MACRO ECONOMIC NEWS

LIFE IS A JOURNEY FROM HUMAN BEING TO BEING HUMAN. WISHING THIS DAY STARTS THE JOURNEY AFRESH.

Macro Economic News 27 Nov 2018

 

Dallas is housing’s “canary in the mine shaft.” Homes are taking longer to sell, bidding wars are rarer and price cuts are more common as buyers absorb the impact of higher mortgage rates. The European Central Bank President reiterated the central bank’s intention to end its easy-money policies, despite a run of weaker-than-expected data. The trade fight between the U.S. and China risks fragmenting the integrating global market, China’s ambassador to the U.S. Cui Tiankai said in an interview. He was speaking ahead of the summit meeting between President Trump and President Xi Jinping in Buenos Aires later this week.

 

FINANCIAL TIMES

[I]  ‘I need a selling season’ — bitcoin sinks below $4,000

[I]  US hits out at Russia over capture of Ukrainian ships

[I]  Draghi confirms plan to end QE despite weak economic data

[I]  May urges cabinet to get out and sell Brexit deal

[I]  Turkey-Russia deal imperilled by attacks in Syria

[I]  Nigeria ‘lost billions’ on oil deal with Shell and Eni

[I]  China banks pose lower global risk after curbs on shadow banking

[I]  Do not assume the UK will avoid a no-deal Brexit

 

REUTERS

[I]  China is building projects at inflated prices - Maldives

[I]  RBI eases hedging rules for external commercial borrowing

[I]  Oil weighed down by record Saudi output; markets eye G20, OPEC meetings

[I]  Australia regulator extends deadline on new capital rules for loans to 2022

[I]  Australian leader promises first budget surplus in a decade

[I]  Mexico's next government pledges budget surplus to calm nervous market

[I]  Trump urges Mexico to send migrants home after border clash

[I]  Britain will head into unknown if Brexit deal is rejected - May

[I]  India set to miss 2018-19 fiscal deficit target: India Ratings

[I]  Brazil economy bounces back from strike; strength may be fleeting

[I]  WTO's quarterly indicator suggests trade growth slowing further in fourth quarter

[I]  Global wage growth slumps to 1.8 percent in 2017, lowest in a decade: ILO

 

BLOOMBERG 

[I]  Australia Government Weakened as Liberal Lawmaker Julia Banks Quits

[I]  Saudi Money Lost Faith in Prince Long Before Khashoggi's Murder

[I]  Trump Asks GOP Voters to Elect Mississippi Senator After Stumble

[I]  Trump Demanding $5 Billion for Border Wall, Shelby Says

[I]  Billionaires Leveraging Up in Case of Downturn, Banker Says

[I]  Date Set for Theresa May’s Brexit Showdown With Hostile Parliament

[I]  China Eases Squeeze, Global Growth Weakens, Fed Debate: Eco Day

[I]  Private Equity Firms Get Clarity on Interest Deduction Limits

 

WALL STREET JOURNAL

[I]  The U.S. Housing Boom Is Coming to an End, Starting in Dallas

[I]  Mario Draghi: QE Program to End in December

[I]  U.S.-China Trade Fight Risks Fragmenting Global Market, Says Beijing Ambassador

[I]  Second-Tier Cities Boast First-Rate Job Figures

[I]  France and Germany Step In to Circumvent Iran Sanctions

[I]  Trump Tells GM to Open Ohio Plant and Stop Output in China

[I]  How a History of Discord Fuels Today’s U.S.-China Trade Tensions

[I]  China Works to Look Open to Foreign Business as G-20 Summit Nears

 

BUSINESS LINE

[I]  Why fuel will continue to be costly in India

[I]  US-China’s trade war may leave India’s granite industry crushed

[I]  Western Australia hopes direct flight link to India will boost tourist inflows

[I]  India, China ink protocol to amend double taxation avoidance treaty

[I]  Mumbai to face another protest march by farmers

[I]  Cotton output may dip 2% to 361 lakh bales, says CAB

[I]  Debt-collection firm SecureDebt aims to recover Rs. 300 cr in FY19

[I]  This branding start-up helps SMEs leave their mark on the market

 

ECONOMIC TIMES

[I]  India plans to discuss duty cuts with China

[I]  India welcomes EU's policy paper on bilateral ties

[I]  Panel to simplify & give report on Direct Tax by Feb

[I]  RBI eases hedging rules to 70% for external commercial borrowing

[I]  Banks may stay away from bonds of NBFCs, HFCs

[I]  RBI can transfer Rs 1 trillion of excess reserves to government: Report

[I]  India set to miss 2018-19 fiscal deficit target: India Ratings

[I]  India eyes bigger share in global trade amid US-China tensions

[I]  Government to implement social security code in three phases

 

BUSINESS STANDARD

[I]  As crude oil prices take a dip, retail fuel prices fail to follow suit

[I]  Funding for early-stage start-ups dries as unicorns raise big amounts

[I]  Global trade growth likely to further diminish in the ongoing quarter: WTO

[I]  Ahead of the meet, MPC member raises concerns over CPI calculation

[I]  General govt debt is high, it hasn't changed: Fitch Ratings' McCormack

[I]  US-China spat may spell manna for SME leather exporters: CRISIL

[I]  Govt to invest Rs 420 bn in PSU banks by March; next tranche in Dec: FinMin

[I]  Insolvency rules change likely to strengthen Bankruptcy Board of India

[I]  RBI reduces hedging requirements for ECBs of 3-5 years to 70% from 100%

[I]  Tight liquidity may prompt banks to stay away from NBFC, HFC bonds: Report

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 10585;  USDINR DGCX: 70.7675;  DJIA Mini: 24498;  FTSE 100 Fut: 7010;  NIKKEI 225 Fut: 21837;  EUR-USD: 1.1333; Crude Oil (WTI): 51.28;  Gold (Spot): 1222

 

Best Regards, ARBIND

27 Nov 2018