WISH THIS WEEKEND SHOWERS WONDERFUL BLESSINGS. GOOD MORNING.

Macro Economic News 01 Sep 2018

 

The U.S. is finalizing plans to double funding for big infrastructure projects around the world, seeking to counter China’s growing influence. U.S. household confidence rose in late August, and consumers are increasingly referencing job and income security when asked to explain why they are buying vehicles and homes. Trump will spend the weekend studying a hold on federal pay increases for 2019 that he instituted a day earlier.

 

FINANCIAL TIMES

[I]  EU in favour of calling time on daylight saving

[I]  California prepares to impose female quota on company boards

[I]  Have we learnt the lessons of the financial crisis?

[I]  IMF wrestles with history in tackling Argentine peso crisis

[I]  India’s rupee slides to record low against dollar

 

REUTERS

[I]  April-July fiscal deficit at 5.4 trillion rupees

[I]  India gold demand steadies before festivals, China interest ticks up

[I]  Indian stocks set for new highs even though rated expensive: Reuters poll

[I]  North Korea preparing toned-down military parade: analysts

[I]  Bank of Japan's Kuroda: no rate hike 'for an extended time' - paper

[I]  U.S. halts funding to U.N. agency helping Palestinian refugees

[I]  China says will prevent haphazard investment in auto industry

[I]  U.S. to move ahead with Mexico trade pact, keep talking to Canada

 

BLOOMBERG 

[I]  Lula Banned From Brazil Presidential Race by Election Court

[I]  Nafta Lives to Fight Another Day Even as U.S.-Canada Talks Stall

[I]  U.S. Alerts Congress of Mexico Deal, Says Canada Can Join On

[I]  Trump to Skip Asia Summits as Doubts Over U.S. Commitment Linger

[I]  If Fed Policy Is Still Easy, Consumers Aren't Getting the Memo

[I]  Italy Rating Outlook Cut By Fitch on Possible Fiscal Loosening

[I]  Argentina May Be Cut Deeper Into Junk After Peso Plunge, S&P Says

[I]  WTO Head Warns U.S. Exit Would Mean Chaos for American Business

[I]  London Leads Widening U.K. Wealth Gap Since Financial Crisis

[I]  Argentina Is Considering Reinstating Taxes on Crop Exports

 

WALL STREET JOURNAL

[I]  To Counter China, U.S. Looks to Invest Billions More Overseas

[I]  Consumer Sentiment Boosted by Job Optimism

[I]  U.S., Canada Pass Friday Deadline With No Nafta Deal

[I]  Canada Needs Pact More Than Mexico, U.S.

[I]  Trump Says He Will ‘Study’ Federal-Worker Pay

[I]  Core Inflation Hits Fed’s 2% Target as Spending Heats Up

[I]  Atlanta’s Growing Pains Are Getting Worse

[I]  U.S. Consumer Spending Rose 0.4% in July

 

BUSINESS LINE

[I]  With rupee at 71/$, consumers are in for big price shocks

[I]  Four top global submarine-makers shortlisted for Navy’s $8-billion Project-75 programme

[I]  At 8.2%, Q1 GDP growth beats all expectations

[I]  Fiscal deficit crosses 86% of Budget Estimate in four months

[I]  To increase tourist inflows, Govt to roll back e-visa fee

[I]  Stressed assets: Liquidation, sale on piecemeal basis not the right strategy

[I]  Kharif sowing crosses the 100-million-ha mark; rice leads

 

ECONOMIC TIMES

[I]  Banks will work for 5 days in Sept first week

[I]  Rupee at 71: What aided the slide?

[I]  Forex reserve rises $445 million to $401.293 billion

[I]  Kharif crop planting increases as heavy rains raise reservoir levels

[I]  Economy to grow at higher rate in coming quarters: Niti Aayog

[I]  India's GDP grows at 8.2 per cent in 2018-19 Q1

[I]  India's core industries' growth slows down in July

[I]  UIDAI relaxes minimum Aadhaar enrolment targets, related deadlines for banks

 

BUSINESS STANDARD

[I]  India Post Payments Bank launch today: Postmen to deliver banking services

[I]  Law Commission proposes doing away with concept of Hindu Undivided Family

[I]  Downward march: Rupee breaches 71-mark against dollar for first time

[I]  Income tax returns surge 76%, cross 52 million filings before deadline

[I]  Fallout of weak rupee: Contract price revision looms over domestic IT firms

[I]  Eight core sector growth sees a slight bump, dips to 6.6% in July

[I]  India's manufacturing sector rises to a nine-quarter high of 13.1%

[I]  India's gross value added in allied activities, agriculture surges to 5.3%

[I]  Why big players piling into Indian retail may be in for a rude surprise

[I]  Tomato prices fall to Rs 2 per kg; farmers unable to recover transport cost

 

Best Regards, ARBIND

01 Sep 2018

WISHING THIS DAY WITH SPIRIT OF TRUTH BRINGS MEMORABLE MOMENTS. GOOD MORNING.

