MACRO ECONOMIC NEWS

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Macro Economic News 30 Nov 2018

 

Federal Reserve officials signaled plans to raise interest rates next month, but they appeared more tentative about the pace of increases after that, minutes of the central bank’s recent policy meeting show. The number of Americans filing applications for new unemployment benefits rose last week, but remained at a low level indicative of a tight labor market. American household incomes grew solidly in October, which consumers cheered with higher spending, a sign they could drive economic growth despite concerns about the global economy and U.S. financial markets.

 

FINANCIAL TIMES

[I]  UK and Germany grow wary of Huawei as US turns up pressure

[I]  Donald Trump cancels bilateral talks at G20 with Vladimir Putin

[I]  Germany plans to increase size of armed forces

[I]  Democratic ‘blue wave’ in US midterms finally crests

[I]  South Korea orders reparations over Japan wartime forced labour

[I]  India’s economic statistics bureau drawn into political row

[I]  Australian central bank admits to ‘shortcomings’ in bribery case

 

REUTERS

[I]  Vedanta seeks U.S. oil services consortium for new India blocks

[I]  White House to hold roundtable with tech executives on innovation

[I]  Japan factory output expands most since 2015, but outlook dims

[I]  Bank of Korea lifts rates as expected, seen on hold in 2019

[I]  Japan says no decision yet on whether Abe, Macron will meet at G20

[I]  China factory growth unexpectedly stalls in November: official PMI

[I]  Canada's urban hotspots set for subdued house-price rises in 2019: Reuters poll

[I]  Column: Risks for world economy, markets if U.S. yields hold above 3 percent

[I]  U.S. consumer spending rises strongly, inflation moderates

 

BLOOMBERG 

[I]  China’s Official Manufacturing Gauge Worsens Amid Trade War

[I]  Japan’s Factory Output Jumps in Sign of Recovery in Economy

[I]  Saudi Arabia Faces a Dramatic Choice at OPEC

[I]  China Planning Major Purge of $176 Billion Loan Market

[I]  Bitcoin Becomes a Story of Boom and Bust

[I]  Rising U.S. Jobless Claims Are Starting to Worry Some Economists

[I]  China's Frugal Consumers Squeeze Margins, Hammering Stocks

[I]  Mortgage Spreads Seen Widening More as Demand Dynamic Shifts

[I]  The London Housing Market Is Worse Than It Looks. Here's Why.

 

WALL STREET JOURNAL

[I]  Fed Minutes Signal December Rate Increase Likely, But Less Certain Path Next Year

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

[I]  American Retailers Squeeze Chinese Suppliers

[I]  President Trump Bashes the Fed. This Is How the Fed Chief Responds.

[I]  Jobless Claims Increased Last Week

[I]  U.S. Consumers Step Up Spending to Start Fourth Quarter

[I]  Core Inflation Ticked Down in October

[I]  Prized ‘Rare Earth’ Minerals Feel the Scorch of Tariffs

[I]  U.S. Pending Home Sales Fell 2.6% in October

 

BUSINESS LINE

[I]  Rising rupee, falling crude prices bring mojo back to the market

[I]  India-Myanmar-Thailand highway to be completed in next couple of years: Official

[I]  Water shortage hits jeera, coriander sowing in Gujarat; prices head north

[I]  Great weather for tea in the Nilgiris, output up 13 per cent in October

[I]  With new portal, PSBs likely to regain market share in MSME loans: SIDBI

[I]  India should not follow the China model in universal health-insurance plans: Economist

[I]  To help NBFCs hit by liquidity crisis, RBI reduces minimum holding period

[I]  Despite e-com boom, Indians like to go to shops during festivals: Visa

[I]  MSME exports: Govt plans to hike interest equalisation rate

 

ECONOMIC TIMES

[I]  Sebi committee to recommend direct listing of Indian companies on foreign exchanges

[I]  Sugar falls 5.5% on muted domestic and export demand

[I]  Dollar under pressure after Fed's Powell says US rates near neutral

[I]  Rupee breaches 70 level against dollar on dovish remarks from Fed's Powell

[I]  UP govt eases e-procurement norms for small farmers

[I]  RBI's liquidity boost for NBFCs, relaxes asset securitisation norms

[I]  Middle-class laps up home loan subsidies

[I]  Economists say GDP data suggests slower potential growth

[I]  Indian economy likely to grow at 7-7.4 per cent in FY19: NCAER

[I]  SBI blames adverse policies for missing private capital in infrastructure

 

BUSINESS STANDARD

[I]  Rupee settles below 70 after 3 months, oil prices recover after early loss

[I]  Top cities to see 8-year high in office absorption in 2019, says JLL

[I]  Microfinance industry may come up with Rs 8-bn pool of saleable securities

[I]  Bombay HC seeks govt view on RBI plea against CIC's wilful defaulters order

[I]  Sebi earmarks Rs 5 bn for upgrading surveillance to tackle mkt manipulators

[I]  NBFC liquidity, not governance, to be focus of next RBI board meet

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 10948;  USDINR DGCX: 69.8775;  DJIA Mini: 25359;  FTSE 100 Fut: 7032;  NIKKEI 225 Fut: 22301;  EUR-USD: 1.1395; Crude Oil (WTI): 51.50;  Gold (Spot): 1225

 

Best Regards, ARBIND

30 Nov 2018