MACRO ECONOMIC NEWS

TRUST THE PLAN EVEN IF YOU CAN’T SEE IT ALL; EVERYTHING WILL UNFOLD SOON. WISHING THIS DAY MAKES YOU FACE THE FUTURE PEACEFULLY.

Macro Economic News 29 Nov 2018

 

Federal Reserve Chairman Jerome Powell said that interest rates are “just below” a broad range of Fed officials’ estimates of a level considered neutral, a setting designed to neither speed nor slow growth. Overseas profit growth at American firms is slowing, a new sign of how the faltering global economy is reverberating back to the U.S. Rising mortgage rates, higher material and labor prices, as well as a tax law passed in 2017 contributed to the lackluster performance in the segment of the housing market that helps drive economic growth through construction work.

 

FINANCIAL TIMES

[I]  Stocks rally after Powell says US interest rates nearing ‘neutral’

[I]  Argentines feel the squeeze as living standards fall

[I]  Cutting carbon emissions to zero will cost billions, says EU

[I]  Romania minister calls for curbs on EU free movement

[I]  Theresa May concedes any Brexit will leave UK worse off

[I]  Fed flags hard Brexit and Italian debt as near-term risks to US 

[I]  US antitrust enforcement falls to slowest rate since 1970s

[I]  Russia and Japan push to resolve Kuril Islands dispute

 

REUTERS

[I]  China signs pact with India to inspect fish meal, fish oil imports

[I]  Australian firms boost spending plans, third-quarter investment eases

[I]  Bull run finale for global stocks not far off now - Reuters poll

[I]  Japan retail sales rise most in 10 months, signal economic rebound

[I]  Government to run power play at next RBI board meeting: sources

[I]  Trump administration to examine tools to raise U.S. tariffs on Chinese autos

[I]  Fed's Powell: Financial risks 'moderate' despite vulnerabilities

[I]  British banks withstand disorderly Brexit in Bank of England test

[I]  U.S. third-quarter growth unrevised, headwinds increasing

 

BLOOMBERG 

[I]  Hong Kong Has ‘Got it Wrong’ on Public Housing, Developer Says

[I]  Resilient Russian Oil Companies Give Putin Leverage With OPEC

[I]  Less Than Half of U.S. Factories Expect Tariff Price Impact

[I]  U.K. Consumer Confidence Wanes to Year-Low on Brexit Worry

[I]  Don't Count on the Fed Saving Stocks Again

[I]  Asia's Growth Is Shifting Down a Gear

[I]  Bank of Korea Is Poised to Rejoin Ranks of Asia's Rate Hikers

[I]  The Outlook for the World’s Fastest-Growing Economy Is Muted

 

WALL STREET JOURNAL

[I]  ‘Bring Me Tariffs’: How Trump and Xi Arrived at the Brink of a Trade War

[I]  American Retailers Squeeze Chinese Suppliers

[I]  Trump Says GM Plant Closings May Justify New Car Tariffs

[I]  Fed Chairman Says Interest Rates Are Just Below Estimates of Neutral

[I]  Slowing Global Economy Weighs on U.S. Profits, Trade

[I]  October New-Home Sales Are Hit by Sharpest Drop Since 2017

[I]  Consumer Beware: With Less Trade Comes Less Choice

[I]  U.K. Predicts Economic Costs of Brexit Scenarios

[I]  Fed Identifies Top Vulnerabilities Facing U.S. Financial System

[I]  Bank of Mexico Trims Growth Estimates

 

BUSINESS LINE

[I]  Back series data trim GDP growth rates for FY05-12

[I]  Engineering exports may dip $5 b this fiscal on growing protectionism: EEPC

[I]  CA Institute to begin e-hearing of disciplinary cases from January

[I]  Overseas markets wipe away tears of onion traders hit by low domestic prices

[I]  Farmers demand loan waiver, better prices; plan protest in Delhi

[I]  Suspension of Aadhaar verification to hit lending of small fintech players

 

ECONOMIC TIMES

[I]  Over 50 Indian companies eye expanding operations to RAKEZ in UAE

[I]  Farming & mining hit primary sector growth in UPA era

[I]  West Bengal finds ways to increase organic farming

[I]  India Inc foreign borrowings down 66% to $1.41 billion in October

[I]  Andaman to host 1st ever Indo-Indonesian biz forum as part of Indo-Pacific strategies

[I]  India's ambition to replace China as industrial hub a 'pie in the sky', says Chinese media

[I]  No political motive behind the move: Rajiv Kumar, Niti Aayog

[I]  GDP backseries data: Niti Aayog's role raises eyebrows

 

BUSINESS STANDARD

[I]  Economists expect a 'pause' in RBI's Dec 5 policy review: BS poll

[I]  Can Alternative Investment Fund be the way forward for family offices?

[I]  IFC investments in India up by 136% to over $2.6 billion in FY 2018

[I]  Carmakers book a date, time their price hike announcement to lure customers

[I]  Auto firms laud EV draft policy, but flag infra, incentive concerns

[I]  Mauritius, Singapore funds likely to shift to GIFT City after Sebi norms

[I]  PE landscape getting better in India as investments fetch higher returns

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 10823;  USDINR DGCX: 70.6025;  DJIA Mini: 25319;  FTSE 100 Fut: 7057;  NIKKEI 225 Fut: 22322;  EUR-USD: 1.1373; Crude Oil (WTI): 50.68;  Gold (Spot): 1222

 

Best Regards, ARBIND

29 Nov 2018