Macro Economic News 31 Aug 2018

 

A key measure of underlying inflation accelerated last month to the fastest annual clip since 2012, as robust spending by consumers and businesses pushed up prices across the economy. Americans spent all of their income gains and then some in July, suggesting the economy sustained momentum going into the second half of the year. The Commerce Department measured a 16.1% year-over-year gain, the largest in six years. Profits were bolstered by large tax cuts and strong economic growth.

 

FINANCIAL TIMES

[I]  Argentine peso tumbles to new low despite interest rate rise

[I]  Emerging market bond yields head back towards pre-crisis levels

[I]  Australian farmers rethink climate change as drought hits home

[I]  France restructures postal group to protect service

[I]  Argentina is stricken by a crisis of confidence

[I]  EU offers to lift all car tariffs if US reciprocates

[I]  Germany cools on Macron eurozone budget proposal

[I]  Populism is the true legacy of the global financial crisis

 

REUTERS

[I]  India's economy likely grew 7.6 percent

[I]  China's environment ministry warns against monitoring fraud

[I]  China August official factory PMI rises to 51.3, beats expectations

[I]  Decline in Japan factory output raises growth worries

[I]  Canada, U.S. push toward NAFTA deal by Friday

[I]  U.S.-Mexico trade talks may pivot from metals tariffs to quotas

[I]  Chinese regulator to control number of new online video games

[I]  U.S. consumer spending, inflation data point to strong economy

[I]  Factbox: Winners and losers from the new NAFTA deal

[I]  UK consumers defy Brexit blues, but companies fret: surveys

 

BLOOMBERG 

[I]  China Factory Gauge Unexpectedly Rises in August Amid Trade War

[I]  Trump Says Iranian Regime May Collapse Because of His Policies

[I]  Argentina Lifts Rates to World-High, Seeks IMF Aid to Save Peso

[I]  Emerging Markets Tumble as Argentina Struggles to Stop Bleeding

[I]  China Banks Managing $16 Trillion Can't Stop Talking About Risk

[I]  Russian Oil Giants Offer Bright Spot in Economy Hit by Sanctions

[I]  U.K. Business Confidence Slumps as Brexit Tarnishes Outlook

[I]  Record London Rents Lure Overseas Landlords to Housing Market

 

WALL STREET JOURNAL

[I]  Core Inflation Hits Fed’s 2% Target as Spending Heats Up

[I]  U.S. Consumer Spending Rose 0.4% in July

[I]  U.S.-Canada Trade Talks Take On ‘Intense Rhythm’

[I]  Trump’s Nafta Rewrite Holds Promise for Labor Unions

[I]  U.S.-Mexico Trade Pact Faces Scrutiny From Lawmakers at Home

[I]  U.S. Corporate Profits Soared in Second Quarter

[I]  EU Trade Official Proposes Ending All Car Tariffs With U.S.

[I]  Argentina’s Central Bank Lifts Policy Rate to 60%

[I]  U.S. Workers Report Highest Job Satisfaction Since 2005

 

BUSINESS LINE

[I]  Trustees of MF cos have fiduciary duty to investors: Calcutta HC

[I]  ‘India will beat UK to become 5th largest economy next year’

[I]  Steel-makers seen adding 20 mt in 4 years via brownfield route

[I]  Govt signs wage pact with major port workers; grants 10.6% hike

[I]  Postmen to get incentives for doorstep banking services

[I]  India on course to meeting new mobility challenges

 

ECONOMIC TIMES

[I]  India Inc seeks more rural salesmen

[I]  Onion, potato & tomato output drops slightly in 2017-18

[I]  As rupee rains woes, importers run for cover

[I]  Malaysia takes India to WTO's safeguard committee on solar duty

[I]  Indenting firms challenge IGST levy on export services

[I]  40km elevated road among options to link Jewar with IGI

[I]  Public cooperative model need of the hour: RBI director Satish Marathe

[I]  Tough time ahead for India at meet on mega free-trade agreement

 

BUSINESS STANDARD

[I]  E-commerce players become shopping assistants for Indians beyond cities

[I]  Enterprise security costs to touch $1.7 bn as firms face skill shortage

[I]  Decades of policy, regulation mismatch to haunt insolvency in power sector

[I]  Better bond yields in last one year boost short-term paper volume: ICRA

[I]  Microfinance sector registers a growth of around 39% in loan portfolio

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 11713;  USDINR DGCX: 71.2550;  DJIA Mini: 25991;  FTSE 100 Fut: 7467;  NIKKEI 225 Fut: 22803;  EUR-USD: 1.1668; Crude Oil (WTI): 70.24;  Gold (Spot): 1202

Best Regards, ARBIND

31 Aug 2018

WISHING THIS DAY WE WITNESS BLESSINGS EVERYWHERE. GOOD MORNING.

