LIVING IS LEARNING TO LOVE ONESELF UNCONDITIONALLY. WISHING A  WEEKEND, FULL OF CELEBRATION.

Macro Economic News 13 Oct 2018

 

Though the central bank has boosted rates—drawing criticism from President Trump—it sees falling unemployment, economic growth and the return of normal inflation as other factors behind the rise. Interest rates are far below historical definitions of normal. Optimistic analysts believe the economy could have years left to run, and that the stock market selloff will prove to be a temporary bout of indigestion. A measure of economic confidence among American households edged down in early October but remained at a high level.

 

FINANCIAL TIMES

[I]  Turkey bows to US pressure and releases pastor Andrew Brunson

[I]  EU emissions rules and China curb car sales

[I]  Theresa May faces cabinet revolt over customs union plan

[I]  Indonesian president warns of global economic dystopia

[I]  Green campaigners defeated in attempt to block UK fracking

[I]  Deal flow bubbles up in coffee sector

 

REUTERS

[I]  China views yuan depreciation not in its interest: Mnuchin

[I]  Australia seeks to ban schools from expelling gay students

[I]  China's central bank says market to play decisive role in yuan exchange rate

[I]  IMF warns trade friction, market turmoil to hurt Asian growth

[I]  Crunch time for Italy, Brexit as leaders convene in Brussels

[I]  India's retail inflation picks up to 3.77 percent in September

[I]  India's September core consumer inflation at around 5.8 percent - analysts

[I]  U.S. import prices increase 0.5 percent on jump in fuel

 

BLOOMBERG 

[I]  Mnuchin Says He's Not Worried China Would Unload Treasuries

[I]  Bankers Fleeing Brexit Can Help Make Luxembourgish Great Again

[I]  Record Exodus From Credit Funds Outpaces Flight From Stocks

[I]  Wall Street Sees Treasuries Yield Curve Flattening Into 2019

[I]  Fed Does Consider Impact of Policy on Emerging Markets: Quarles

[I]  It’s Snowing So Much in Canada That Crops Can’t Get Harvested

 

WALL STREET JOURNAL

[I]  Fed Officials See Strong Economy Justifying Interest Rate Rises

[I]  Heard on the Street: Why Trump’s Fed Bashing Is Encouraging

[I]  Behind Market Turmoil, Potentially Good News

[I]  U.S., China Edge Closer to a Cold War

[I]  U.S. Consumer Sentiment Cooled Slightly in Early October

[I]  U.S. Import Prices Rose in September

[I]  Social Security Benefits to Get 2.8% Boost, Largest Since 2012

[I]  One of the Least Immigrant-Friendly Nations Now Wants Them Long Term

 

BUSINESS LINE

[I]  With Aadhaar nixed, banks seek new KYC norms

[I]  10% ethanol blending with petrol can lower fuel price by Rs. 3/litre: Experts

[I]  Official: Oil from existing strategic reserves cannot be used for commercial purposes

[I]  Experts call for aligning competition law with IBC for faster NPA resolution

[I]  Quality comes to the fore as start-up environment matures, say experts

[I]  Industry sees no immediate solution to call-drops

[I]  MSP no relief to farmers as mandi prices rule lower

 

ECONOMIC TIMES

[I]  US gives India a piece of its mind over Iran

[I]  Forex reserves dip below $400 billion again

[I]  RBI to sell Cash Management Bills raising Rs 15K for Government

[I]  Agronomists strive to contain a brand new American pest

[I]  India, Azerbaijan to take steps to boost bilateral trade

[I]  In the works: Uniform stamp duty for financial instruments

 

BUSINESS STANDARD

[I]  USFDA drug approvals at all-time high; Indian firms get 35-40% of nods

[I]  Drug makers want free hand in pricing and advertising OTC drugs

[I]  Industrial production loses steam, growth at 3-month low of 4.3 % in Aug

[I]  September retail price inflation inches up, stays below RBI's 4% target

 

Best Regards, ARBIND

13 Oct 2018

LET THE LIFE BE LIBERATED AND LIVED LIVELY. WISHING A LOVELY DAY AHEAD.

