LIFE IS CELEBRATION, ESPECIALLY THIS WEEKEND. WISHING A CELEBRATED WEEKEND.

Macro Economic News 15 Sep 2018

 

Americans are feeling better about the economy in part because they have a rosier view of the future, a factor that could support spending and output growth later this year. American consumers reined in their spending in August, taking a breather after very strong sales growth in July. U.S. industrial output rose for the third month in a row in August, largely because of strong utility and motor-vehicle production.

 

FINANCIAL TIMES

[I]  EU seeks to bypass US sanctions on Iran with trade finance tool

[I]  India curbs imports to cut current account deficit and bolster rupee

[I]  Venezuela looks to China for help but gets few promises

[I]  Britain’s economy needs a smooth Brexit deal

[I]  Demand for choice will drive UK’s pensions revolution

 

REUTERS

[I]  Arun Jaitley outlines measures to stem rupee fall

[I]  Growth in Chinese home prices accelerates to two-year high

[I]  Australia's new treasurer to get tough on financial regulator

[I]  G20 trade ministers say WTO reform 'urgent' as new Trump tariffs loom

[I]  UK Labour warns big banks must never again be masters of the economy

[I]  Millions of Americans still trapped in debt-logged homes

[I]  Brexit endgame nears as series of summits begins

[I]  Fed faces 'quite challenging' period keeping recovery on track: Yellen

[I]  U.S. auto sector output boosts industrial production

 

BLOOMBERG 

[I]  Keeping Skies Safe in the Age of the Drones

[I]  G-20 Discussed ‘Urgent Need’ to Improve WTO

[I]  Trump Wants $200 Billion in China Tariffs Despite Talks, Sources Say

[I]  Pimco's CEO Sees 55% Chance of Slowdown Over Next Two Years

[I]  Crude Caps Weekly Advance as Iran Sanctions Bite Into Supply

[I]  Debt Burdens Are Eating Up a Growing Share of Canadian Incomes

[I]  Fed May Face Hard Choices to Keep Control of Overnight Rates

 

WALL STREET JOURNAL

[I]  U.S. Consumers Brighten, Upbeat About the Future

[I]  U.S. Retail Sales Rose Slightly in August

[I]  Industrial Production Rose in August

[I]  NLRB Pushes to Rescind Obama-Era Union Ruling

[I]  Most Economists See Tariff Effects on U.S. Economy as Limited

[I]  Economists Split Over Path of Interest Rates in 2019

[I]  House Republicans Move to Extend Individuals’ Tax Cuts

[I]  Fed’s Barkin Warns Tariffs Threaten Business Confidence

[I]  U.S. Budget Deficit Widened in August, Treasury Says

[I]  Yellen Recommends Fed Formalize ‘Lower-for-Longer’ Guidance

 

BUSINESS LINE

[I]  India has third-highest number of family firms

[I]  FinMin reinstates levy on imported solar modules

[I]  Maharashtra tops in covering ‘non-loanee’ farmers under PM’s crop insurance scheme

[I]  Competition panel’s diagnostic toolkit to curb bid-rigging in public procurement

[I]  WPI inflation dips to 4.53% in Aug

[I]  Low-pressure may form over Bay in next 4-5 days

[I]  India climbs one spot to 130 in UNDP’s Human Development Index

[I]  High-level panel discusses ‘quick solutions’ for power sector NPAs

[I]  RBI to buy G-Secs for Rs. 10,000 crore via open market ops on September 19

 

ECONOMIC TIMES

[I]  Govt brings in 5 big fixes to get widening CAD under control

[I]  The changing image of Indian students

[I]  Gold leans on safe haven charm, even demand is lending a hand

[I]  Forex reserve falls below $400 billion mark

[I]  Bangladesh seeks wider investments from India

[I]  Finance ministry reinstates safeguard duty on solar panels and modules

[I]  India ranks 130 in UN's human development index

[I]  August trade deficit narrows to $17.39 billion from $18.02 billion in July

[I]  Wholesale inflation cools in August as food prices soften

[I]  August WPI inflation at 4.53% vs 5.09% in July

 

BUSINESS STANDARD

[I]  Insolvency process: Banks to seek RBI clarity on SC's status quo order

[I]  Consumer durables firms, GST body continue to spar over profiteering

[I]  Govt urges states to raise power purchase; plans to revive stalled projects

[I]  Mid-sized IT firms join larger peers in recruitment drive, step up hiring

[I]  AIF investments swell by 90% to Rs 750 billion in June quarter

[I]  Regulatory whip for scheme offering high returns in a short span of time

 

Best Regards, ARBIND

15 Sep 2018

TRUST IN GOD MAKES THE PATH SMOOTHER AND SHINIER. WISHING A BRIGHT DAY AHEAD.

