MACRO ECONOMIC NEWS

WISHING THIS DAY WE WITNESS BLESSINGS EVERYWHERE. GOOD MORNING.

Macro Economic News 30 Aug 2018

 

The Commerce Department measured a 16.1% year-over-year gain, the largest in six years. Profits were bolstered by large tax cuts and strong economic growth. Economic growth was stronger during the second quarter than earlier estimated, although growth in a key measure of U.S. corporate profits moderated from the first quarter. A measure of economic confidence among American households rose in August to its highest level since October 2000.

 

FINANCIAL TIMES

[I]  Federal Reserve debates banks’ capital buffers as markets surge

[I]  Japan’s culture of discrimination saps ‘womenomics’

[I]  Record-setting US stocks ignore yield curve’s red flag

[I]  UK and EU set to miss target of Brexit deal by October

[I]  Israel reaps rewards of unlikely alliance with Vladimir Putin

[I]  IMF to revise Argentina bailout after peso plunge

[I]  Germany hands over skulls of colonial victims to Namibia

[I]  China ramps up charm offensive with Japan

[I]  Germany looks to foreign workers to tackle labour shortage

 

REUTERS

[I]  Indians turned in almost all the currency notes banned in 2016: RBI

[I]  India not guaranteed U.S. sanctions waiver for Russian missiles: official

[I]  India's economy seen growing at steady 7.6 percent pace in April-June: Reuters poll

[I]  Australia flags denying U.S. whistleblower Chelsea Manning entry visa

[I]  Stronger Japan retail sales point to consumer sector momentum

[I]  India expects clarity on Iran oil cut after U.S. meeting - source

[I]  IMF studying Argentina request for early help as peso crashes

[I]  British car output drops annual 11 percent in July

[I]  China faces increased economic risks in second half: state planner

 

BLOOMBERG 

[I]  Hong Kong Unveils List of Professionals It Wants to Lure

[I]  Britons' Essential Spending Eats Up 80 Percent of Incomes

[I]  Emerging-Market Carry Traders Have Their Worst August on Record

[I]  Trump Yuan Trade, Faster U.S. Growth, Argentina Wobbles: Eco Day

[I]  Private Banks Are Starting to Breach the Wall Around China's Wealthy

[I]  Melt-Up on the Mind as U.S. Stock Advance Hits Euphoria

[I]  Emerging-Market Wobbles to Test Whether Asia Really Is Safer

[I]  IMF to Review Timing of Payout for Argentina's Credit Line

 

WALL STREET JOURNAL

[I]  U.S. Corporate Profits Soared in Second Quarter

[I]  Canada Voices Optimism on Nafta Deal

[I]  What the U.S.-Mexico Trade Pact Says

[I]  International Trade Commission Blocks Proposed Newsprint Tariffs

[I]  U.S. GDP Growth Revised Up in Second Quarter

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

[I]  Mexico Cites ‘Insurance’ Against U.S. National-Security Tariffs

[I]  U.S. Workers Report Highest Job Satisfaction Since 2005

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

 

BUSINESS LINE

[I]  Trump allows targeted relief on steel, aluminum quotas: US Commerce

[I]  Apply varnish: RBI’s formula to increase life of banknotes

[I]  MUDRA launches major impact study of loans to SMEs

[I]  Govt e-Marketplace plans expansion

[I]  About 95% homes in South India own TV sets: BARC India

[I]  After bad loans, RBI flags rise in bank frauds too

 

ECONOMIC TIMES

[I]  The way you pay loans could change soon

[I]  Supply risks building, crude oil has potential to hit $80 a barrel

[I]  Rupee Sinks to All-time Low Against $

[I]  Cash still the king. Cash savings highest in a decade

[I]  Brace up for more fake note discovery despite new bills: Study

[I]  Government e-Marketplace aims Rs 40,000cr GMV in FY19

[I]  India remains preferred destination for FDI: RBI

[I]  GDP likely to clock 7.4% growth on pick up in industrial activity, monsoon: RBI

[I]  India may breach 3.3% fiscal deficit target as oil prices rise: Moody's

[I]  RBI squeezing circulation of Rs 2000 currency notes

 

BUSINESS STANDARD

[I]  South-based firms take significant pie of private equity investment

[I]  RBI's transfer of surplus to Centre rises by 63.08% to Rs 500 bn in FY18

[I]  RBI's agenda: To add more gold in foreign currency reserves in 2018-19

[I]  Number of banking outlets in villages drops amid financial inclusion push

[I]  Value of banknotes in circulation increases by 37.7% to Rs 18 bn in FY18

[I]  RBI balance sheet expands by 9.5% in FY18 on rise in foreign investments

 

MARKETS (09:30 am)

[I]  SGX NIFTY Fut: 11677;  USDINR DGCX: 70.9775;  DJIA Mini: 26112;  FTSE 100 Fut: 7545;  NIKKEI 225 Fut: 22865;  EUR-USD: 1.1698; Crude Oil (WTI): 69.69;  Gold (Spot): 1204

Best Regards, ARBIND

30 Aug 2018