MACRO ECONOMIC NEWS

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Macro Economic News 04 Dec 2018

 

Jerome Powell’s congressional testimony on the economic outlook has been canceled after lawmakers were unable to reschedule the hearing due to a conflict with ceremonies honoring the late former President George H.W. Bush. Federal Reserve Bank of Minneapolis President Neel Kashkari again made the case to hold off on interest-rate increases, warning that the U.S. central bank could inadvertently push the economy into recession.

 

FINANCIAL TIMES

[I]  Qatar pulls out of Opec as relations with neighbours sour

[I]  Far-right poll breakthrough deepens Spain’s political turmoil

[I]  Italian entrepreneurs resist Rome’s populist government

[I]  South Africa suffers fifth day of power cuts

[I]  Dallas Fed chief urges caution on further rate rises

[I]  US-China trade war: truce shows who holds the upper hand

[I]  Japan’s struggle with a rising China

[I]  The Brexit divide will be politics’ new cold war

 

REUTERS

[I]  U.S., China agree trade war ceasefire after Trump, Xi summit

[I]  U.S. expects immediate action from China on trade commitments

[I]  China's central bank chief says will keep monetary policy flexible

[I]  U.S. lawmakers make final push to win approval of self-driving car bill 

[I]  Strong demand pushes November factory growth to best pace in 2018 

[I]  France and Germany aim to keep digital tax alive with new proposal: source

[I]  World outlook darkens as factory activity slips, orders fall

 

BLOOMBERG 

[I]  OPEC Negotiates Cuts After Saudi-Russia Deal

[I]  Brits Are Being More Cautious With How Much They Spend

[I]  Myriad of Brexit Scenarios to Shock Investors in U.K's Bonds

[I]  Rattled Nerves at Indian Inc. Lead to Boom in Overnight Funds

[I]  The Flattening Yield Curve Just Produced Its First Inversions

[I]  Dollar Dealt a Blow as ‘Buy Everything Else’ Emerges After G-20

[I]  Trade War Truce Offers Temporary Respite for Thai Export Outlook

[I]  Indonesia Looks for Retail Investors to Displace Fickle Funds

 

WALL STREET JOURNAL

[I]  Fed’s Kashkari Still Believes Rate Increases Are a Bad Idea

[I]  U.S. Factory-Sector Growth Accelerated in November

[I]  Bush’s Economic Legacy Provides a Cautionary Tale for Today

[I]  Trump: China to ‘Reduce and Remove’ Tariffs on American Cars

[I]  Fed’s Quarles: Economy Shows Fed Is Doing A Good Job With Monetary Policy

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

[I]  Transcript: WSJ Interview With Minneapolis Fed’s Neel Kashkari

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

 

BUSINESS LINE

[I]  Is costlier petrol/diesel in Delhi defeating the very purpose of cleaner fuels?

[I]  Physical shares: SEBI extends deadline for demat to April 1

[I]  Is shadow banking a serious threat in emerging markets?

[I]  Weak El Nino conditions may develop in the Pacific this winter: IMD

[I]  MSME bodies of South team up to raise issues with Govt

 

ECONOMIC TIMES

[I]  Tax shield gone, life changes for many firms

[I]  Consumers trust private firms more than government with personal data: KPMG

[I]  Australian university to help Indian farmers double income

[I]  CAD may widen to 3% in September quarter on higher crude prices, gold imports: ICRA

[I]  Crisil cuts India growth forecast to 7.4% on weakening global growth

[I]  Over 18.10 lakh registered companies, only 62% active at end of October: Official data

[I]  Strong demand buoys factory growth, PMI rises to 11-month high in November

[I]  E-commerce companies not to collect TCS from suppliers with less than Rs 20 lakh turnover: CBIC

[I]  Government, RBI in talks to allow use of QR code-based 'offline Aadhaar'

 

BUSINESS STANDARD

[I]  Listed companies paid a little less than a third of corporate tax in FY18

[I]  Financial security, privacy on priority list of emerging consumers: Report

[I]  Centre likely to announce international UDAN routes this week

[I]  Rich countries eroding confidence in the Paris Agreement: India and China

[I]  Shift portfolio management operations to subsidiary, RBI tells SBI

[I]  Equity fundraising draws a blank in November for the first time in 5 years

[I]  Industrial commodities rise after US, China call a truce in trade war

[I]  Indian smartphone users to double by 2022 to 829 mn on low prices: Cisco

 

MARKETS (07:45 am)

[I]  SGX NIFTY Fut: 10915;  USDINR DGCX: 70.7500;  DJIA Mini: 25765;  FTSE 100 Fut: 7076;  NIKKEI 225 Fut: 22450;  EUR-USD: 1.1364; Crude Oil (WTI): 53.53;  Gold (Spot): 1236

 

Best Regards, ARBIND

03 Dec 2018