MACRO ECONOMIC NEWS

OTHERS BECOME HAPPY WHEN THEY SEE YOU HAPPY. WISHING A DAY OF HAPPINESS ALL AROUND.

Macro Economic News 26 Oct 2018

 

The U.S. is refusing to resume trade negotiations with China until Beijing comes up with a concrete proposal to address U.S. complaints about forced technology transfers and other economic issues. A pickup in government spending, particularly defense, has helped drive a broad acceleration in U.S. economic growth, according to an analysis of Commerce Department data. As Iran braces for U.S. sanctions that target its financial lifeline—oil sales—it is resorting to a series of extraordinary steps including increasing government handouts to insulate the country’s increasingly restive working class.

 

FINANCIAL TIMES

[I]  ECB sticks with planned December halt to bond purchases

[I]  Germany rejects call for tax cuts as revenues head towards €tn

[I]  Janet Yellen sounds alarm over plunging loan standards

[I]  Rocky start for Iraqi PM as parliament rejects key cabinet picks

[I]  China defence chief criticises ‘dangerous’ US stance

[I]  EU steps up criticism of Romania over rule of law

[I]  US ‘imagination’ breaks in two over what it means to be American

[I]  Customers’ money trapped at UK fintech due to Malta bank freeze

[I]  China is committed to playing by the rules on global trade

 

REUTERS

[I]  Asian shares struggle to shake off rout despite Wall St bounce

[I]  China, India aim to hold army drills in China by end of year

[I]  India's April-September fiscal deficit at 5.95 trillion rupees

[I]  Tokyo inflation holds steady, little cheer for Japan's central bank

[I]  U.S. dairy farmers get little help from Canada trade deal

 

BLOOMBERG 

[I]  Asia Bulls Are Unbowed With Stock Signal on Economy Seen Shaky

[I]  Undeterred by Brexit, Hotelier Perseveres With U.K. Adventure

[I]  Trade Chiefs Say WTO No Longer Sustainable and Needs Reform

[I]  Oil Climbs as Equities Recover, OPEC Signals Output Cuts

[I]  Dollar Hits Second Straight 2018 High as Divergence Re-Emerges

[I]  Fed Fires Warning Shot at Wall Street's Riskier Loan Deals

[I]  Draghi Comments Have Economists Shifting Focus Toward December

[I]  Undeterred by Brexit, Hotelier Perseveres With U.K. Adventure

[I]  Malaysia Tax-Free Period to Boost Third-Quarter Earnings Growth

 

WALL STREET JOURNAL

[I]  U.S. Won’t Resume Trade Talks Without Firm Chinese Proposal

[I]  A Big Reason U.S. Economy Is Accelerating: Military Spending

[I]  Iran Moves to Shelter Millions as U.S. Sanctions Bite

[I]  U.S. Jobless Claims Edged Higher Last Week

[I]  Fed Vice Chairman: Strong Growth Supports Continued Rate Rises

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

 

BUSINESS LINE

[I]  Quality control order will soon cover all steel products: Minister

[I]  Focus shifts to domestic sales due to uncertainties in the export market

[I]  SEBI sets stage for ‘on-tap’ bond issues

[I]  Chinese imports are undermining ‘Make in India’

[I]  What’s ailing the Indian start-up ecosystem these days

[I]  Govt plans 1 million Wi-Fi hotspots by Dec 2019

[I]  North-East monsoon pattern evolves, but rains yet to begin

[I]  RBI issues ‘fit and proper’ criteria for sponsors of ARCs

 

ECONOMIC TIMES

[I]  Market in retreat and deferred IPOs upset PE investors’ exit plan

[I]  Rupee may recover to 70 level in H2 if RBI mops up $30 billion from NRIs

[I]  NPA crisis an opportunity to develop bond market: Sebi

[I]  Forex burn by RBI has silver lining for bond market

[I]  Crisil says corp bond supply may double by FY23

[I]  Agro specific zones being mulled in farm export policy

[I]  India coffee exports to drop as floods dent output -trade body

[I]  Supplies to US help offset fall in seafood exports to European Union

[I]  India makes big push to expand tea export to China

[I]  Elevated corridor to fetch Rs 35,000 crore toll revenue in 20 years

 

BUSINESS STANDARD

[I]  DoT wants telecom operators to stop Aadhaar-based biometric authentication

[I]  RBI plan to move from wholesale cash cycle to a retail-based model

[I]  Fiscal deficit hits 95.3% of full-year target of Rs 6.24 trillion in H1

[I]  India, Bangladesh ink key pacts for cargo, cruise movement: Shipping secy

[I]  India's sugar output may decline marginally this yr due to cane crop damage

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 10157;  USDINR DGCX: 73.2175;  DJIA Mini: 24738;  FTSE 100 Fut: 6916;  NIKKEI 225 Fut: 21313;  EUR-USD: 1.1375; Crude Oil (WTI): 66.86;  Gold (Spot): 1232

 

Best Regards, ARBIND

26 Oct 2018