MAY WE GET THE VIGOR TO LIVE THE TRUTH, WE KNOW IT ENOUGH. HAPPY WEEKEND.

Macro Economic News 08 Sep 2018

 

Strong hiring and a pickup in wage growth last month are likely to reinforce the Federal Reserve’s plan to continue gradually raising interest rates as the U.S. economy enters its 10th year of expansion. Nonfarm payrolls rose by 201,000, while the unemployment rate was unchanged at 3.9%. President Trump said tariffs on another $267 billion in Chinese goods are ready to go and could be rolled out on short notice, reinforcing earlier threats and signaling no end in sight for the growing trade dispute.

 

FINANCIAL TIMES

[I]  US wages grow at fastest pace in nine years

[I]  Super-prime houses auctioned off with no reserve

[I]  Turkey’s call for Syria ceasefire rebuffed by Putin

[I]  US consumers set for first big hit from Trump’s China tariffs

[I]  Distillers raise glass to future of English whisky

[I]  Economic fairness is a bipartisan challenge

 

REUTERS

[I]  Strong U.S. sales could ease profit worries into 2019

[I]  Unrest intensifies in Iraq as Iranian consulate and oil facility stormed

[I]  Canada's Freeland sees 'very good progress' in NAFTA trade talks

[I]  Trump ups ante on China, threatens duties on nearly all its imports

[I]  Global Economy: A decade after Lehman, Europe remains on economic crutches

[I]  U.S. job growth surges; annual wage gain largest since 2009

[I]  Nepal says China to allow access to ports, ending Indian monopoly on transit

 

BLOOMBERG 

[I]  Hedge Funds Defy Emerging Market Selloff With Bullish Crude Bets Growing

[I]  Trump Signals He's Ready to Go All-In Against China on Tariffs

[I]  Canadian Economy Loses 51,600 Jobs, Led by Plunge in Ontario

[I]  Rental Glut Sends Chill Through the Hottest U.S. Housing Markets

[I]  Jump in Yields Hits Real Estate, Homebuilder, Utilities Stocks

 

WALL STREET JOURNAL

[I]  Strong Economy Drove Wages Higher in August as Hiring Heats Up

[I]  August Jobs Report: The Numbers

[I]  Jobs Report Bolsters Fed in Its Gradual Rate Increases

[I]  Trump Preparing Tariffs on Further $267 Billion in Chinese Imports

[I]  Chances Fade for U.S.-China Trade Deal

[I]  Layoffs Reach a Half-Century Low

 

BUSINESS LINE

[I]  PMO to vet agri export policy before it is taken to Cabinet

[I]  Electricity Act amendments propose stiff penalties for PPA violations

[I]  Top automakers gear up for eco-drive

[I]  Mobility is the next frontier in the fight against climate change, says Prime Minister

[I]  Artificial Intelligence, data analytics to drive safety on Indian roads

[I]  Kharif crop coverage exceeds last year’s 1,040 lakh hectares

[I]  Rain may push into Rajasthan, delay monsoon withdrawal

 

ECONOMIC TIMES

[I]  2 GST slabs? Top taxman says it's possible

[I]  India can save Rs 1.2L cr by switching to e-bikes

[I]  Manmohan attacks Modi for his govt's failures

[I]  Opec, non-Opec panel to discuss sharing oil-output boost

[I]  Oilmeals exports jump 21% during April-August

[I]  Government procures 38 mn tonnes rice so far in 2017-18; exceeds target

[I]  Total government liabilities rise to Rs 79.8 lakh crore in Q1: Finance Ministry report

[I]  India's current account deficit at 2.4% of GDP in April-June

[I]  RBI tweak norms for exchange of torn currency

[I]  Centre planning to cut GST slabs to two from the present five, says top tax official

 

BUSINESS STANDARD

[I]  Social media on autopilot: Top four firms running without a head in India

[I]  Late southwest monsoon revival fuels hope of bumper kharif harvest

[I]  When Wall Street rules: The real culprits of the global financial crisis

[I]  Brokerages call for $30-35 billion NRI bonds to strengthen rupee

[I]  Non-resident Indian offshore fund managers seek relief from Sebi

[I]  Mutual fund assets surpass Rs 25 trillion; Rs 4.6 trillion added in 1 year

 

Best Regards, ARBIND

08 Sep 2018

WISHING A FABULOUS FRIDAY FREEING THE FANTASTIC TIME FOR WEEKEND. WISHING A GOOD DAY AHEAD.

