MACRO ECONOMIC NEWS

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Macro Economic News 14 Dec 2018

 

Most economists view a trade war between the U.S. and China as the biggest threat to the U.S. economy in 2019. Private economists tempered their expectations for the path of interest rates next year in a new Wall Street Journal survey, and many foresee the Federal Reserve cutting rates starting in 2020. The European Central Bank cut its economic growth forecasts Thursday, highlighting the risks confronting Europe’s economy even as it ended its massive four-year stimulus program.

 

FINANCIAL TIMES

[I]  ECB to halt expansion of €2.6tn stimulus programme

[I]  Trump tariffs darken prospects for US solar

[I]  Russia gives nuclear group control of Arctic sea route

[I]  Italy budget U-turn not yet enough, Brussels warns

[I]  EU challenged over business founded by Czech PM

[I]  Sri Lanka’s top court rules dissolution of parliament illegal

 

REUTERS

[I]  Global Markets: Asian shares wobbly, euro steady after ECB ends QE 

[I]  China November steel output hits 7-month low on plunging profits, winter curbs

[I]  China's November retail sales, industrial output growth weakens sharply

[I]  Japan's business mood, capex steady but outlook sours: BOJ tankan

[I]  Oil prices edge up on hopes global supplies will tighten

[I]  EU gives May assurances on Brexit, but cold comfort

[I]  Japan December manufacturing, output expand but export orders contract: flash PMI

[I]  U.S. labor market tightening; inflation pressures muted

[I]  Beijing eases back on 'Made in China 2025' amid trade talks with U.S.

 

BLOOMBERG 

[I]  China's Economy Slowed Again in November

[I]  Bitcoin's Year of Toil Deepens as December Losses Mount

[I]  Soaring House Prices Leave Singapore Millennials Stuck With the Folks

[I]  Markets Are Sending a Worrying Signal About the Australian Economy

[I]  Leveraged Loans Are Sinking, Even as Junk Bonds Find Support

[I]  Housebuilders are Another ‘Brexit Football’ for the Market

[I]  China Plans More U.S. Soybean Purchases Soon

[I]  All Is Not Lost for Poland's Troubled Corporate Bond Market

[I]  China's Economy Slowed Again in November

 

WALL STREET JOURNAL

[I]  Economists See U.S.-China Trade War as Biggest Threat in 2019

[I]  Economists Scale Back Their Projections for Fed Rate Increases

[I]  ECB Cuts Growth Forecasts as It Ends Bond-Buying Program

[I]  Analysis: What Does $3 Trillion Buy in Europe?

[I]  U.S. Jobless Claims Post Largest Weekly Drop Since 2015

[I]  U.S. Budget Deficit Widened to $305 Billion in First Two Months of Fiscal 2019

[I]  China Prepares to Increase Access for Foreign Companies

[I]  Las Vegas Housing Weakness Signals the Slowdown Is Spreading

[I]  New Treasury Rules Extend Tax Relief to Foreign Banks

 

BUSINESS LINE

[I]  PSBs petition new RBI chief to relax NPA resolution norms

[I]  COP24: Americans pledge support for Paris pact, make light of climate-change sceptic Trump

[I]  Uncertainty looms large over online pharmacies following Delhi HC order

[I]  India is not a market, but our main partner: French envoy

[I]  World Bank, Canada, UK to help countries move away from coal

[I]  India’s image is still that of a closed economy, says WEF’s Klaus Schwab

 

ECONOMIC TIMES

[I]  It's raining offers for car buyers this month

[I]  Vegetable oil imports decline 9% in November

[I]  US oil prices inch up amid stockpile drop, signs of easing trade tensions

[I]  Pound holds most gains after PM May survives vote but Brexit still in peril

[I]  Auction for discovered small fields: Deadline to submit bids extended

[I]  West Bengal: Paddy procurement scheme witness 8 time increase

[I]  Inventory pile-up sends potato crashing to Rs 2 a kg

[I]  Government working towards establishing labour code

[I]  For NCLT, it is a race against time for resolution of NPAs

 

BUSINESS STANDARD

[I]  Portfolio reshuffle of four RBI deputy governors likely before April

[I]  PSBs seek easing of loan recast rules in first meet with new RBI Governor

[I]  Brands lost in translation: Lack of good digital content creators a problem

[I]  Consumer goods output gets a durable boost, rises sharply in October

[I]  Carmakers dole out hefty year-end discounts to liquidate unsold stocks

[I]  Operational creditors should get a say, vote in insolvency process: SC

[I]  Construction orders boosted capital goods growth in October

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 10777; USDINR DGCX: 71.6400;  DJIA Mini: 24439;  FTSE 100 Fut: 6819;  NIKKEI 225 Fut: 21439;  EUR-USD: 1.1360; Crude Oil (WTI): 52.35;  Gold (Spot): 1242

 

Best Regards, ARBIND

14 Dec 2018