MACRO ECONOMIC NEWS

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Macro Economic News 03 Nov 2018

 

Robust hiring and wage gains last month leave the Federal Reserve all but certain to raise interest rates in December and on course to continue gradually lifting them next year. The U.S. imported a record amount in September, while the trade deficit with China rose to its highest level, despite Trump’s efforts to close the trade gap. Fed Chairman Jerome Powell has reasons for optimism that the rosy U.S. jobs picture can go on indefinitely, Greg Ip writes. Trump administration’s plan to block Iranian oil exports begins Monday, as it grants waivers allowing eight countries to temporarily import Iranian oil.

 

FINANCIAL TIMES

[I]  US wages grow at fastest pace since 2009

[I]  US says 8 nations to receive waivers on importing Iranian oil

[I]  Brazil’s new finance minister eyes ‘Pinochet-style’ fix for economy

[I]  The global hunt to tax Big Tech

[I]  Russia vows to help Iran counter US oil sanctions

[I]  Hawkish European capitals lobby to beef up eurozone bailout fund

 

REUTERS

[I]  Modi unveils aid for small enterprises as elections near

[I]  RBI to help shadow banks refinance debt as default worries loom

[I]  U.S. allows eight importers to keep buying Iran oil for now

[I]  China promises Pakistan support as Khan tells of 'very difficult' economy

[I]  Italy’s budget dispute with EU is likely to escalate

[I]  EU, Germany, UK and France say they want to protect European firms doing legitimate business with Iran

[I]  U.S. job growth soars; annual wage gain largest since 2009

[I]  Global Economy: Europe focuses on growth, Fed to follow mid-terms

 

BLOOMBERG 

[I]  Trump Says U.S. Open to New Iran Deal as Sanctions Set to Return

[I]  Trump Risks Backlash in Zeal for Deal to End China Trade War

[I]  Investors Have Plenty to Worry About as Market Clouds Gather

[I]  Brexit Silence Can’t Hide Hints That a Deal Is Getting Closer

[I]  Prime-Age Participation Is Picking Up, Creating Puzzle for Fed

[I]  Carney Says BOE Not Bluffing on No-Deal Brexit Rate Hike Warning

[I]  Trump Claims He’s Making the Economy Great Again. Is He?

[I]  U.S. Manufacturing Forges Own Path Amid Global Slowdown

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

[I]  Italian Banks Not Worst for a Change, European Stress Test Shows

[I]  How Europe's Biggest Banks Fared in Toughest Stress Test

 

WALL STREET JOURNAL

[I]  Hiring Accelerates as Wages Strengthen

[I]  Fed Will Likely Raise Rates After Strong Jobs Report

[I]  U.S. Goods Imports Hit New Record

[I]  How Long Can the Great Jobs Picture Continue? The Fed Thinks Indefinitely

[I]  As New Iran Sanctions Loom, U.S. Aims to Plug Gaps

[I]  5 Things to Know About New Sanctions on Iran

 

BUSINESS LINE

[I]  Sparks fly again in fresh FinMin-RBI skirmish

[I]  Relaxing capital norms can hit banks’ credibility: RBI official

[I]  Ease of Doing Business: Positive impact ‘has not percolated to realty sector’

[I]  Can US shale replace the traditional oil? It seems not

[I]  ‘Aadhaar is for govt services, should not be used for absolutely everything’

[I]  On Day 2, N-E monsoon covers the Peninsula

 

ECONOMIC TIMES

[I]  RBI tweaks norms to help shadow banks as default worries loom

[I]  American dream just got tougher for techies

[I]  US curbs looming, India reduces Iran oil imports by 30%

[I]  Indian firms upbeat on local & global opportunities: Survey

[I]  Indian consumer sentiment sees marginal rise in October: Report

[I]  Doubling women workforce can drive GDP up: NITI Aayog CEO Amitabh Kant

[I]  Government fears NBFC defaults without liquidity lifeline: Report

[I]  IMF says monitoring situation in India; bats for RBI's independence

 

BUSINESS STANDARD

[I]  Missing in action: The mystery around short-term capital gains tax data

[I]  Early Diwali for MSME sector: Modi unveils a dozen measures ahead of polls

[I]  Rupee, bonds recover sharply, stocks get boost on soft oil, US-China talks

[I]  US allows India, 7 other nations to buy oil from Iran even after sanctions

[I]  Robust GST collections in October raise fiscal deficit concerns

[I]  Liquidity crisis: Banks get RBI nod to raise credit to NBFC bonds

[I]  Genuine defaulter a fallacy, says RBI deputy governor Vishwanathan

[I]  Cross-border capital flows source of financial fragility: Raghuram Rajan

[I]  As govt, RBI spar, IMF wades into row backing independence of central banks

 

Best Regards, ARBIND

03 Nov 2018