MACRO ECONOMIC NEWS

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Macro Economic News 13 Dec 2018

 

Inflation remains muted even though unemployment has fallen to a near 50-year low and economic growth in 2018 was among the fastest in this expansion. The European Central Bank is nearing a landmark decision to wind down its $3 trillion bond-buying program, closing a chapter on a policy the U.S. used to help restore its growth but one that had mixed results in Europe. Almost half of U.S. chief financial officers believe a recession will strike the U.S. economy by the end of 2019, with the tight labor market and growing trade tensions driving economic jitters among corporate America.

 

FINANCIAL TIMES

[I]  Theresa May wins vote of confidence

[I]  Saudi crown prince’s inner circle vulnerable to shake-up

[I]  French budget position not like Italy’s, Brussels says

[I]  Turkey risks US clash over Kurdish militants in Syria

[I]  Draghi set to guide ECB gently through the QE exit

[I]  Hungary tightens control of judiciary with new court system

[I]  US inflation cools in November as energy costs fall

[I]  White House spat signals bumpy road to bipartisanship

[I]  Spain’s mid-sized banks in merger talks

[I]  Central banks ignore climate risks at their peril

 

REUTERS

[I]  RBI to consult with government, focus on bank sector 

[I]  India's industrial output grows 8.1 percent in October 

[I]  November core consumer inflation at 5.7 percent

[I]  Global Markets: Asian shares, sterling up on pause in Brexit, trade fears 

[I]  U.S. yield curve to invert in 2019, recession to follow: Reuters poll

[I]  British PM May survives party confidence vote but Brexit deal still teetering

[I]  Canada warns U.S. not to politicise extradition cases

[I]  A 'very uncivil war': Conservatives on the brink over Brexit 

[I]  November retail inflation falls to 17-month low in boost for Das 

[I]  U.S. consumer prices flat; underlying inflation firm

 

BLOOMBERG 

[I]  Brexit Keeps Bruising the British Housing Market

[I]  China Orders Up to 2 Million Tons of U.S. Soy, Council Says

[I]  Brazil’s President-Elect Questions Paris Climate Deal Again

[I]  Ditching the U.S. Dollar Emerges as a Popular Call for 2019

[I]  National Debt Under Trump Is Surging at Its Fastest Pace Since 2012

[I]  Pound Maintains Advance as U.K.’s May Survives Confidence Vote

[I]  What to Expect From the Philippines’ Rate Decision

[I]  Saudi Politics, Oil and Proxy Wars: Mideast Market Risks in 2019

 

WALL STREET JOURNAL

[I]  U.S. Consumer Prices Flat in November, Posing Dilemma for Fed

[I]  ECB Stimulus’s Mixed Legacy: Economic Success, Political Fiasco

[I]  China Prepares to Increase Access for Foreign Companies

[I]  China Moves to Address U.S. Economic Concerns

[I]  Many U.S. Financial Officers Think a Recession Will Hit Next Year

[I]  The Loneliest Generation: Americans, More Than Ever, Are Aging Alone

[I]  Europe, Japan Trade Deal Will Launch With 600 Million Customers

 

BUSINESS LINE

[I]  Autonomy is important, but so is accountability: Shaktikanta Das

[I]  Mutual funds get SEBI nod for side-pocketing

[I]  Retail inflation contracts to 2.3% in Nov; industrial output zooms to 8.1% in Oct

[I]  UK Govt slammed for U-turn on suspension of ‘golden’ visa scheme for super wealthy

[I]  Govt to raise health spending to 2.5% of GDP by 2025: PM

[I]  India rejects EU’s suggestion not to re-test imported steel

[I]  Heavy rain forecast for TN, South AP coasts this weekend

 

ECONOMIC TIMES

[I]  ISRO to launch comm satellite GSAT-7A on Dec 19

[I]  Sebi makes life easy for MFs, FPIs

[I]  Modi seen forgiving farm loans as he seeks to win back rural voters

[I]  Companies vanishing act on GST invites taxmen

[I]  GST evasion worth Rs 12,000 crore detected between April-November

[I]  FIEO urges new RBI Governor Shaktikanta Das to ensure smooth flow of credit to exporters

[I]  US Commerce Secretary to visit India in February for commercial dialogue

[I]  ADB retains India FY19 growth forecast at 7.3% despite downside risks

 

BUSINESS STANDARD

[I]  Govt planning IPOs for two rail PSUs by March-end to meet divestment target

[I]  RBI board meet on Dec 14 to focus on liquidity in financial system

[I]  Advance rulings system under GST will take time to resolve, says CBIC

[I]  Isro to launch GSAT-7A communication satellite for IAF, Army on Dec 19

[I]  Sugar package purely domestic issue, not distorted global trade: Govt

[I]  Sebi allows segregation of distressed assets by mutual funds

[I]  India's per capita media consumption grows to 4.6 hours/day in 2018: Report

[I]  Bigger VCs in India have shifted focus to later-stage investments: Report

[I]  India to increase public health spending to 2.5% of GDP by 2025: PM

 

MARKETS (07:00 am)

[I]  SGX NIFTY Fut: 10828; USDINR DGCX: 71.9350;  DJIA Mini: 24601;  FTSE 100 Fut: 6874;  NIKKEI 225 Fut: 21724;  EUR-USD: 1.1367; Crude Oil (WTI): 51.39;  Gold (Spot): 1245            

 

Best Regards, ARBIND

13 Dec 2018