Macro Economic News 07 Sep 2018

 

About 17 million members of Generation Z are now adults and starting to enter the U.S. workforce, and employers haven’t seen a generation like this since the Great Depression. They are sober, industrious and driven by money. They are also socially awkward and timid about taking the reins. The number of Americans filing applications for new unemployment benefits fell at the end of August to a nearly five-decade low, as managers face difficulties finding qualified employees.

 

FINANCIAL TIMES

[I]  US accuses North Korea over global cyber crime wave

[I]  South Africa’s central bank defiant on emerging market pressures

[I]  Kosovo land-swap proposal triggers Balkan unease

[I]  US paves way for sales of arms to India with security pact

[I]  Japan earthquake buries homes and triggers week-long power cuts

[I]  US shale boom begins to cool

 

REUTERS

[I]  U.S. says not seeking to punish India for its Russia arms purchases

[I]  U.S., India seal military communications pact, plan more exercises

[I]  Japan household spending rebounds as wages rise, trade woes cloud outlook

[I]  Japan ministries seek record $930 billion budget for fiscal 2019: source

[I]  U.S.-Canada trade talks grind on, but 'final' issues unresolved

[I]  Global trade war threatens to derail modest euro zone growth: Reuters poll

[I]  Thousands laid off as India pushes biggest tax reform

[I]  IMF aims for quick conclusion to Argentina talks, peso climbs

 

BLOOMBERG 

[I]  Emerging Stocks Fall Into Bear Market; More Pain Expected

[I]  What Happened This Week in the World Economy and What It Means

[I]  The Australian Dollar Is Acting Like an Emerging-Market Currency

[I]  Fed in Worse Shape to Combat Crisis Than 10 Years Ago, G-30 Says

[I]  Draghi Is Pressing Ahead With Rate Hike in 2019 Despite Risks

[I]  Bank of Canada Debated Whether to Accelerate Rate Hikes

 

WALL STREET JOURNAL

[I]  Gen Z Is Coming to Your Office. Get Ready to Adapt

[I]  Five Things to Watch in the August Jobs Report

[I]  U.S. Worker Productivity Rose in Spring at Best Pace Since 2015

[I]  Layoffs Reach a Half-Century Low

[I]  Private Sector Adds 163,000 New Jobs in August

[I]  Service-Sector Businesses Are Getting Increasingly Jittery About Tariffs

[I]  House Republicans Push to Lock In Tax Cuts Past 2025

[I]  Fed’s Williams Says Yield Curve Not Deciding Factor in Setting Rates

 

BUSINESS LINE

[I]  ‘GST revenue may be Rs. 90,000 cr short in FY19’

[I]  Green vehicles will not need permits: Gadkari

[I]  No ‘permit road-bumps’ for alternative fuel vehicles, promises Gadkari

[I]  Kharif output seen dipping marginally on erratic rain

[I]  Surprise deep depression dumps heavy rain over eastern parts

[I]  Water storage level of key reservoirs up 6.2%

 

ECONOMIC TIMES

[I]  Penalty scare for 23 banks over Aadhaar targets

[I]  Indians keen on buying property in London: Report

[I]  Rupee slips to new low, yield at 4-year high amid EM panic

[I]  Amid concerns, govt may rework disclosure requirements by companies

[I]  Companies push ‘we care’ branding, offer allowance for fertility treatment

[I]  India to surpass Brazil as top sugar producer, eyes bigger export share

[I]  GST annual return forms to help check tax evasion: experts

[I]  Suresh Prabhu says India, US must boost bilateral trade to $500-600 billion

[I]  Monetary limit for filing cases in DRT doubled to Rs 20 lakh

[I]  Niti Aayog urges states to formulate EV policy

 

BUSINESS STANDARD

[I]  Parliamentary panel for raising PSB chiefs' retirement age to 70

[I]  Rupee breaches 72 mark against dollar for the first time; RBI intervenes

[I]  If privacy is dead, some argue people should sell their own data

[I]  Amid rising competition, Edelweiss ARC gets ready for next wave of NPAs

[I]  India's retail market likely to touch Rs 80 trillion in 2020, says report

[I]  New cash management for ATM norms to cost Rs 120 billion in five years

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 11569;  USDINR DGCX: 72.2075;  DJIA Mini: 25995;  FTSE 100 Fut: 7330;  NIKKEI 225 Fut: 22280;  EUR-USD: 1.1623; Crude Oil (WTI): 67.85;  Gold (Spot): 1202

 

Best Regards, ARBIND

07 Sep 2018

GOD HAS A PLAN, TRUST IT, LIVE IT, ENJOY IT. WISHING A GOOD DAY AHEAD.

