MACRO ECONOMIC NEWS

WISHING THIS WEEK REINSTATE CALMNESS, GENTLENESS, SILENCE, SELF-RESTRAINT, AND PURITY OF MIND. GOOD MORNING.

Macro Economic News 03 Sep 2018

 

Economists expect the US unemployment rate will have ticked down to 3.8%. The U.S. is finalizing plans to double funding for big infrastructure projects around the world, seeking to counter China’s growing influence. U.S. household confidence rose in late August, and consumers are increasingly referencing job and income security when asked to explain why they are buying vehicles and homes. President Trump said Friday he will spend the weekend studying a hold on federal pay increases for 2019 that he instituted a day earlier.

 

FINANCIAL TIMES

[I]  Argentina turmoil batters big names in bond market

[I]  Dutch doctors fight pharma company’s 500-fold drug price rise

[I]  Bond market faces Italian debt supply test

[I]  Fresh Russian protests over pension shift

[I]  Turkey braced for further turmoil amid signs of corporate distress

[I]  Trump’s latest Nafta blast highlights risks to deal

[I]  Berlin falls in love with big banks

[I]  German business leaders raise alarm over Brexit progress

[I]  Europe fires the starting gun in race for top jobs

 

REUTERS

[I]  U.S. cancels aid to Pakistan over record on militants

[I]  Brexit could sway Scottish voters towards independence from UK - poll

[I]  Japan braces for likely landfall from strong typhoon Jebi

[I]  China August manufacturing growth slows to 14-month low: Caixin PMI

[I]  Australian retail sales fizzle out in July, A$ skids

[I]  Amid U.S. trade war, China's Xi reiterates reform commitment

[I]  Agreement on world's biggest trade deal set for November, Singapore says

 

BLOOMBERG 

[I]  Goldman Sees Yuan Gaining in Reserves at Expense of Dollar, Yen

[I]  Trump's Asia Summit Snub Fuels Doubts About U.S. Commitment

[I]  Fed Is Most at Risk of Falling Behind, Says Swiss Re Economist

[I]  Powerful Typhoon Expected to Hit Western Japan on Tuesday

[I]  Biggest India Bond Inflow in Seven Months Fails to Rescue Rupee

[I]  Australia House Prices Fall for 11th Month as Downturn Deepens

[I]  China's Consumers Are On Point to Defend Economy From Trump

 

WALL STREET JOURNAL

[I]  Union Leader Says a New Nafta Won’t Work Without Canada

[I]  Global Economy Week Ahead: Trade Deficit and Jobs Report

[I]  To Counter China, U.S. Looks to Invest Billions More Overseas

[I]  Consumer Sentiment Boosted by Job Optimism

[I]  Trump Says He Will ‘Study’ Federal-Worker Pay

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

[I]  Atlanta’s Growing Pains Are Getting Worse

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

 

BUSINESS LINE

[I]  Down-and-out mid-cap stocks may be ripe for the picking

[I]  SC construction ban in MP, Maharashtra, Uttarakhand ‘will ruin real estate recovery’

[I]  IPPs to move courts seeking stay of RBI order on insolvency process

[I]  Impose penalties for delayed crop-insurance payouts, Agriculture Ministry tells FinMin

[I]  Rise in borrowing by States must be minimised: RBI

[I]  Growing resilience to external shocks

 

ECONOMIC TIMES

[I]  RBI buys gold for first time in nearly a decade

[I]  Gold edges down as rising trade tensions buoy dollar

[I]  'Rupee could Slide to 73 by December'

[I]  India Inc's foreign borrowing rises 74 percent to USD 2.18 billion in July

[I]  India's coal import rises 12% to 79 million tonnes in April-July

[I]  India, the fastest growing major economy, is sitting on a wobbly throne

[I]  Mauritius tops India's FDI charts again in FY18

[I]  343 Infra Projects show cost overrun of Rs 2.23 Lakh Cr

[I]  ‘Missing’ service tax credit in GST update worries companies

 

BUSINESS STANDARD

[I]  RBI to sensitise boards of pvt banks on liability of independent directors

[I]  Banks meet 4% of India Inc's Q1 funding requirement of Rs 2.87 trillion

[I]  FMCG to auto, higher growth in rural sales captures spirit of New India

[I]  Staff shortage in debts recovery tribunals adds to banks' NPA woes

[I]  From insurance claim to arbitration appeal, here are the key court orders

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 11742;  USDINR DGCX: 71.0675;  DJIA Mini: 25969;  FTSE 100 Fut: 7425;  NIKKEI 225 Fut: 22733;  EUR-USD: 1.1600; Crude Oil (WTI): 69.57;  Gold (Spot): 1199

Best Regards, ARBIND

03 Sep 2018