MACRO ECONOMIC NEWS

LET THE DIVINE GRACE LEAD THE WAY. WISHING A GRACEFUL DAY AHEAD.

Macro Economic News 07 Dec 2018

 

Federal Reserve officials are considering whether to signal a new wait-and-see mentality after a likely interest-rate increase at their meeting in December, which could slow the pace of rate increases next year. The total net worth of U.S. households rose to $109 trillion during the third quarter of 2018, as higher property and stock prices boosted the wealth of Americans. The U.S. trade deficit reached the highest level in 10 years in October, driven by a bump in imports and falling exports of American-made products.

 

FINANCIAL TIMES

[I]  Oil tumbles as Opec struggles to agree output cut

[I]  Financial services exports to EU face 59% fall

[I]  French PM steps into line of fire as protests escalate

[I]  Germany’s CDU fights over Merkel’s successor

[I]  Traders slash bets on Fed interest rate rises

[I]  Australia passes law to access encrypted messages 

[I]  Switzerland faces stark choice on EU integration deal

[I]  France plans its own tax on big tech groups

[I]  Investors unlikely to rush back into tech sector

 

REUTERS

[I]  India's trade ties with Beijing taking time to ripen

[I]  U.S. finalises duties on certain steel pipe from China, India 

[I]  Japan household spending unexpectedly falls, casts doubt over fourth quarter recovery

[I]  Oil firms on drop in U.S. crude stocks, market awaits OPEC/Russia supply decision

[I]  Oil firms on drop in U.S. crude stocks, market awaits OPEC/Russia supply decision

[I]  Yemen warring sides agree at start of talks to free thousands of prisoners

[I]  Rejecting suggestions of delay, UK PM May's team says Brexit vote will go ahead

[I]  German industry orders rise despite global trade friction

 

BLOOMBERG 

[I]  How to Survive the Trade War If You're an American Firm in Asia

[I]  Reunited, But Does it Feel So Good?: World Economy This Week

[I]  All Around the World, Central Bank Independence Is Under Threat

[I]  Biggest Worry for Traders? They Don't Know Why Stocks Are Moving

[I]  Bitcoin Approaches Lowest Level in More Than One Year

[I]  How China's New Drug-Buying Program Is Causing Pain

[I]  Behind the Market Turmoil Lies Nothing But Excuses

[I]  Record-Breaking Day in Front-End Rates as Fed-Hike Bets Crumble

[I]  Powell Says U.S. Labor Market ‘Very Strong’ by Many Measures

[I]  Fed Showdown, Trump Weaponizes Uncertainty, ECB Errors: Eco Day

[I]  India Growth Forecast Cut by Fitch Amid RBI-Government Spat

 

WALL STREET JOURNAL

[I]  Fed Weighs Wait-And-See Approach on Future Rate Rises

[I]  Fed Chief Powell Draws Congressional Support

[I]  U.S. Household Net Worth Rose by $2.07 Trillion in 3rd Quarter

[I]  What Explains the Trade Deficit Hitting a Decade-High?

[I]  U.S. Private Sector Adds 179,000 Jobs in November

[I]  U.S. Productivity Revised Upward to 2.3% in Third Quarter

[I]  Brexit Stockpiling Frenzy Leaves Firms With Few Warehouses

[I]  Business’s Climate Challenge: Getting Customers to Pay

[I]  Foreign Steel Keeps Flowing Into U.S. Despite Tariffs

 

BUSINESS LINE

[I]  Govt moves to double farm exports by 2022

[I]  1 out of 8 deaths in India due to air pollution

[I]  Centre sweetens NPS for Govt staff

[I]  PE/VC investments in Jan-Nov total $27 b

[I]  Govt prepares Cabinet note to strike down Section 33 (2) of Aadhaar Act

[I]  Centre urges secondary education boards to find ‘common ground’ on evaluation

[I]  At 37%, NBFC-MFIs hold largest share of small loans in rural areas

 

ECONOMIC TIMES

[I]  India's trade ties with Beijing taking time to ripen

[I]  RBI's new math will change how Indians borrow

[I]  OPEC waiting for Russia before deciding how much oil to cut

[I]  With sops promised, wheat acreage to rise despite poor rains

[I]  Iraq keen on resuming tea imports from India

[I]  Bonds at 8-month high on RBI bond purchase hopes, inflation comments

[I]  After banks, insurance companies weigh legal backing for staff

[I]  India's cotton output could drop to the lowest in 9 years

[I]  Pakistan-India trade much below full potential of $37 billion: World Bank

[I]  Ecommerce firms facing glitches in filing 'tax collected at source' details

 

BUSINESS STANDARD

[I]  Banks at 'poverty line' of capital will stay poor: RBI executive director

[I]  Volume growth, earnings prospects for gas distribution firms remain strong

[I]  EU regulator okays Indian seafood exports, satisfied with residue control

[I]  PSU sales power up Centre's divestment kitty, yet public ownership retained

[I]  Centre eyes $60 billion in agriculture exports by 2022 with new policy

[I]  Cabinet okays Power Finance Corp's takeover of Rural Electrification Corp

[I]  Decoded: What is the recent amendment in Mauritius' Income Tax Act?

[I]  Total individual wealth held by Indians to hit Rs 518 trn in 5 yrs: Report

[I]  India to import Iranian crude oil using rupee payment mechanism: Source

[I]  NBFCs raise interest rate between 50 and 200 bps amidst liquidity squeeze

[I]  As NBFCs face a credit crunch, real estate sector is pushed to the brink

 

MARKETS (07:45 am)

[I]  SGX NIFTY Fut: 10685;  USDINR DGCX: 70.7900;  DJIA Mini: 24948;  FTSE 100 Fut: 6704;  NIKKEI 225 Fut: 21510;  EUR-USD: 1.1375; Crude Oil (WTI): 51.25;  Gold (Spot): 1239

 

Best Regards, ARBIND

07 Dec 2018