MACRO ECONOMIC NEWS

MAY WE WALK WITH THE WISE AND THINK SOUND FOR A GRACIOUS LIVING. WISHING A GRACIOUS DAY AHEAD.

Macro Economic News 31 Oct 2018

 

Home-price gains fell below 6% for the first time in a year in August, another sign the housing slowdown is becoming widespread. A measure of U.S. consumer confidence rose in October to an almost two-decade high, as consumers expected economic and jobs growth to power ahead in the coming months. The U.S. Treasury Department estimates it will issue more than $1 trillion in debt this year as higher government spending and stagnant tax revenues push the deficit higher.

 

FINANCIAL TIMES

[I]  EU pledges access to UK clearing houses in no-deal Brexit

[I]  Donald Trump proposes end to birthright citizenship

[I]  ECB exit strategy clouded by weakest growth in four years

[I]  Modi government in public spat with Reserve Bank of India

[I]  China lifts ban on trade of tiger bones and rhino horns

[I]  Chinese economists blame ‘China model’ for US trade war

[I]  South Korea-Japan relations sour over wartime slavery decision

 

REUTERS

[I]  Britain plans expansion of diplomatic network after Brexit

[I]  China factory growth weakest in over 2 years, slump in export orders deepens

[I]  Dollar holds near 16-month highs, yen down ahead of BOJ

[I]  China October official services PMI falls to 53.9

[I]  Japan October industrial output falls as trade friction weighs

[I]  U.S. consumer confidence at 18-year high; house price gains slow

[I]  Mood sours as euro zone economic growth slows while Italy stagnates

[I]  High oil prices hurt consumers, dent fuel demand: IEA chief

 

BLOOMBERG 

[I]  China Feels Trade War Pain as Export Gauge Signals Worse to Come

[I]  Brexit Worry Drags U.K. Business Optimism to Lowest in a Year

[I]  These Are the Charts That Scare Wall Street

[I]  Whatever the Stock Market's Problem, It's Worse in Tech Shares

[I]  Panel Pushes to Give Ordinary Investors Access to Private Equity

[I]  Falling Peso Hits Debt-Laden Philippine Companies

[I]  Wall Street May Get Capital Break in New Approach to Derivatives

[I]  Janet Yellen Says She’s Concerned About Trump Undermining Trust in Fed

 

WALL STREET JOURNAL

[I]  Home Prices Continue to Lose Momentum

[I]  Millennials Drive Uptick in Homeownership

[I]  U.S. Consumer Confidence Surged to 18-Year High

[I]  U.S. Tech Firms Are Winning the R&D Spending Race With China

[I]  Treasury Expects to Issue Over $1 Trillion in Debt in 2018

[I]  Ocean Carriers Brace for Orders Surge Ahead of Potential New Tariffs

[I]  U.S. Economy Flashes Signs It’s Downhill From Here

[I]  GDP Grows 3.5% on Consumer Vigor but Investment Slows

 

BUSINESS LINE

[I]  IT’s raining jobs! Sept quarter sees hiring spike

[I]  FinMin looks to bury the hatchet with RBI

[I]  India and Italy to set up fast-track mechanism to promote investments

[I]  Commerce Ministry to take up exporters’ complaints on GST refund with FinMin

[I]  Sugar mills hit the sweet spot with export subsidy

[I]  Cross-border insolvency: Panel proposes simple trigger for domestic proceedings

 

ECONOMIC TIMES

[I]  Why foreign investors are unfazed by rift between RBI, govt

[I]  China’s Yuan drops to a decade-low, 7 per Dollar now in sight

[I]  What family-run businesses do to resolve conflicts within

[I]  High consumption of rubber may trigger its production growth in India

[I]  India's 2018-19 sugar export contracts rise to 8.5 lakh tonnes: Traders

[I]  Centre, states apportion Rs 32,000 crore IGST in October

[I]  RBI vs government: 10 flash points between Centre and central bank

[I]  India can seek duty cuts from China on 200 items

[I]  Government invokes never-used powers to direct RBI governor

[I]  Govt may step up disinvestment drive with power PSUs’ mergers

[I]  Govt to promote education sector to increase services' share in GDP: Suresh Prabhu

[I]  India in dire need of long-term growth strategy

 

BUSINESS STANDARD

[I]  Lenders to take 56% haircut in the dirty dozen companies under IBC process

[I]  Can't control pollution by units of states, private sector: Power ministry

[I]  How will the currency swap agreement between India and Japan work?

[I]  Govt hopes better rank in World Bank's Doing Business 2019 report

[I]  92% of funds for wage payments under MGNREGA raised, says govt

[I]  IRDAI draft proposal to suit customer needs, provide more benefits

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 10300;  USDINR DGCX: 73.9050;  DJIA Mini: 24895;  FTSE 100 Fut: 7060;  NIKKEI 225 Fut: 21787;  EUR-USD: 1.1346; Crude Oil (WTI): 66.52;  Gold (Spot): 1220

 

Best Regards, ARBIND

31 Oct 2018