MACRO ECONOMIC NEWS

WISHING THIS DAY WITH SPIRIT OF TRUTH BRINGS MEMORABLE MOMENTS. GOOD MORNING.

Macro Economic News 31 Aug 2018

 

A key measure of underlying inflation accelerated last month to the fastest annual clip since 2012, as robust spending by consumers and businesses pushed up prices across the economy. Americans spent all of their income gains and then some in July, suggesting the economy sustained momentum going into the second half of the year. 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.

 

FINANCIAL TIMES

[I]  Argentine peso tumbles to new low despite interest rate rise

[I]  Emerging market bond yields head back towards pre-crisis levels

[I]  Australian farmers rethink climate change as drought hits home

[I]  France restructures postal group to protect service

[I]  Argentina is stricken by a crisis of confidence

[I]  EU offers to lift all car tariffs if US reciprocates

[I]  Germany cools on Macron eurozone budget proposal

[I]  Populism is the true legacy of the global financial crisis

 

REUTERS

[I]  India's economy likely grew 7.6 percent

[I]  China's environment ministry warns against monitoring fraud

[I]  China August official factory PMI rises to 51.3, beats expectations

[I]  Decline in Japan factory output raises growth worries

[I]  Canada, U.S. push toward NAFTA deal by Friday

[I]  U.S.-Mexico trade talks may pivot from metals tariffs to quotas

[I]  Chinese regulator to control number of new online video games

[I]  U.S. consumer spending, inflation data point to strong economy

[I]  Factbox: Winners and losers from the new NAFTA deal

[I]  UK consumers defy Brexit blues, but companies fret: surveys

 

BLOOMBERG 

[I]  China Factory Gauge Unexpectedly Rises in August Amid Trade War

[I]  Trump Says Iranian Regime May Collapse Because of His Policies

[I]  Argentina Lifts Rates to World-High, Seeks IMF Aid to Save Peso

[I]  Emerging Markets Tumble as Argentina Struggles to Stop Bleeding

[I]  China Banks Managing $16 Trillion Can't Stop Talking About Risk

[I]  Russian Oil Giants Offer Bright Spot in Economy Hit by Sanctions

[I]  U.K. Business Confidence Slumps as Brexit Tarnishes Outlook

[I]  Record London Rents Lure Overseas Landlords to Housing Market

 

WALL STREET JOURNAL

[I]  Core Inflation Hits Fed’s 2% Target as Spending Heats Up

[I]  U.S. Consumer Spending Rose 0.4% in July

[I]  U.S.-Canada Trade Talks Take On ‘Intense Rhythm’

[I]  Trump’s Nafta Rewrite Holds Promise for Labor Unions

[I]  U.S.-Mexico Trade Pact Faces Scrutiny From Lawmakers at Home

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

[I]  EU Trade Official Proposes Ending All Car Tariffs With U.S.

[I]  Argentina’s Central Bank Lifts Policy Rate to 60%

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

 

BUSINESS LINE

[I]  Trustees of MF cos have fiduciary duty to investors: Calcutta HC

[I]  ‘India will beat UK to become 5th largest economy next year’

[I]  Steel-makers seen adding 20 mt in 4 years via brownfield route

[I]  Govt signs wage pact with major port workers; grants 10.6% hike

[I]  Postmen to get incentives for doorstep banking services

[I]  India on course to meeting new mobility challenges

 

ECONOMIC TIMES

[I]  India Inc seeks more rural salesmen

[I]  Onion, potato & tomato output drops slightly in 2017-18

[I]  As rupee rains woes, importers run for cover

[I]  Malaysia takes India to WTO's safeguard committee on solar duty

[I]  Indenting firms challenge IGST levy on export services

[I]  40km elevated road among options to link Jewar with IGI

[I]  Public cooperative model need of the hour: RBI director Satish Marathe

[I]  Tough time ahead for India at meet on mega free-trade agreement

 

BUSINESS STANDARD

[I]  E-commerce players become shopping assistants for Indians beyond cities

[I]  Enterprise security costs to touch $1.7 bn as firms face skill shortage

[I]  Decades of policy, regulation mismatch to haunt insolvency in power sector

[I]  Better bond yields in last one year boost short-term paper volume: ICRA

[I]  Microfinance sector registers a growth of around 39% in loan portfolio

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 11713;  USDINR DGCX: 71.2550;  DJIA Mini: 25991;  FTSE 100 Fut: 7467;  NIKKEI 225 Fut: 22803;  EUR-USD: 1.1668; Crude Oil (WTI): 70.24;  Gold (Spot): 1202

Best Regards, ARBIND

31 Aug 2018