MACRO ECONOMIC NEWS

FEEL THE DIVINE BLESSINGS ALL AROUND. WISHING A BLISSFUL DAY AHEAD.

Macro Economic News 17 Oct 2018

 

President Trump reiterated his complaints that the Federal Reserve is raising short-term interest rates too fast, calling the U.S. central bank “my biggest threat.” U.S. manufacturers increased their capacity for the 16th straight month in September, fresh evidence that a strengthening economy is helping to propel an industrial rebound. The federal deficit widened 17% last year amid higher government spending and flat revenues following last year’s tax cut. Global business investment flows fell sharply in the first six months of the year, as U.S. companies repatriated profits in response to changes in the country’s tax law, the United Nations said.

 

FINANCIAL TIMES

[I]  China faces ‘debt iceberg’ threat, warns rating agency

[I]  Steepening gilt curve raises questions about investor demand

[I]  Former Canadian leader joins US cannabis group as rules shift

[I]  Germany’s jubilant Greens storm centre-left stage

[I]  Turkey’s foreign minister wary on US ties after pastor’s release

[I]  Malaysia central bank governor wants option of capital controls

[I]  China homeowners stage protests over falling prices

 

REUTERS

[I]  India aims to cut stubble burning in key states by 70 percent, but experts sceptical

[I]  British royals charm drought-stricken Australian town

[I]  Bangladesh drafts new legislation seen targeting press freedom

[I]  Ethiopia creates 'Peace Ministry' to tackle violence

[I]  RBI lays out rules to make mobile wallet payments seamless

[I]  EU leaders prepare hardball Brexit summit choice for May

[I]  U.S. industrial output rises; job openings at record high

[I]  Trump widens Fed critique, calls it 'my biggest threat'

 

BLOOMBERG 

[I]  What to Watch Out For at the Brussels Brexit Summit

[I]  Nigeria in New Push for Mortgage Growth to Boost Housing Market

[I]  Five Key Takeaways From the Biggest U.S. Banks' Earnings Reports

[I]  Bank of Korea's Tricky Interest Rate Decision Gets Trickier

[I]  China Cuts U.S. Treasury Holdings for Third Straight Month

[I]  Trump Says Federal Reserve Rate Hikes Are His ‘Biggest Threat’

 

WALL STREET JOURNAL

[I]  Trump Complains About Rising Interest Rates, Calling the Fed ‘My Biggest Threat’

[I]  U.S. Job Openings Topped 7 Million for the First Time

[I]  U.S. Manufacturing Capacity Increases for 16th Month in a Row

[I]  U.S. Tax Changes Hit Global Investment Flows

[I]  U.S. to Blame for Weaker China Currency

 

BUSINESS LINE

[I]  Digital payment wallets will become interoperable with new RBI norms

[I]  H-1B issue: Indian IT firms in US sue immigration agency

[I]  AMC/AIF for banks to resolve bad loans faces roadblocks

[I]  Upturn in investment cycle likely to last for five years: RBI

 

ECONOMIC TIMES

[I]  Opec says it has not failed India, provided market stability

[I]  Opec urges producers to ramp up investment amid shrinking spare oil capacity

[I]  Government working continuously to achieve zero hunger by 2030: Radha Mohan Singh

[I]  India worst sufferer of declining trade & slow global growth: Suresh Prabhu

[I]  India ranked 58th most competitive economy in World Economic Forum's index, jumps 5 places from 2017

[I]  State boards on cards to manage social security corpus in place of EPFO & ESIC

 

BUSINESS STANDARD

[I]  Govt plugs gap to allow firms to benefit from fixed-term employment rules

[I]  PSBs facing another muted quarter due to NPA provisioning, funding costs

[I]  How RBI's hard stand on data localisation will impact key players

[I]  Firm Chinese demand, weak rupee, domestic offtake bolster pellet makers

[I]  FPIs dump banks, mutual funds lap up metals in September quarter

 

MARKETS (10:00 am)

[I]  SGX NIFTY Fut: 10637;  USDINR DGCX: 73.4150;  DJIA Mini: 25751;  FTSE 100 Fut: 7055;  NIKKEI 225 Fut: 22828;  EUR-USD: 1.1563; Crude Oil (WTI): 72.02;  Gold (Spot): 1222

 

Best Regards, ARBIND

17 Oct 2018