MACRO ECONOMIC NEWS

LET THE LIFE BE LIBERATED AND LIVED LIVELY. WISHING A LOVELY DAY AHEAD.

Macro Economic News 12 Oct 2018

 

Though the central bank has boosted rates—drawing criticism from President Trump—it sees falling unemployment, economic growth and the return of normal inflation as other factors behind the rise. U.S. consumer prices rose only slightly in September, a sign inflationary pressures remain in check despite solid economic growth and low unemployment rate. The number of Americans filing applications for new unemployment benefits rose last week but remains historically low and is consistent with a tight labor market.

 

FINANCIAL TIMES

[I]  UK and Brussels close to agreeing Brexit deal

[I]  IMF readies for further danger signals in emerging markets

[I]  ECB policymakers fear trade war hit on growth

[I]  Global carmakers rattled by stalling China market

[I]  Italian banks feel the strain from bond market sell-off

[I]  Australia’s banks aim to rebuild trust after critical inquiry

[I]  UK banks risk rating downgrades in disorderly Brexit

 

REUTERS

[I]  India to raise import tariffs on electronic and communication items

[I]  Dollar hovers near two-week lows on falling yields, Wall Street losses

[I]  Talks between EU, U.S. don't point to trade war - Germany's Scholz

[I]  Wall Street tumbles again, world equities at one-year low

[I]  RBI changes tack on forex intervention, focuses on forwards market

[I]  U.S. inflation slows in September, weekly jobless claims increase

 

BLOOMBERG 

[I]  Russia Presses Europe to Break With Trump and Help Rebuild Syria

[I]  Australia’s Central Bank Warns of Heightened Trade-War Risk to Economy

[I]  Wall Street Sees Treasuries Yield Curve Flattening Into 2019

[I]  Singapore Tightens Monetary Policy on Steady Growth Outlook

[I]  Trump Roars, Fed Yawns and Markets Bet on Powell's Credibility

[I]  Carney’s BOE Forecasts in Doubt With Brexit Deadline Drawing Closer

 

WALL STREET JOURNAL

[I]  Fed Officials See Strong Economy Justifying Interest Rate Rises

[I]  Consumer Prices Rise 0.1%, Less Than Forecast

[I]  Social Security Benefits to Get 2.8% Boost, Largest Since 2012

[I]  Nafta Rewrite Won’t Boost U.S. Growth, Economists Say

[I]  U.S. Jobless Claims Edge Higher

[I]  Mortgages Fast Approaching 5%, a Fresh Blow to Housing Market

[I]  Economists Increasingly Confident of Fed Rate Hikes

[I]  World Bank Aims to Shame With ‘Human Capital’ Ranking

[I]  For IMF Help, Pakistan Might Have to Disclose Its China Debts

 

BUSINESS LINE

[I]  Centre hikes import duty on key telecom equipment to 20%

[I]  It is difficult for public sector units to compete with private players: Jaitley

[I]  More measures coming to boost rupee, check CAD: Govt

[I]  Quarterly reporting onerous for corporates

[I]  ‘Tightening regulatory norms put pressure on banks’

 

ECONOMIC TIMES

[I]  India bends over backwards to save Re, hikes import duty

[I]  Centre to seek Election Commission’s nod for 40-60% MSP hike for forest items

[I]  Bulk tea growers likely to witness sizeable adverse impact on operating cost

[I]  Suresh Prabhu seeks higher sops to push farm, services exports

[I]  India's manufacturing sector to record robust growth in Q2: Report

[I]  Working group invites stakeholders' views on roadmap for USD 5 trillion economy

[I]  Builders leasing out unsold property face tax burden

[I]  India rejects findings of World Bank report on Human Capital Index

 

BUSINESS STANDARD

[I]  India ranks 115 in World Bank's Human Capital Index; govt dismisses report

[I]  Govt raises import duties up to 20% on telecom equipment, components

[I]  RBI firm on data localisation; 80% of firms to comply by Oct 15 deadline

[I]  Automakers offer discounts, schemes to woo buyers during festive season

[I]  Govt looking to amend FEMA to cut costs associated with remittances

[I]  Free trade agreements not undercutting India's exports to China: Study

[I]  Credit growth may slip to 10% on band-aids in future, warn analysts

[I]  Sharp fall in markets deals blow to govt as PSUs lose Rs 6 trillion

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 10317;  USDINR DGCX: 74.0575;  DJIA Mini: 25358;  FTSE 100 Fut: 6996;  NIKKEI 225 Fut: 22477;  EUR-USD: 1.1605; Crude Oil (WTI): 71.25;  Gold (Spot): 1221

 

Best Regards, ARBIND

12 Oct 2018