MACRO ECONOMIC NEWS

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Macro Economic News 28 Nov 2018

 

The central bank will be deciding whether and when to raise interest rates more on the basis of the economy’s latest signs—such as in inflation, unemployment and growth—and less on the long term. Federal Reserve Vice Chairman Richard Clarida said the central bank would keep raising short-term interest rates gradually, a hint that another rate increase is coming in December. A measure of confidence among American households fell in November from an 18-year high, driven down by weaker expectations for the economy.

 

FINANCIAL TIMES

[I]  White House casts doubt on G20 deal to resolve China trade war

[I]  Donald Trump faces fallout of stalling US car industry

[I]  EU signals big asset sales to greenlight Alstom-Siemens tie-up

[I]  Chinese steel futures tumble amid signs of demand slowdown

[I]  Britain clears trade hurdle ahead of Brexit

[I]  Pakistan’s shrine corridor raises prospect of thaw with India

[I]  French watchdog calls for rethink of research rules

 

REUTERS

[I]  Refinery shutdowns may push India into importing refined fuels next year

[I]  Illegal immigrants in U.S. at lowest level since 2004 - study

[I]  Australia central bank subsidiaries charged, fined over bribery

[I]  Australia's wild weather floods Sydney; fans deadly bushfires

[I]  Growth and trade worries to keep a lid on European stocks in 2019: Reuters poll

[I]  Hong Kong's finance sector M&A deals fall prey to China crackdown

[I]  UK government, Bank of England to spell out no-deal Brexit risks for economy

[I]  EU trade chief urges U.S. to join talks on WTO reform

 

BLOOMBERG 

[I]  Gulf Cash Fuels Fight for Muslim Hearts and Minds in West Africa

[I]  Indonesian Bonds Back on Menu as Asia High-Yielders Lure Inflows

[I]  Chinese Banks Are Hiring People to Manage $930 Billion of Wealth

[I]  Nine Million Fewer Americans Shopped This Black Friday Weekend

[I]  A $500 Billion Fund Sees ‘Glorious Chaos’ in Credit Bear Market

[I]  3 Words and $3 Trillion: The Inside Story of How Mario Draghi Saved the Euro

[I]  U.K.'s Regions See House Prices Drive Higher in Spite of Brexit

[I]  India Considers Merging Two State-Owned Power Lenders

 

WALL STREET JOURNAL

[I]  Fed Enters a New, Less Predictable Policy-Making Phase

[I]  Fed Vice Chairman Signals Another Interest-Rate Increase in December

[I]  U.S. Consumer Confidence Slips From 18-Year High

[I]  Kudlow Voices Skepticism Over U.S.-China Trade Meeting

[I]  Home-Price Gains Continue to Slow in September

[I]  Charities Expect Tax-Driven Dip in Giving

[I]  Fed’s Evans Says Time to Get Back Toward More Normal Interest-Rate Levels

[I]  Fake Signals and Illegal Flags: How North Korea Uses Clandestine Shipping to Fund Regime

 

BUSINESS LINE

[I]  Govt allows ethanol extraction for blending from foodgrains, too

[I]  Commerce Ministry working with FinMin, PMO to improve export credit: Suresh Prabhu

[I]  Crude overshot to the downside, but correction likely soon

[I]  NTT to buy payments arm of 63 Moons for $9 million

 

ECONOMIC TIMES

[I]  Farmers organisation challenges change in recovery base of FRP in the High Court

[I]  20 nations likely to participate in mega logistics meet in January 2019

[I]  Bank resource flow to commercial sector picks up 15.6 per cent y-o-y in November

[I]  India recorded highest average real wage growth in South Asia during 2008-17: Report

[I]  RBI governor bats for autonomy, does not target government

[I]  Exporters move High Court after govt denies tax credit

[I]  Credit growth to real economy healthy, says RBI

[I]  IT Minister says work on to restore Aadhaar services to 3 lakh common service centres

[I]  Government, RBI zeroing in on expert panel members

 

BUSINESS STANDARD

[I]  Economic capital framework: Govt for Jalan, RBI wants Mohan as panel head

[I]  Capital cushion needed amid global uncertainty: RBI governor Urjit Patel

[I]  Lower crude, rupee rate have no impact on consumer durables makers

[I]  Make in India in machinery may get leg up from ambitious steel output plan

[I]  RBI board meet outcome won't instantly resolve India Inc's credit concerns

[I]  GST collection: Couple of highs, but way short of Rs 12 trillion target

[I]  Centre announces first mega buyer-seller logistics meet in 2019

[I]  What oil at $50 a barrel means for the world economy, India

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 10718;  USDINR DGCX: 70.9125;  DJIA Mini: 24773;  FTSE 100 Fut: 7045;  NIKKEI 225 Fut: 22146;  EUR-USD: 1.1294; Crude Oil (WTI): 52.03;  Gold (Spot): 1214

 

Best Regards, ARBIND

28 Nov 2018