MACRO ECONOMIC NEWS

ITS NOT OVER UNTIL ITS OVER. LETS CELEBRATE LOVE IN ALL FORMS. WISHING A LIVELY DAY AHEAD.

Macro Economic News 28 Dec 2018

 

India risks missing its budget deficit target for the current fiscal year. Economists said the government had already started to cut capital spending in an attempt to narrow the gap. The Conference Board’s consumer confidence index for American households fell in December, weighed down by weaker expectations for economic growth and heightened market volatility. The number of U.S. workers filing applications for jobless benefits ticked down last week, a sign that the volatility plunge in stock markets is having little effect on employment.

 

FINANCIAL TIMES

[I]  Saudi Arabia makes sweeping cabinet changes

[I]  Europe’s bank stocks in worst year since eurozone crisis

[I]  US government shutdown set to drag into new year

[I]  Tax cuts leave US on ‘unstable fiscal path’ a year on

[I]  China’s middle class hit by shadow banking defaults

[I]  Labour opposes ‘indicative votes’ for MPs on Brexit

[I]  Russia warns of risk to global antiterrorism efforts

[I]  Global miners tested by shift to low-carbon economy

 

REUTERS

[I]  India to issue draft e-commerce policy in few weeks: government source 

[I]  BOJ at logger-heads on how much yield falls to tolerate: December summary

[I]  Oil prices jump, but oversupply worries persist

[I]  Yen and franc draw safe-haven bid on renewed growth fears

[I]  India risks missing budget gap target for fiscal year, data shows 

[I]  Drop in U.S. consumer confidence stokes fears of economic slowdown

[I]  Japan factory output falls in sign of rising pressure on economy

[I]  China says direct trade talks with U.S. in January, pledges more opening

 

BLOOMBERG 

[I]  Unease Grows at Bank of Japan as Oil Casts Shadow on Prices

[I]  U.S. Trade Goals, Fed Should Slow Hikes, China Slowdown: Eco Day

[I]  U.S. Leveraged Loan Fund Outflows Rose to Fresh Record High

[I]  Fed Says Texas Job Growth Will Take Hit If the Oil Rout Drags On

[I]  Biggest Stock Reversal Since 2010 Rings of Bear Market Bounce

[I]  China Has the World's Worst Stock Market With $2.3 Trillion Loss

[I]  December Early Indicators Show China Slowed for a Seventh Month

[I]  Taiwan's Overbanked Market Is Trying to Consolidate. Again

[I]  U.S. Coal Mining Reaches 16-Month High

 

WALL STREET JOURNAL

[I]  U.S. Consumer Confidence Fades in December

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

[I]  Markets Are Already Volatile. A Long Shutdown Could Make It Worse.

[I]  Partial Government Shutdown Likely to Stretch Into January

[I]  To Beat the Trade War, Companies Get Creative Breaking the Rules

[I]  Home-Price Growth Kept Pace in October

 

BUSINESS LINE

[I]  Fiscal deficit hits 114% of Budget estimate in first 8 months of FY19

[I]  Farm-loan waiver: With banks demanding repayment, States face a hard toil ahead

[I]  ‘New e-commerce policy will ensure level playing field’

[I]  FDI in non-conventional energy sector hits $3.2 b in 4 years

[I]  ‘Adoption of AI, IoT and blockchain to grow in 2019’

[I]  India’s two-wheeler industry gears up for the next wave of change

 

ECONOMIC TIMES

[I]  Dollar holds firm on Wall St surge, upbeat economic data

[I]  7th tranche of electoral bonds sale to kick off from January 1: FinMin

[I]  High CEO salaries and hikes vs average employee salary sparks debates

[I]  Animal spirits stirring as India moves past cash-crunch bump

[I]  All vehicles to come fitted with high security number plates from April 1

 

BUSINESS STANDARD

[I]  New draft policy on e-commerce to fix loopholes, set general rules of biz

[I]  Govt plans financial package for farmers; step could cost over Rs 600 bn

[I]  India's auto sector may attract $8-bn investments by 2023: Govt

[I]  India's exports are steadily rising, but import bill hurts much more

[I]  Volatile growth, cooling inflation: Economy gave mixed signals in 2018

[I]  Liquidity crisis: RBI governor Shaktikanta Das calls on pvt sector bankers

[I]  China's industrial profits suffer first y-o-y fall in 3 years: Report

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 10873;  USDINR DGCX: 70.3000;  DJIA Mini: 23142;  FTSE 100 Fut: 6595;  NIKKEI 225 Fut: 19982;  EUR-USD: 1.1460; Crude Oil (WTI): 45.68;  Gold (Spot): 1278

 

Best Regards, ARBIND

28 Dec 2018