Macro Economic News 30 Aug 2018

 

The Commerce Department measured a 16.1% year-over-year gain, the largest in six years. Profits were bolstered by large tax cuts and strong economic growth. Economic growth was stronger during the second quarter than earlier estimated, although growth in a key measure of U.S. corporate profits moderated from the first quarter. A measure of economic confidence among American households rose in August to its highest level since October 2000.

 

FINANCIAL TIMES

[I]  Federal Reserve debates banks’ capital buffers as markets surge

[I]  Japan’s culture of discrimination saps ‘womenomics’

[I]  Record-setting US stocks ignore yield curve’s red flag

[I]  UK and EU set to miss target of Brexit deal by October

[I]  Israel reaps rewards of unlikely alliance with Vladimir Putin

[I]  IMF to revise Argentina bailout after peso plunge

[I]  Germany hands over skulls of colonial victims to Namibia

[I]  China ramps up charm offensive with Japan

[I]  Germany looks to foreign workers to tackle labour shortage

 

REUTERS

[I]  Indians turned in almost all the currency notes banned in 2016: RBI

[I]  India not guaranteed U.S. sanctions waiver for Russian missiles: official

[I]  India's economy seen growing at steady 7.6 percent pace in April-June: Reuters poll

[I]  Australia flags denying U.S. whistleblower Chelsea Manning entry visa

[I]  Stronger Japan retail sales point to consumer sector momentum

[I]  India expects clarity on Iran oil cut after U.S. meeting - source

[I]  IMF studying Argentina request for early help as peso crashes

[I]  British car output drops annual 11 percent in July

[I]  China faces increased economic risks in second half: state planner

 

BLOOMBERG 

[I]  Hong Kong Unveils List of Professionals It Wants to Lure

[I]  Britons' Essential Spending Eats Up 80 Percent of Incomes

[I]  Emerging-Market Carry Traders Have Their Worst August on Record

[I]  Trump Yuan Trade, Faster U.S. Growth, Argentina Wobbles: Eco Day

[I]  Private Banks Are Starting to Breach the Wall Around China's Wealthy

[I]  Melt-Up on the Mind as U.S. Stock Advance Hits Euphoria

[I]  Emerging-Market Wobbles to Test Whether Asia Really Is Safer

[I]  IMF to Review Timing of Payout for Argentina's Credit Line

 

WALL STREET JOURNAL

[I]  U.S. Corporate Profits Soared in Second Quarter

[I]  Canada Voices Optimism on Nafta Deal

[I]  What the U.S.-Mexico Trade Pact Says

[I]  International Trade Commission Blocks Proposed Newsprint Tariffs

[I]  U.S. GDP Growth Revised Up in Second Quarter

[I]  U.S. Consumer Confidence Surged in August to Near 18-Year High

[I]  Mexico Cites ‘Insurance’ Against U.S. National-Security Tariffs

[I]  U.S. Workers Report Highest Job Satisfaction Since 2005

[I]  SF Fed: Yield Curve Suggests Rising, But Still Low, Risk Of Recession

 

BUSINESS LINE

[I]  Trump allows targeted relief on steel, aluminum quotas: US Commerce

[I]  Apply varnish: RBI’s formula to increase life of banknotes

[I]  MUDRA launches major impact study of loans to SMEs

[I]  Govt e-Marketplace plans expansion

[I]  About 95% homes in South India own TV sets: BARC India

[I]  After bad loans, RBI flags rise in bank frauds too

 

ECONOMIC TIMES

[I]  The way you pay loans could change soon

[I]  Supply risks building, crude oil has potential to hit $80 a barrel

[I]  Rupee Sinks to All-time Low Against $

[I]  Cash still the king. Cash savings highest in a decade

[I]  Brace up for more fake note discovery despite new bills: Study

[I]  Government e-Marketplace aims Rs 40,000cr GMV in FY19

[I]  India remains preferred destination for FDI: RBI

[I]  GDP likely to clock 7.4% growth on pick up in industrial activity, monsoon: RBI

[I]  India may breach 3.3% fiscal deficit target as oil prices rise: Moody's

[I]  RBI squeezing circulation of Rs 2000 currency notes

 

BUSINESS STANDARD

[I]  South-based firms take significant pie of private equity investment

[I]  RBI's transfer of surplus to Centre rises by 63.08% to Rs 500 bn in FY18

[I]  RBI's agenda: To add more gold in foreign currency reserves in 2018-19

[I]  Number of banking outlets in villages drops amid financial inclusion push

[I]  Value of banknotes in circulation increases by 37.7% to Rs 18 bn in FY18

[I]  RBI balance sheet expands by 9.5% in FY18 on rise in foreign investments

 

MARKETS (09:30 am)

[I]  SGX NIFTY Fut: 11677;  USDINR DGCX: 70.9775;  DJIA Mini: 26112;  FTSE 100 Fut: 7545;  NIKKEI 225 Fut: 22865;  EUR-USD: 1.1698; Crude Oil (WTI): 69.69;  Gold (Spot): 1204

Best Regards, ARBIND

30 Aug 2018