MACRO ECONOMIC NEWS

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Macro Economic News 06 Dec 2018

 

The Reserve Bank of India kept interest rates unchanged on Wednesday, in a decision that was widely expected as inflation has eased significantly, while it took steps to persuade banks to lend more in order to support an economy that has lost some momentum. Treasury market moves are sending a menacing signal about the economic outlook. An inverted curve is often interpreted as a signal of a looming recession. France became the most heavily taxed of the world’s rich countries in 2017, according to figures published the day after President Emmanuel Macron backed off a fuel-tax increase that enraged much of the nation.

 

FINANCIAL TIMES

[I]  Beijing and US try to rebuild trust in trade ceasefire

[I]  Warning for climate negotiators as carbon emissions hit new high

[I]  May struggles to quell Brexit rebellion as backstop anger grows

[I]  Italian PM willing to ‘tweak’ budget plan to avoid EU sanctions

[I]  Senators prepare to tackle US support for Saudi action in Yemen

[I]  Putin vows to develop new missiles if US scraps nuclear treaty

[I]  India wins extradition of UK businessman over bribery claims

 

REUTERS

[I]  RBI keeps rates on hold, moves to spur lending

[I]  RBI chief draws veil over rift with government

[I]  Bank of Japan will respond as needed to economic risks: Kuroda

[I]  Japan eases conditions for solar power subsidy curbs

[I]  Japan manufacturers' mood down, bodes ill for BOJ survey: Reuters Tankan

[I]  UK economy risks severe damage without orderly Brexit: CBI

[I]  Hoarding for Brexit sparks race for warehouse space in Britain 

[I]  OPEC, Russia move closer to cutting oil output 

[I]  Australia poised to force tech firms to hand over encrypted data

[I]  Dollar's unrivalled surge this year will reverse in 2019: Reuters poll

 

BLOOMBERG 

[I]  Iran-Based Hackers Indicted in March Cyberattack on Atlanta

[I]  U.K. Suspends Visa Program for Super Rich in Crime Crackdown

[I]  OPEC Grasps for Oil-Cuts Deal to Lift Price in Defiance of Trump

[I]  Regulator Tells U.K. Auditors to Do Better on Company Reports

[I]  It’s the Worst Time to Make Money in Markets Since 1972

[I]  The Yield Curve Is Trying to Tell Us Something

[I]  Number of Brazilians Living in Poverty Rises 2 Million in a Year

 

WALL STREET JOURNAL

[I]  China Says There Is ‘Clear Timeline’ on Trade Negotiations

[I]  Flatter Yield Curves Aren’t Always Bad News—but This One Is

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

[I]  Bush’s Trade Legacy on the Line as Trump Seeks to Replace Nafta

[I]  France Tops OECD Table as Most Taxed Country

[I]  Real Time Economics: U.S. Labor Market Is the Best On Record for High-School Dropouts

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

 

BUSINESS LINE

[I]  Garlic prices at 5-year low on supply surge

[I]  EU asks India to drop mandatory quality testing for steel imports

[I]  SBI sees GDP growth slipping below 7% in H2

[I]  Cyber attacks can cost firms over $10 m: report

[I]  Poor planning leaves Bengal farmers with large potato stocks

[I]  Lending rates likely to go up despite RBI holding rates

[I]  External benchmarks for retail loans will lead to higher earnings volatility

[I]  Digital payments: Ombudsman scheme to boost consumer confidence

[I]  RBI relaxes concentration limits for banks lending to NBFCs, HFCs

 

ECONOMIC TIMES

[I]  Four key points that raise questions on back series GDP data

[I]  Tax axe looms large over India's back offices

[I]  More trouble ahead for bruised rupee: Reuters poll

[I]  View: 10-year G-sec yield to trade in 7.3-7.7% range in Q4FY19

[I]  Finance Ministry says RBI's assessment of economy in line with govt's reading

[I]  Strong domestic demand pushes services PMI to four-month high in November

[I]  Slow land reforms posing downside risk for infra projects: Fitch Solutions

[I]  India revives WTO talks on domestic regulation

 

BUSINESS STANDARD

[I]  RBI keeps repo rate unchanged at 6.50%, seeks to prod banks to lend more

[I]  Here's a snapshot of PE activity & deals so far this year

[I]  Real estate developers pin hopes on holidaying NRIs for a Christmas miracle

[I]  Marketing turning cross-functional as customers seek personalised service

[I]  Private equity, venture capital firms strengthen teams after losing talent

[I]  Cabinet likely to clear policy to boost exports of agri commodities

[I]  Here's a quick decoding of the RBI monetary policy review in December

[I]  RBI may continue OMO purchases at current pace till March: Viral Acharya

[I]  RBI monetary policy: The Indian central bank signals a prolonged pause

 

MARKETS (07:45 am)

[I]  SGX NIFTY Fut: 10743;  USDINR DGCX: 70.8075;  DJIA Mini: 24738;  FTSE 100 Fut: 6863;  NIKKEI 225 Fut: 21590;  EUR-USD: 1.1346; Crude Oil (WTI): 52.68;  Gold (Spot): 1240

 

Best Regards, ARBIND

06 Dec 2018