prosecute traders for buying farm produce below MSP, says Maharashtra

[I]  PSBs likely to see tough days ahead: ICRA

 

ECONOMIC TIMES

[I]  A Saudi-Iran oil price war could break up Opec

[I]  Family businesses: Are they ready for the new normal?

[I]  Production estimate for major crops raised to record 285 million tonnes

[I]  DIPP rules out 49% FDI plan in inventory model

[I]  Government to vet GST, income tax and transfer pricing filings to find leakage

[I]  Still many challenges in ensuring DBT benefits reach women: NITI Aayog advisor

[I]  Finance ministry has cleared 'sizeable amount' as provision for FAME II: Anant Geete

[I]  Govt rectifies anomaly, allows law enforcement agencies to hold banned notes

 

BUSINESS STANDARD

[I]  30 stressed power accounts set to go to NCLT as RBI's NPA deadline ends

[I]  FMCG grows at 10.9% in June quarter, lower than 14% in 2017: Nielsen

[I]  Govt hopes RBI will tread middle path on stressed power assets issue

[I]  States' spending on salaries, pensions and interest payments going down

[I]  Securitisation volume doubles to Rs 315 billion in the first quarter

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 11743;  USDINR DGCX: 70.2400;  DJIA Mini: 26146;  FTSE 100 Fut: 7633;  NIKKEI 225 Fut: 22968;  EUR-USD: 1.1694; Crude Oil (WTI): 68.58;  Gold (Spot): 1204

Best Regards, ARBIND

29 Aug 2018