MACRO ECONOMIC NEWS

WISHING THIS WEEKEND SPREADS SMILES AMIDST PLEASANT SHINE. HAPPY WEEKEND

Macro Economic News 06 Oct 2018

 

The unemployment rate fell in September to the lowest level since the Vietnam War while hiring cooled slightly, the latest signs of an extremely tight labor market. Falling U.S. government bond prices signal that investors are beginning to believe the Fed will follow through on its plan for gradual interest-rate increases. The U.S. trade deficit widened in August, as a strong domestic economy boosted Americans’ purchases of foreign automobiles, industrial supplies and petroleum. The Canadian economy added more jobs than expected in September, as a sharp rebound in part-time hiring nudged the unemployment rate down to 5.9%.

 

FINANCIAL TIMES

[I]  US unemployment rate hits lowest level since 1969

[I]  Brazilians in search of security look to Jair Bolsonaro

[I]  Finance, the media and a catastrophic breakdown in trust

[I]  EU drafts tough contingency plans for no-deal Brexit

[I]  Italy builds budget plan on ambitious GDP forecasts

[I]  Suppliers buckle up for Brexit blow to logistics chain

 

REUTERS

[I]  RBI surprises by leaving policy rate unchanged, rupee tumbles

[I]  Russia signs pact for six nuclear reactors on new site in India

[I]  India to keep buying Iranian oil despite U.S. sanctions: sources

[I]  Exclusive: U.S. Commerce's Ross eyes anti-China 'poison pill' for new trade deals

[I]  A decade of U.S. economic sluggishness may have just snapped back to normal

[I]  U.S. actively considering waivers on Iran oil sanctions

[I]  India to keep buying Iranian oil despite U.S. sanctions: sources

[I]  RBI says it's not targeting any exchange rate level for rupee

[I]  India gold discounts widen; Bangladesh launches trade policy

[I]  U.S. job growth cools; unemployment rate drops to 3.7 percent

 

BLOOMBERG 

[I]  Investors Pull Back Their Wagers on Oil’s Rally

[I]  Hedge Funds Post Worst Third-Quarter Performance in Three Years

[I]  Bond Trader's $2.5 Million Wager Targets 10-Year Yield at 3.6%

[I]  These U.S. Industries Hired Most – and Least – in September

[I]  Saudi Crown Prince to Trump: We've Replaced All Iran's Lost Oil

[I]  Emerging-Market Bears Return as U.S. Yields Spike

[I]  Mexico Central Bank Nominee Sees Rate Cuts in 2019 as CPI Slows

 

WALL STREET JOURNAL

[I]  U.S. Jobless Rate Falls to Lowest Level Since 1969

[I]  The September Jobs Report in 9 Charts

[I]  Interactive: The U.S. Unemployment Rate and Wartime

[I]  Bond Investors Catch Up With Fed’s Plans

[I]  U.S. Trade Deficit Widened in August

[I]  Canadian Job Growth Beats Estimates

[I]  A Retirement Wealth Gap Adds a New Indignity to Old Age

[I]  Myanmar’s Economy in Peril as EU Weighs Trade Punishment

[I]  Fed’s Bostic Not Ready to Call for Restrictive Monetary Policy

 

BUSINESS LINE

[I]  E-tailers may burn $1 billion in cash during upcoming festival season

[I]  India’s cooling energy consumption to double by 2027, says report

[I]  Oil’s not so well in the global economy

[I]  PFRDA to review investment norms

[I]  Coming, home automation products that can learn from users’ behaviour

[I]  India’s oilmeal exports plunge 73 per cent in September

[I]  RBI highlights virtues of equity funding of long-term assets

 

ECONOMIC TIMES

[I]  Rupee breaches below 74-mark against US dollar for the first time

[I]  Forex reserve falls by $1.26 billion to $400.52 billion

[I]  Rate hike, OMOs, CRR cut? What RBI can do to lift rupee

[I]  Kharif production could likely decline due to erratic monsoon: Report

[I]  Indian farmed shrimp production may be down by 20% this year

[I]  FinMin kicks off Insurance Manthan

[I]  India, Russia for promoting trade in local currencies

[I]  Inflation target lowered, but risks remain

[I]  Private investments in infra plunge to 25% in FY18: Report

[I]  RBI lowers retail inflation projection to 3.9-4.5% for H2 FY19

 

BUSINESS STANDARD

[I]  Rupee better than other emerging markets peers: RBI governor Urjit Patel

[I]  RBI keeps policy rates unchanged, shifts stance to 'calibrated tightening'

[I]  More financial pain in the offing for OMCs, upstream companies: CRISIL

[I]  Opaque currency regime may restrict rupee-renminbi trade mechanism

[I]  RBI plans voluntary retention route to attract long-term overseas money

[I]  Monetary policy review: Rate cut is off the table, says Urjit Patel

[I]  RBI to revise NBFC asset-liability norms over borrowing, lending mismatch

[I]  India to continue Iran oil imports post US sanctions, to pay in rupees

 

Best Regards, ARBIND

06 Oct 2018