MACRO ECONOMIC NEWS

LOVE AND FORGIVENESS IS BEGINNING OF SOMETHING BEAUTIFUL IN LIFE. WISHING A BEAUTIFUL DAY AHEAD.

Macro Economic News 13 Sep 2018

 

American incomes rose and poverty declined for the third consecutive year in 2017, according to census figures released Wednesday that suggest more Americans are benefiting from the robust economy. A gauge of U.S. business prices in August clocked the first monthly decline in about a year and a half, driven largely by a downturn in trade services prices. Fed governor Lael Brainard said recent tax cuts and government-spending increases have likely created a need for higher interest rates, saying the central bank should continue gradually raising rates for the next year or two.

 

FINANCIAL TIMES

[I]  Oil prices near four-year high as hurricane bears down on US

[I]  Japan’s corporate performance highlights bull case

[I]  Is the ECB still ready to say goodbye to QE?

[I]  EU parliament backs overhaul of digital copyright rules

[I]  US household income grows for third consecutive year

[I]  China steps up social security collection as it cuts corporate taxes

 

REUTERS

[I]  CPI inflation falls below RBI target despite rupee slide

[I]  Bank of England to keep rates steady after August rise

[I]  OPEC sees slower 2019 oil demand growth, warns on economy

[I]  Brazil, Australia to fight any Indian sugar export subsidy

[I]  U.S. incomes rose but inequality widened in 2017 - data

[I]  UK house prices steady, sales weakest in 5 months - RICS

[I]  Australian jobs soar in August, unemployment stays still

[I]  Canada's Freeland won't hold NAFTA talks, says more work needed

[I]  OPEC sees slower 2019 demand growth, warns on economy

 

BLOOMBERG 

[I]  2008 Financial Crisis Isn't Over for Some American Families

[I]  Bernanke Admits Fed Made Mistakes Combating Crisis 10 Years Ago

[I]  Europe Will Make Up a Quarter of Global Wind Power in Five Years

[I]  This German Bank Sees More Consolidation After Merging 19 Times

[I]  ECB May Have Lost Its Enthusiasm for Riskier Corporate Debt

[I]  Wall Street's Alarm on Trade Spreads With Goldman's Bear Warning

[I]  There's an Inflation Crisis Brewing in the Philippines

[I]  Crypto’s 80% Plunge Is Now Worse Than the Dot-Com Crash

 

WALL STREET JOURNAL

[I]  Incomes Rose and Poverty Rate Fell for Third Straight Year, Census Data Show

[I]  Business Prices Declined in August

[I]  U.S. Seeks New Trade Talks With China to Avoid Tariffs

[I]  Economy Grows Moderately, But Trade Fears Rise, Fed’s Beige Book Says

[I]  Fed Should Raise Rates for the Next Year or Two, Brainard Says

[I]  Job Openings Exceed Unemployed Americans Again in July

[I]  U.S. Businesses Ramp Up Lobbying Against Trump’s Tariffs

[I]  China Woos U.S. Companies Again, Curbs Trade Threats

 

BUSINESS LINE

[I]  New umbrella scheme to ensure farmers get remunerative price

[I]  Retail inflation cools to 3.69% in August, IIP grows to 6.6% in July

[I]  G20 talks: India wary of proposals to lower tariffs under garb of promoting value chains

[I]  Central Bank moves tribunal against SEBI order

[I]  ‘Banks staring at haircuts of 60% on stressed debt of Rs. 50,000 cr under ICE’

[I]  RBI urged to allow urban co-op banks to expand

 

ECONOMIC TIMES

[I]  Indian bankers could be sitting on a $12.5 bn ticking time bomb

[I]  India Inc's M&A deal tally slips to 8-month low in August: Report

[I]  Farmers should produce what markets want

[I]  Cabinet may overhaul crop procurement scheme today

[I]  Agri produce may be sold at housing societies soon in Maharashtra

[I]  GDP growth peaking; slowdown ahead: Credit Suisse

[I]  The lessons that India can learn from current market volatilities

[I]  Inflation cools to 10-month low of 3.69% in August

[I]  Exports up 19.21% in August; trade deficit at $17.4 bn

 

BUSINESS STANDARD

[I]  IIP, inflation numbers offer Centre respite amid rupee, fuel tantrums

[I]  Rising fuel, finance cost pushes vehicle ownership cost by 6-7% in a year

[I]  Surgical device manufacturers asked to explain hike in prices of products

[I]  Industrial production grows at 6.6% in July; electronics, pharma shine

[I]  At a 10-month low of 3.69% in Aug, retail inflation below RBI target

 

MARKETS (10:00 am)

[I]  SGX NIFTY Fut: 11435;  USDINR DGCX: 72.0625;  DJIA Mini: 26005;  FTSE 100 Fut: 7308;  NIKKEI 225 Fut: 22818;  EUR-USD: 1.1634; Crude Oil (WTI): 69.89;  Gold (Spot): 1206

 

Best Regards, ARBIND

13 Sep 2018