MACRO ECONOMIC NEWS

TODAY WOULD BE EMPOWERING TO GET CLOSER TO DREAM. HAVE A FULFILLING DAY AHEAD.

Macro Economic News 04 Oct 2018

 

To free traders, the new Nafta is tough to swallow. But the verdict is different when judged by a different standard—how the world’s trading system survived the most protectionist U.S. administration in memory. The rewrite of Nafta lifts a cloud from a significant portion of the U.S. economy by eliminating a Trump administration threat of 25% tariffs on auto imports from Mexico and Canada, two big sources of cars sold in the U.S. Growth across U.S. service industries accelerated in September to its highest reading on record, clocking another month of robust growth for the gauge.

 

FINANCIAL TIMES

[I]  Emboldened May dances to a longer-playing tune

[I]  US junk debt provides strong returns despite broader woes

[I]  London IPO market hit by double disappointments

[I]  Paris plays down talk of crisis as third Macron minister resigns

[I]  Romania dispute highlights EU fears of creeping autocracy

[I]  Turkey’s inflation rate surges to almost 25%

[I]  Mexico boosted by US-Canada agreement on revamped Nafta deal

[I]  US Senate passes $60bn foreign development bill

[I]  India rivals China on inbound M&A for first time in a decade

 

REUTERS

[I]  India raises winter crop prices

[I]  Dollar scales 11-month peak on yen as U.S. yields surge

[I]  Oil falls as Saudi and Russia quietly agree output rise, US stocks swell

[I]  U.S. warns of new hacking spree from group linked to China

[I]  U.S. Fed prepares for next crisis, bets it will begin like the last

[I]  U.S. services sector activity hits 21-year high; hiring accelerates

[I]  UK economy shows steady growth, Brexit concerns weigh on firms - PMI

 

BLOOMBERG 

[I]  Get Ready For Trade War Pain to Spread Through Asia

[I]  Bond Bears Popping Champagne See Treasury Yields Even Higher

[I]  China's Holiday Week Only Gets Worse as Stocks Slump With Yuan

[I]  Companies Are Furiously Guiding Down Analyst Earnings Estimates

[I]  China Bond Market Gets Reprieve From PBOC Easing, as Sales Jump

[I]  Argentina's Big Policy Shift Is Paying Dividends as Peso Soars

[I]  Fed Eyes 3%-Plus, Italy Peace Offer, Inflation Nation: Eco Day

[I]  South African Banks Face ‘Chicken or Egg’ Quandary as Economy Lags

[I]  The Easy Money Era Is Over in India

 

WALL STREET JOURNAL

[I]  Trade Pact Shows Limits of ‘America First’

[I]  Nafta 2.0: What Is It, What’s Different

[I]  Nafta Rewrite Eases Threat of Auto Tariffs on Economy

[I]  Services-Sector Activity Hits Record High. Thank Tariffs, Local Governments

[I]  Where Hurricane Florence May Show Up in the September Jobs Report

[I]  Trump’s Tax Returns in the Spotlight if Democrats Capture House or Senate

[I]  Private Sector Adds 230,000 Jobs in September

 

BUSINESS LINE

[I]  Govt increases floor price of wheat by Rs. 105 per quintal

[I]  Tax Dept told to permit correction of errors to allow businesses to get GST transitional credit

[I]  SC upholds Constitutional validity of compensation law under GST

[I]  RBI lets oil marketing cos tap ECBs for dollar loans

[I]  Private players want committee on power transmission reconstituted

[I]  India moves up 8 spots in Visa’s e-payments adoption ranking

[I]  Met declares cyclone watch in Arabian Sea, ‘low’ in Bay

 

ECONOMIC TIMES

[I]  Next few months will test a flier's patience

[I]  On fake news, India may follow Singapore model

[I]  Heavy rain likely in Kerala, Lakshadweep

[I]  India's export growth may slow down in coming months on domestic, global headwinds: FIEO

[I]  Tax collections in India raise doubts on lower borrowing plan

[I]  Russian Sovereign Fund to invest in Indian infrastructure

[I]  Invest India asks for inputs from industry to promote e-commerce industry

[I]  Need to regulate Committee of Creditors: NCLAT Chairperson

[I]  PIN code made mandatory for generating e-way bill

 

BUSINESS STANDARD

[I]  Macro headwinds continue to roil markets as rupee plunges to new low

[I]  As rupee breaches 73 level, RBI allows OMCs to raise dollar from abroad

[I]  States plough Rs 10 bn in subsidies to incentivise tractor sales this year

[I]  IT firms, start-ups boost campus hiring at engineering colleges

[I]  Experts oppose govt proposal to cap income of independent directors

[I]  Micro-housing finance boom hits roadblock due to liquidity crisis

[I]  Govt considers special deposit scheme for NRIs to boost dollar inflows

[I]  PE investments zoom in Jul-Sep, making 2018 the best year yet for India

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 10741;  USDINR DGCX: 74.1350;  DJIA Mini: 26773;  FTSE 100 Fut: 7470;  NIKKEI 225 Fut: 24050;  EUR-USD: 1.1472; Crude Oil (WTI): 76.26;  Gold (Spot): 1197

 

Best Regards, ARBIND

04 Oct 2018