MACRO ECONOMIC NEWS

A LITTLE SMILE ADDS SUBSTANTIAL SERENITY TO SETTLE THE STIRS OF LIFE. WISING A SMILING DAY AHEAD.

Macro Economic News 25 Oct 2018

 

Businesses are still optimistic about the economy’s growth trajectory, but indicated concerns that tariffs would continue to push up costs, according to a Fed. Sales of new homes in the U.S. slumped for the fourth-consecutive month and inventories swelled to the highest level in years, suggesting the housing market is falling deeper into a weak stretch. The Bank of Canada raised its key interest rate by a quarter-percentage point, as a resolution on a new North American trade pact and easing concerns over household debt gave policy makers more confidence in Canada’s economic outlook.

 

FINANCIAL TIMES

[I]  Merkel fights for future as German voters’ mood turns ugly

[I]  Nato launches biggest war game since Soviet era

[I]  South Africa slashes growth forecasts amid deficit warning

[I]  Italy lauds Putin and sets up Brussels battle

[I]  Eurozone economic confidence hurt by global trade war

[I]  South Korea seeks to revive struggling economy

[I]  France and Italy edge closer to shipbuilding alliance

[I]  Private equity set to surpass hedge funds in assets

 

REUTERS

[I]  Smartphones emerge as bright spot for Indian manufacturing

[I]  Global stocks crumble as global growth, U.S. earnings fears spook markets

[I]  New Delhi braces for 'deadly cocktail' of pollution as air quality slides

[I]  Government seeks to tighten rules against sexual harassment

[I]  BOJ deputy governor warns against pricking bubbles with monetary tightening

[I]  Course unchanged for ECB as growth worries bubble under

[I]  Japan, China seek warmer ties against backdrop of U.S. trade friction

 

BLOOMBERG 

[I]  RBI's Forex Burn Comes With Silver Lining for India Bond Market

[I]  China Calls Any Challenge on Taiwan ‘Extremely Dangerous’

[I]  Asia Stocks Lose $5 Trillion This Year With No End in Sight

[I]  China's $4 Billion Fund Liquidation Leaves Traders Guessing

[I]  Trump's Fed Jabs, Global Labor Supply, Canada Tightens: Eco Day

[I]  Canada’s Benchmark Index Enters Correction Amid Mounting Rate Worries

 

WALL STREET JOURNAL

[I]  Fed Report Sees Optimism About Growth, but Growing Concerns About Tariffs

[I]  Send Word: Trump Right to Fight Some Global Rules

[I]  New Home Sales Fall, Inventories Rise on Faltering Demand

[I]  Bank of Canada Raises Interest Rates

[I]  ‘Where Do We Have Tariffs?’ Trump Asks. Here’s a List

[I]  Manufacturers See Signs of New Risks

[I]  Global Postal System Fast-Tracks Rate Review Following U.S. Gripe

[I]  Foreign Buying of U.S. Treasurys Softens, Unsettling Financial Markets

 

BUSINESS LINE

[I]  Indian Institute of Skills to be set up in public-private partnership mode

[I]  Textile exports need ‘WTO-compliant’ subsidy schemes, says ICRIER study

[I]  Domestic air passenger traffic increases 19% in Sept

[I]  Nutritional beverages pushing sugary drinks out

[I]  Regulation mooted to stop hospitals from forcing patients to buy drugs from in-house pharmacies

[I]  VC funding for digital health cos rises 46% to $8 b in 9 months

[I]  NBFC crisis seen lowering land prices, triggering consolidation in realty sector

[I]  Corporate bond market may touch Rs. 60-lakh cr by FY2023-end: Crisil

 

ECONOMIC TIMES

[I]  Bihar completes 100% electrification before deadline

[I]  Oil cools off, but US sanctions on Iran set to be a big decider

[I]  Cash crunch in financial markets worsens further

[I]  India, Vietnam identify biotechnology, super-computing to take bilateral trade to $15 bn

[I]  India plans trade deal to boost exports to China

[I]  UK will find India a willing partner to increase trade after Brexit: Envoy

[I]  Business confidence improves marginally in October-December quarter: Report

[I]  Cabinet approves Adjudicating Authority for speedy disposal of benami cases

 

BUSINESS STANDARD

[I]  RBI rejects liquidity window for NBFCs; govt demurs citing cash crunch

[I]  Trade deficit in oil up 67% in H1 of FY19 due to drop in petro exports

[I]  India set to replace US as the second-largest steel-consuming country

[I]  PM Modi says citizens should do more, pitches for 'tax-plus-one' system

[I]  As NBFCs turn off tap, realty funds see deal proposal spurt but remain wary

[I]  Inflow of capital from China has reduced over past 4 years, shows report

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 10131;  USDINR DGCX: 73.3900;  DJIA Mini: 24670;  FTSE 100 Fut: 6897;  NIKKEI 225 Fut: 21473;  EUR-USD: 1.1411; Crude Oil (WTI): 66.31;  Gold (Spot): 1237

 

Best Regards, ARBIND

25 Oct 2018