Macro Economic News 12 Oct 2018

 

Though the central bank has boosted rates—drawing criticism from President Trump—it sees falling unemployment, economic growth and the return of normal inflation as other factors behind the rise. U.S. consumer prices rose only slightly in September, a sign inflationary pressures remain in check despite solid economic growth and low unemployment rate. The number of Americans filing applications for new unemployment benefits rose last week but remains historically low and is consistent with a tight labor market.

 

FINANCIAL TIMES

[I]  UK and Brussels close to agreeing Brexit deal

[I]  IMF readies for further danger signals in emerging markets

[I]  ECB policymakers fear trade war hit on growth

[I]  Global carmakers rattled by stalling China market

[I]  Italian banks feel the strain from bond market sell-off

[I]  Australia’s banks aim to rebuild trust after critical inquiry

[I]  UK banks risk rating downgrades in disorderly Brexit

 

REUTERS

[I]  India to raise import tariffs on electronic and communication items

[I]  Dollar hovers near two-week lows on falling yields, Wall Street losses

[I]  Talks between EU, U.S. don't point to trade war - Germany's Scholz

[I]  Wall Street tumbles again, world equities at one-year low

[I]  RBI changes tack on forex intervention, focuses on forwards market

[I]  U.S. inflation slows in September, weekly jobless claims increase

 

BLOOMBERG 

[I]  Russia Presses Europe to Break With Trump and Help Rebuild Syria

[I]  Australia’s Central Bank Warns of Heightened Trade-War Risk to Economy

[I]  Wall Street Sees Treasuries Yield Curve Flattening Into 2019

[I]  Singapore Tightens Monetary Policy on Steady Growth Outlook

[I]  Trump Roars, Fed Yawns and Markets Bet on Powell's Credibility

[I]  Carney’s BOE Forecasts in Doubt With Brexit Deadline Drawing Closer

 

WALL STREET JOURNAL

[I]  Fed Officials See Strong Economy Justifying Interest Rate Rises

[I]  Consumer Prices Rise 0.1%, Less Than Forecast

[I]  Social Security Benefits to Get 2.8% Boost, Largest Since 2012

[I]  Nafta Rewrite Won’t Boost U.S. Growth, Economists Say

[I]  U.S. Jobless Claims Edge Higher

[I]  Mortgages Fast Approaching 5%, a Fresh Blow to Housing Market

[I]  Economists Increasingly Confident of Fed Rate Hikes

[I]  World Bank Aims to Shame With ‘Human Capital’ Ranking

[I]  For IMF Help, Pakistan Might Have to Disclose Its China Debts

 

BUSINESS LINE

[I]  Centre hikes import duty on key telecom equipment to 20%

[I]  It is difficult for public sector units to compete with private players: Jaitley

[I]  More measures coming to boost rupee, check CAD: Govt

[I]  Quarterly reporting onerous for corporates

[I]  ‘Tightening regulatory norms put pressure on banks’

 

ECONOMIC TIMES

[I]  India bends over backwards to save Re, hikes import duty

[I]  Centre to seek Election Commission’s nod for 40-60% MSP hike for forest items

[I]  Bulk tea growers likely to witness sizeable adverse impact on operating cost

[I]  Suresh Prabhu seeks higher sops to push farm, services exports

[I]  India's manufacturing sector to record robust growth in Q2: Report

[I]  Working group invites stakeholders' views on roadmap for USD 5 trillion economy

[I]  Builders leasing out unsold property face tax burden

[I]  India rejects findings of World Bank report on Human Capital Index

 

BUSINESS STANDARD

[I]  India ranks 115 in World Bank's Human Capital Index; govt dismisses report

[I]  Govt raises import duties up to 20% on telecom equipment, components

[I]  RBI firm on data localisation; 80% of firms to comply by Oct 15 deadline

[I]  Automakers offer discounts, schemes to woo buyers during festive season

[I]  Govt looking to amend FEMA to cut costs associated with remittances

[I]  Free trade agreements not undercutting India's exports to China: Study

[I]  Credit growth may slip to 10% on band-aids in future, warn analysts

[I]  Sharp fall in markets deals blow to govt as PSUs lose Rs 6 trillion

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 10317;  USDINR DGCX: 74.0575;  DJIA Mini: 25358;  FTSE 100 Fut: 6996;  NIKKEI 225 Fut: 22477;  EUR-USD: 1.1605; Crude Oil (WTI): 71.25;  Gold (Spot): 1221

 

Best Regards, ARBIND

12 Oct 2018

TODAY YOU WILL EMBRACE EXCELLENT EXPERIENCE. WISHING A SUPERB DAY AHEAD.

