MACRO ECONOMIC NEWS

THIS FRIDAY WILL START A NEW RELATIONSHIP WITH ONESELF. WISHING PLEASANT TIME AHEAD.

Macro Economic News 28 Sep 2018

 

GDP growth cooled a bit in the third quarter after a robust April-through-June period, economists say, but should remain well above the sluggish gains posted throughout the economic expansion. As American institutions from the courts to law enforcement have become partisan battlegrounds, the central bank for now is an island of dull, apolitical competence. The number of U.S. existing homes going under contract declined in August for the fourth time in five months, reflecting what appears to be a broader slow-down in the housing market.

 

FINANCIAL TIMES

[I]  Advantage India in struggle with China over Maldives

[I]  Israeli gas exports to Egypt set to start next year

[I]  Beer-loving Bavaria falls for Green party cocktail

[I]  Investors signal confidence in Argentina’s IMF deal

[I]  Iran close to accepting global financial rules as sanctions press

[I]  Chinese household debt hits record high, study shows

 

REUTERS

[I]  Motorcycle firms in Chennai hit by strike over wages

[I]  India will continue to buy Iran's oil: Iranian foreign minister

[I]  Japan's industrial output rebounds in August, outlook in doubt

[I]  U.S. regulator sues Musk for fraud, seek to remove him from Tesla

[I]  U.S. to counter Chinese internet bid in Papua New Guinea: diplomat

[I]  Global M&A volume flattens in third quarter as trade tensions loom

[I]  BOJ debated potential of more tweaks to policy framework in Sept

[I]  Bank of Canada says it will continue to raise interest rates gradually

[I]  Saudi Arabia in short-term oil fix, fears extra U.S. supply next year

[I]  Fed chief Powell signals central bank is done with signalling

 

BLOOMBERG 

[I]  Big Banks Accused of Stock Lending Antitrust Plot Must Face Suit

[I]  Oil Poised for Third Weekly Gain as Traders Brace for $100 Crude

[I]  Australian Probe Into Bank Misconduct to Release Report Friday

[I]  Asia's EM Pain, Tariffs Drag U.S. Growth, India Spirits: Eco Day

[I]  Creditors in China See Strong-Arm Tactics From Local Govts

[I]  Tariffs Start to Drag on U.S. Economy as Trade Deficit Widens

[I]  Powell Emboldens Bond Traders to Wager Inflation Will Stay Tame

[I]  Treasury Yields Just Turned Negative for Europe, Japanese Buyers

[I]  What Happened This Week in the World Economy and Why It Matters

 

WALL STREET JOURNAL

[I]  U.S. Economic Growth Slated to Cool in Third Quarter

[I]  House Republicans Tee Up Tax Vote Ahead of Midterms

[I]  The Fed Isn’t the Supreme Court. Thank Goodness

[I]  Aircraft Demand Propels Increase in U.S. Durable-Goods Orders

[I]  U.S. Pending Home Sales Fell 1.8% in August

[I]  Fed Raises Rates, Signals One More Increase This Year

[I]  How China Systematically Pries Technology From U.S. Companies

[I]  WTO Cuts Trade Growth Forecast Citing Heightened Tensions

[I]  White House to Raise Pressure on Canada With Mexico-Only Nafta Draft

[I]  As Fed Raises Rates, Consumers Have Yet to Feel the Sting

 

BUSINESS LINE

[I]  US says no to unconditional withdrawal of penal tariff on Indian steel, aluminium

[I]  Consumer durables companies in a tizzy ahead of festival season

[I]  Price of each product must be lowered in case of GST rate reduction: Profiteering regulator

[I]  WTO lowers trade growth forecast to 3.9 % for 2018

[I]  Economists flag fresh concerns over fiscal deficit, growth prospects

[I]  RBI’s ‘easing’ can release Rs. 2.5-lakh cr into the system

 

ECONOMIC TIMES

[I]  Rising crude in poll time to further erode PE of OMCs

[I]  A tsunami of negatives all set to sink India's bond market

[I]  Tea industry should benchmark itself: Commerce secretary

[I]  India's shadow banking scare could derail its robust growth story

[I]  Higher duties to boost gold trade but take sheen off polished diamonds

[I]  Government may bring legal backing for private companies to use Aadhaar

 

BUSINESS STANDARD

[I]  RBI frees up about Rs 2 trillion worth of liquidity for the banking system

[I]  Without flyers, India's regional airlines are still waiting for their UDAN

[I]  Financial companies in a fix over SC's Aadhaar order, suspend eKYC

[I]  Festive season may turn out to be a challenging period for consumer firms

[I]  Govt mulls higher interest subvention covering all exporters to reduce CAD

[I]  Tea Board wants better e-auction system, but won't lead overhaul process

[I]  Centre may expand social audit to most govt schemes to assess ground impact

[I]  MFs up derivatives exposure to hedge against uncertainty in equity markets

[I]  FPIs pull out Rs 196 billion in September; quantum of MF flows slows

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 11086;  USDINR DGCX: 72.9125;  DJIA Mini: 26504;  FTSE 100 Fut: 7517;  NIKKEI 225 Fut: 24129;  EUR-USD: 1.1645; Crude Oil (WTI): 72.25;  Gold (Spot): 1184

 

Best Regards, ARBIND

28 Sep 2018