Macro Economic News 06 Sep 2018

 

The U.S. trade deficit posted its biggest monthly increase in almost three and a half years in July, as tax cuts and higher federal spending goosed up domestic demand while a cooling economy overseas hampered exports. A Trump official said the trade partners will bridge their differences to bring Ottawa into a three-way trade pact with the U.S. and Mexico, while Canadian Prime Minister Justin Trudeau said he can't relent on certain points.

 

FINANCIAL TIMES

[I]  Emerging market stocks descend into bear market

[I]  Italy heads for budget showdown with EU

[I]  Business leaders warn of lack of progress on emissions

[I]  Australia’s property boom ends as credit squeeze begins

[I]  High house prices in US stifle banks’ mortgage units

 

REUTERS

[I]  U.S. dollar to keep currency crown this year, but not next: Reuters poll

[I]  U.S. compares Nicaragua to Syria, warns of potential regional crisis

[I]  GST effect: Hundreds of thousands laid off despite growth

[I]  BOJ's Kataoka calls for more stimulus, criticizes July steps

[I]  India to surpass Brazil as top sugar producer, eyes bigger export share

 

BLOOMBERG 

[I]  Risks of Cybersecurity Breaches and Data Hacks Won't Go Away, Singapore Says

[I]  China's $29 Trillion Ball of Money Rolls to a Long-Ignored Haven

[I]  Bitcoin Falls Off a Cliff Again as Cryptocurrency Slump Deepens

[I]  The 15,000-Rupiah World of 2018 Looks Quite Different From 1998

[I]  Sinking Indian Rupee Remains Hostage to Oil

[I]  U.K. Proposes Seasonal Worker Trial for Non-EU Farm Laborers

 

WALL STREET JOURNAL

[I]  U.S. Trade Deficit Posted Biggest Increase in July Since 2015

[I]  Canada Posts Biggest Monthly Trade Surplus With U.S. in Nearly a Decade

[I]  U.S., Canada Face Tough Issues as They Resume Nafta Talks

[I]  Wages Growing Faster Than You Think, White House Says

[I]  Bank of Canada Holds Benchmark Rate Steady

[I]  U.S. Factory Sector Clocks Strongest Growth in 14 Years

 

BUSINESS LINE

[I]  New ARC may take a load of power NPAs

[I]  SEBI to review FPI ownership norms

[I]  Services PMI drops to 51.5 in Aug

[I]  ‘Govt making favourable policies for auto sector’

[I]  Mauritius ‘for ensuring there’s no perception of wrongdoings’

[I]  Traditional insurance products benefit from higher G-Sec yields

 

ECONOMIC TIMES

[I]  How is oil going to behave? Iran, US and China hold clue

[I]  Rupee woes to deepen as India braces for external headwinds

[I]  India, US to begin trade talks today

[I]  India's August services sector activity falls from 21-month peak: PMI

[I]  Central Information Commission joins privacy debate, lists objections

[I]  Cabinet doubles Jan Dhan accounts overdraft cap to Rs 10,000 from 5,000: Arun Jaitley

[I]  Finance Ministry simplifies GST refund claim process for businesses

[I]  Revised Companies Act to simplify penalties for minor violations

 

BUSINESS STANDARD

[I]  Currency, equities' woes deepen as rupee closes at 71.76 against dollar

[I]  Govt makes Jan Dhan Yojana scheme open-ended with more incentives

[I]  PMI falls to 51.5 as new businesses grow slowly, export orders fall

[I]  Power sector NPAs: A crisis too near

[I]  Sebi may soon pave the way for startup listings under separate segment

[I]  Risky permissions shared with apps can pose a threat to your data privacy

[I]  Real estate firms set to make smart homes that do your everyday tasks

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 11514;  USDINR DGCX: 72.1750;  DJIA Mini: 25986;  FTSE 100 Fut: 7383;  NIKKEI 225 Fut: 22480;  EUR-USD: 1.1635; Crude Oil (WTI): 68.64;  Gold (Spot): 1198

 

Best Regards, ARBIND

06 Sep 2018