Macro Economic News 14 Sep 2018

 

Tariffs have yet to meaningfully affect the U.S. economy because of the relatively small amounts imposed so far, but trade tensions remain the biggest risk to the economic outlook, according to forecasters surveyed by The Wall Street Journal. The monthly U.S. budget deficit nearly doubled in August compared with a year earlier, as government spending swelled and revenues declined.

 

FINANCIAL TIMES

[I]  Calls grow for international action in Venezuela

[I]  Bullish US stocks leave rest of the world trailing

[I]  Turkish central bank raises interest rates to stem currency crisis

[I]  Diamonds rock for millennials and Generation Z

[I]  A weaker British pound makes no economic sense

 

REUTERS

[I]  Indian rupee, bonds rise on lower crude prices overnight, receding trade tensions

[I]  Women in management at Japan firms still a rarity: Reuters poll

[I]  Global Markets: Trade talk plans boost Asian shares, but China shaky

[I]  Japan PM Abe says BOJ's easy policy shouldn't continue forever

[I]  Japan bank lobby gives lukewarm welcome to BOJ's July move

[I]  China industrial output tops forecasts, but investment growth sinks to new low

[I]  Australian PM's own party defies him in selection of by-election candidate

[I]  Japan government more bullish on capex, eyes on U.S.-China trade row

 

BLOOMBERG 

[I]  China's Investment Slowdown Worsens as Industry, Retail Hold Up

[I]  North Korea Can Speak With Seoul 24 Hours a Day at New Office

[I]  Warren Says Financial Giants Should Be Brought Down to Size

[I]  China Lets Expats Trade Stocks, But They're in No Mood to Buy

[I]  BOJ Has Chosen ‘Forward Guidance’ for Global Markets

[I]  The New Venezuelan Currency Is Just Three Weeks Old and Inflation's Already 100%

[I]  Traders Ease Back on Short Yuan Bets to Gauge U.S.-China Dispute

[I]  China Revamps $12 Trillion Bond Market to Lure Foreign Investors

[I]  China's Investment Slowdown Worsens as Industry, Retail Hold Up

[I]  China Debt Dilemma, U.S. Inflation, Turkey Rate Shock: Eco Day

 

WALL STREET JOURNAL

[I]  Most Economists See Tariff Effects on U.S. Economy as Limited

[I]  Economists Split Over Path of Interest Rates in 2019

[I]  U.S. Budget Deficit Widened in August, Treasury Says

[I]  The Tricky Part of the Fed’s Next Rate Increases

[I]  Jobless Claims Remain at Half-Century Low

[I]  Consumer Prices Moderate After Run-Up Earlier in 2018

 

BUSINESS LINE

[I]  Global oil demand to top 100 mn bpd, but outlook may cloud

[I]  Asian shares rise as China, US weigh fresh talks

[I]  Dollar sags after weak US data

[I]  SEBI may consider proposal to allow foreign entities in commodity markets

[I]  Govt, RBI will do everything to arrest rupee fall: Economic Affairs Secretary

[I]  How digital disbursal boosts rural loans of microfinance 

 

ECONOMIC TIMES

[I]  Dollar sags after weak US data, Turkey rate hike lifts emerging currencies

[I]  No government approval needed for compensation of top executives

[I]  August records investments worth USD 1.6 billion across 50 deals; exits at USD 830 million: Report

[I]  Farmers earning as much as Rs 3 lakh per acre by cultivating herbs

[I]  Poultry consumption in VIIP countries outperform global growth: Report

[I]  No state to be penalised for doing well:15th Finance Commission

[I]  Shareholders ask Leasing & Financial Services to raise funds by selling assets, non-core biz

[I]  Ecommerce panel discusses key problems at its first meet

[I]  Be a service provider: Income tax department has to stop being judge, jury and executioner

 

BUSINESS STANDARD

[I]  E-commerce players to pay up to 2% tax collected at source from October

[I]  India's private equity big boys are taking controlling stake in many firms

[I]  It's great time to be a CEO! Compensation outpaces profits, total wage bill

[I]  Travel aggregation to ride-hailing, welcome to India's shared economy

[I]  Artificial Intelligence related jobs on the rise in India, says study

[I]  PSUs cut dividend 2nd time in a decade as cash reserves continue to dwindle

 

MARKETS (09:30 am)

[I]  SGX NIFTY Fut: 11475;  USDINR DGCX: 71.9900;  DJIA Mini: 26193;  FTSE 100 Fut: 7298;  NIKKEI 225 Fut: 23040;  EUR-USD: 1.1690; Crude Oil (WTI): 68.78;  Gold (Spot): 1205

 

Best Regards, ARBIND

14 Sep 2018

LOVE AND FORGIVENESS IS BEGINNING OF SOMETHING BEAUTIFUL IN LIFE. WISHING A BEAUTIFUL DAY AHEAD.

