MACRO ECONOMIC NEWS

WE KNOW WHAT WE ARE AND KNOW NOT WHAT WE MAY BE. WISHING VALOUR TO VENTURE VOLUNTARILY INTO VULNERABLE.

Macro Economic News 24 Oct 2018

 

Puerto Rico lost 35,000 jobs in the month after Hurricane Maria struck. One year later, employment in the storm-battered island still hasn’t recovered. Overseas investors, traders and central bankers are buying fewer Treasurys, which helped fuel a bond selloff this fall. Foreign buyers now hold 41% of outstanding Treasury debt, the lowest share in 15 years. A Trump administration threat to pull out of a global mail system over its discounted shipping rates from China could spur a change in those rates as early as April, the head of the agency that oversees the system said.

 

FINANCIAL TIMES

[I]  Rising costs at US manufacturers unnerve investors

[I]  Trump to meet Putin in Paris after threat to pull out of arms pact

[I]  Emerging market equities trade at close to a decade-long discount

[I]  EU rejects Italian budget in unprecedented rebuke

[I]  Trump’s nuclear treaty threat endangers arms control efforts

[I]  UK readies flotilla plan for supplies in no-deal Brexit

[I]  Dream of universal internet access remains far off

[I]  Taiwan prepares pitch for more US arms amid China tensions

 

REUTERS

[I]  Activists smoulder over 'green' Diwali firecrackers

[I]  China inks free trade agreement MOU with Palestine

[I]  Oil extends declines as Saudi Arabia commits to meet demand

[I]  Japan October manufacturing rises on bounce in new export orders: flash PMI

[I]  UK PM May's Brexit transition plan could last for years - London Times

[I]  Brazil election poll shows Bolsonaro with 57 percent vs Haddad's 43 percent

 

BLOOMBERG 

[I]  Realtors Spend Record $26 Million on Lobbying

[I]  Chinese Stimulus, Fed Warning, Sino-Japan Rapprochement: Eco Day

[I]  Carney’s Brexit Views Are About to Be Weaponized

[I]  Employers' Confidence in U.K. Economy Nosedives as Brexit Nears

[I]  Popularity of India Stocks Over Past Decade Adds to Outflow Risk

[I]  Treasury Yields Find Floor in U.S. Hours, Still Tied to Stocks

[I]  Mom and Pop Are Buying the Dip in Stocks While the Pros Stay Put

[I]  EU Hands Italy Unprecedented Budget Rebuke on Rules Breach

[I]  Singapore Shoe-Box Rule May Cheer Home Buyers, Not Home Builders

 

WALL STREET JOURNAL

[I]  GOP Latches Onto Vague Trump Tax Statement as Campaign Nears End

[I]  What Puerto Rico’s Job Market Looks Like a Year After Hurricane Maria

[I]  Foreign Buying of U.S. Treasurys Softens, Unsettling Financial Markets

[I]  Global Postal System Fast-Tracks Rate Review Following U.S. Gripe

[I]  Alaska’s Economy Finally Starts to Thaw

[I]  Fed’s Bostic Sees Growth, Need for ‘Gradual’ Rate Rises

[I]  Bank of Canada Widely Expected to Raise Interest Rates

 

BUSINESS LINE

[I]  SEBI nixes ‘upfront commission’ in MFs

[I]  SC ruling on firecrackers: Implementation is tricky, say industry players

[I]  Absence of a deep bond market is major cause for banking crisis: CAG

[I]  N-E monsoon may ride on flows triggered by latest Pacific typhoon

[I]  Organic food product exports up 39% at $515 m in 2017-18

[I]  Banks to see a spike in retail lending this festival season

[I]  NBFC liquidity crisis pushes up rates for borrowers

 

ECONOMIC TIMES

[I]  How the salaried take the heaviest tax hit

[I]  Banks' troubles run deeper than only the NPA

[I]  Method in madness? Why RBI, govt not acting tough on rupee

[I]  Global growth worries, geopolitical headwinds give gold a lot to cheer

[I]  Vehicle owners to pay 18% under GST on pollution check

[I]  Ban on Aadhaar linking may crimp growth of financial players

[I]  Liquidity crunch may hurt economic growth, say economists

[I]  Two crore Indians file returns but pay zero income tax

 

BUSINESS STANDARD

[I]  Double whammy for renewable sector: Tariff cut and missing financiers

[I]  Sebi mulls standardisation for PMS schemes by setting up industry body

[I]  Income tax returns slowed in demonetisation year, says CBDT data

[I]  Private life insurers benefit from focus on 'protection' products

[I]  Direct tax collection falls in six states; UP, Rajasthan worst performers

[I]  Capex of 16 states shows robust 21.9% growth in first 5 months of FY19

[I]  Internet services may reach $124 bn by 2022, create 12 mn jobs: Report

[I]  After 3 months of deflation, wholesale food prices may turn inflationary

 

MARKETS (06:45 am)

[I]  SGX NIFTY Fut: 10252;  USDINR DGCX: 73.3025;  DJIA Mini: 25203;  FTSE 100 Fut: 6981;  NIKKEI 225 Fut: 22075;  EUR-USD: 1.1468; Crude Oil (WTI): 66.39;  Gold (Spot): 1233

 

Best Regards, ARBIND

24 Oct 2018