MACRO ECONOMIC NEWS

GOD HAS SWORN AND CONFIRMED YOUR HAPPINESS. WISHING A JOYOUS DAY AHEAD.

Macro Economic News 21 Dec 2018

 

The Federal Reserve’s decision to raise interest rates and signal more coming, albeit fewer than before, shows Chairman Jerome Powell cares much more about the data than the markets. 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. Job recruiters, once overrun with applicants, now face candidates who don’t show for appointments or even completely disappear, in the tightest labor market since 1969.

 

FINANCIAL TIMES

[I]  US and UK accuse China of cyber espionage campaign

[I]  US warns of Chinese influence at multilateral lenders 

[I]  Putin defends economic strategy at marathon press conference

[I]  Italy budget truce fails to address debt load

[I]  US market slide underscores challenge facing Fed

[I]  UK government ‘ready’ to allow regulator oversight of crypto assets

[I]  Brexit Britain should follow Canada’s lead 

 

REUTERS

[I]  Rupee turns around on global dollar weakness, stocks also recover 

[I]  Japan's government approves record defence spending, seventh straight annual hike

[I]  Japan PM Abe's cabinet approves record $900 billion budget in FY 2019/20

[I]  U.S., allies slam China for economic espionage, spies indicted

[I]  Russia's Putin accuses U.S. of raising risk of nuclear war   

[I]  British ministers split over next Brexit steps if PM's deal fails 

[I]  UK parliament to resume Brexit deal debate on Jan. 9

[I]  Global banks chase Asia techs transaction business, as trade war rumbles

[I]  Dealmakers brace for slowdown after third-strongest M&A year

[I]  Europe is biggest drag in slump in 2018 equity raising

 

BLOOMBERG 

[I]  Japan’s Cabinet Approves Record Budget to Soften Tax-Hike Blow

[I]  Shutdown Looms as House Backs Trump Border Funds Senate Opposes

[I]  South Korea's Early December Trade Points to Softening Demand

[I]  Brexit Uncertainty Is Making the British Nervous to Spend

[I]  U.S. Stocks Are Now More Volatile Than Their Emerging Market Peers

[I]  China Is Said to Prioritize Capital Market Reform in Coming Year

[I]  Japan’s Cabinet Approves Record Budget to Soften Tax-Hike Blow

 

WALL STREET JOURNAL

[I]  Fed Raises Rates, Signals a Tentative Approach Next Year

[I]  Powell’s Bet: The Data Is Right, the Market Is Wrong

[I]  The Loneliest Job in a Tight Labor Market

[I]  U.S. Jobless Claims Rose Last Week

[I]  Parsing the Fed: How the December Statement Changed From November

[I]  ‘I Thought I Was Done For’: Tight Job Market Opens Doors for Ex-Convicts

 

BUSINESS LINE

[I]  Govt to infuse Rs. 41,000 cr more into PSBs; seeks Parliament nod

[I]  Expert panel to look into ‘angel tax’ issue faced by start-ups

[I]  Karnataka, Maharashtra hit badly by drought; four States too reeling

[I]  States may have to do a tightrope walking in providing relief, say experts

[I]  Lending to be hit, NPAs to go up

[I]  CBDT to tighten monitoring of donations to trusts

[I]  Bill to amend Companies Act introduced in Lok Sabha

[I]  RBI to have rule-based dynamic limit for outstanding ECBs at 6.5% of GDP

 

ECONOMIC TIMES

[I]  Farm loan waiver may give banks Rs 1.5 lakh crore headache

[I]  Dollar slips towards a 10-day low on growth concerns

[I]  Rupee's year-end rally heralds a brighter 2019 as oil slumps

[I]  Deal tally tops $100-bn for India Inc in 2018; M&A buzz may grow louder in new year

[I]  Indian farmers get $9 billion loan relief ahead of elections

[I]  Government announces fresh steps for Start-ups

[I]  Government to put draft e-commerce policy up for wide ranging consultation

[I]  Panel suggests higher sin tax on tobacco, alcohol

[I]  Cap civil services entry age at 27 years: Niti Aayog

 

BUSINESS STANDARD

[I]  No coercive action against start-ups for now to recover tax, says CBDT

[I]  GST Council meeting to consider ease of filing returns, refund processes

[I]  Steel firms face margin dip due to higher input costs, currency fluctuation

[I]  After start-ups, now investors start receiving 'angel tax' notices

[I]  Bank credit increases by 15.07%, deposits by 9.66%, says RBI data

[I]  Lok Sabha passes Consumer Protection Bill to improve ease of doing business

[I]  Govt wants Rs 100 bn interim dividend from RBI for fiscal deficit target

[I]  Defaults on credit cards, loan against properties on the rise, says CIBIL

[I]  EPFO payroll data: 827k new jobs in October; 7.9 million in 14 months

 

MARKETS (07:15 am)

[I]  SGX NIFTY Fut: 10966;  USDINR DGCX: 69.9400;  DJIA Mini: 22972;  FTSE 100 Fut: 6683;  NIKKEI 225 Fut: 20189;  EUR-USD: 1.1453; Crude Oil (WTI): 46.73;  Gold (Spot): 1261

 

Best Regards, ARBIND

21 Dec 2018