Macro Economic News 13 Sep 2018

 

American incomes rose and poverty declined for the third consecutive year in 2017, according to census figures released Wednesday that suggest more Americans are benefiting from the robust economy. A gauge of U.S. business prices in August clocked the first monthly decline in about a year and a half, driven largely by a downturn in trade services prices. Fed governor Lael Brainard said recent tax cuts and government-spending increases have likely created a need for higher interest rates, saying the central bank should continue gradually raising rates for the next year or two.

 

FINANCIAL TIMES

[I]  Oil prices near four-year high as hurricane bears down on US

[I]  Japan’s corporate performance highlights bull case

[I]  Is the ECB still ready to say goodbye to QE?

[I]  EU parliament backs overhaul of digital copyright rules

[I]  US household income grows for third consecutive year

[I]  China steps up social security collection as it cuts corporate taxes

 

REUTERS

[I]  CPI inflation falls below RBI target despite rupee slide

[I]  Bank of England to keep rates steady after August rise

[I]  OPEC sees slower 2019 oil demand growth, warns on economy

[I]  Brazil, Australia to fight any Indian sugar export subsidy

[I]  U.S. incomes rose but inequality widened in 2017 - data

[I]  UK house prices steady, sales weakest in 5 months - RICS

[I]  Australian jobs soar in August, unemployment stays still

[I]  Canada's Freeland won't hold NAFTA talks, says more work needed

[I]  OPEC sees slower 2019 demand growth, warns on economy

 

BLOOMBERG 

[I]  2008 Financial Crisis Isn't Over for Some American Families

[I]  Bernanke Admits Fed Made Mistakes Combating Crisis 10 Years Ago

[I]  Europe Will Make Up a Quarter of Global Wind Power in Five Years

[I]  This German Bank Sees More Consolidation After Merging 19 Times

[I]  ECB May Have Lost Its Enthusiasm for Riskier Corporate Debt

[I]  Wall Street's Alarm on Trade Spreads With Goldman's Bear Warning

[I]  There's an Inflation Crisis Brewing in the Philippines

[I]  Crypto’s 80% Plunge Is Now Worse Than the Dot-Com Crash

 

WALL STREET JOURNAL

[I]  Incomes Rose and Poverty Rate Fell for Third Straight Year, Census Data Show

[I]  Business Prices Declined in August

[I]  U.S. Seeks New Trade Talks With China to Avoid Tariffs

[I]  Economy Grows Moderately, But Trade Fears Rise, Fed’s Beige Book Says

[I]  Fed Should Raise Rates for the Next Year or Two, Brainard Says

[I]  Job Openings Exceed Unemployed Americans Again in July

[I]  U.S. Businesses Ramp Up Lobbying Against Trump’s Tariffs

[I]  China Woos U.S. Companies Again, Curbs Trade Threats

 

BUSINESS LINE

[I]  New umbrella scheme to ensure farmers get remunerative price

[I]  Retail inflation cools to 3.69% in August, IIP grows to 6.6% in July

[I]  G20 talks: India wary of proposals to lower tariffs under garb of promoting value chains

[I]  Central Bank moves tribunal against SEBI order

[I]  ‘Banks staring at haircuts of 60% on stressed debt of Rs. 50,000 cr under ICE’

[I]  RBI urged to allow urban co-op banks to expand

 

ECONOMIC TIMES

[I]  Indian bankers could be sitting on a $12.5 bn ticking time bomb

[I]  India Inc's M&A deal tally slips to 8-month low in August: Report

[I]  Farmers should produce what markets want

[I]  Cabinet may overhaul crop procurement scheme today

[I]  Agri produce may be sold at housing societies soon in Maharashtra

[I]  GDP growth peaking; slowdown ahead: Credit Suisse

[I]  The lessons that India can learn from current market volatilities

[I]  Inflation cools to 10-month low of 3.69% in August

[I]  Exports up 19.21% in August; trade deficit at $17.4 bn

 

BUSINESS STANDARD

[I]  IIP, inflation numbers offer Centre respite amid rupee, fuel tantrums

[I]  Rising fuel, finance cost pushes vehicle ownership cost by 6-7% in a year

[I]  Surgical device manufacturers asked to explain hike in prices of products

[I]  Industrial production grows at 6.6% in July; electronics, pharma shine

[I]  At a 10-month low of 3.69% in Aug, retail inflation below RBI target

 

MARKETS (10:00 am)

[I]  SGX NIFTY Fut: 11435;  USDINR DGCX: 72.0625;  DJIA Mini: 26005;  FTSE 100 Fut: 7308;  NIKKEI 225 Fut: 22818;  EUR-USD: 1.1634; Crude Oil (WTI): 69.89;  Gold (Spot): 1206

 

Best Regards, ARBIND

13 Sep 2018