Macro Economic News 11 Oct 2018

 

A gauge of U.S. business prices showed signs of bouncing back in September after a slowdown over the summer. President Trump repeated his frustration over higher short-term interest rates set by the Federal Reserve, but said he hadn’t spoken with Fed Chairman Jerome Powell because he wanted to stay “uninvolved” in monetary policy.

 

FINANCIAL TIMES

[I]  US small-cap stocks stutter on debt concerns

[I]  Scrapping Libor leaves $500bn of bond contracts in limbo

[I]  German coalition hit by fresh spat over diesel ban

[I]  US-Russia tensions threaten nuclear arms curbs, says Moscow

[I]  Taiwan accuses China of threatening international stability

[I]  WTO chief calls on supporters to defend trade body as attacks mount

[I]  Cameroon election dispute pushes country towards crisis

 

REUTERS

[I]  RBI sticking with plan to force payments firms to store data locally: sources

[I]  India cuts jet fuel tax to 11 percent from 14 percent 'in public interest'

[I]  World Bank launches 'human capital' rankings based on health, education

[I]  India inflation likely rose to RBI's four percent target in September

[I]  Employers under pressure to respond to surge in #MeToo allegations

[I]  Trump calls stock sell-off 'a correction,' says Federal Reserve is 'crazy'

[I]  India's September gold imports drop 14 percent on weak rupee: GFMS

[I]  No rebound for India's reeling rupee seen likely in coming year: Reuters poll

 

BLOOMBERG 

[I]  Singapore Central Bank Keeping Close Watch on Property Market

[I]  London Housing Slump Weighs Down National Property Prices

[I]  These Are the Best Countries to Live and Work in — and to Boost Your Salary

[I]  VIX Roils Markets Again With Biggest Jump Since February Rout

[I]  China's Too-Big-to-Fail Financial Companies Keep Getting Bigger

[I]  Philippine Central Bank Is Prepared to Raise Rates Again If Needed

 

WALL STREET JOURNAL

[I]  Business Prices Firmed Up in September

[I]  Emerging Markets Look to Contain Damage

[I]  When Has U.S. Unemployment Typically Been This Low? Wartime

[I]  U.S. Protectionist Stance Spooks Germany’s Economy

[I]  German Economy Is Within Reach of Key Goal

[I]  Eurozone Economic Growth Rate Falls Further Behind U.S.

[I]  Services-Sector Activity Hits Record High. Thank Tariffs, Local Governments

 

BUSINESS LINE

[I]  RBI, NHB, SBI open liquidity tap to boost NBFC lending

[I]  Emission control: Banks wary of funding stressed power plants

[I]  RBI won’t say how much it cost to collect, destroy DeMo notes

[I]  Exporters urge Govt to organise fourth edition of ‘GST refund fortnight’

[I]  Competition panel notifies changes to combination rules

[I]  Draft electronics policy plans sops for rapid hardware manufacture; mulls stable tax regime

 

ECONOMIC TIMES

[I]  How government is stepping up efforts to ease liquidity

[I]  India's debt lower than best emerging market economies: IMF

[I]  Farm exports to trade-war hit China key to India cutting deficit

[I]  RBI sticking with plan to force payments firms to store data locally: Sources

[I]  Draft electronics policy aims $400 billion manufacturing ecosystem turnover by 2025

[I]  Ordinance to alter Companies Act

[I]  Direct taxes code task force to be reconstituted

[I]  No centre-state wall: Officials handling GST can assess all

 

BUSINESS STANDARD

[I]  Logistics woes drive Indian steel mills to buy iron ore overseas

[I]  Need for liquidity set to drive secondary deals in the Indian market

[I]  Plastic products to get 2-3% costlier due to rising oil price, labour costs

[I]  Missed opportunity: Exporters fail to reap benefits of a weaker rupee

[I]  Banks go slow on direct credit disbursals, NBFCs bet on securitisation

[I]  Regulatory checks help fund houses tide over credit and liquidity crises

[I]  Trillions in US net worth vulnerable to recession, says IMF report

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 10233;  USDINR DGCX: 74.5925;  DJIA Mini: 25246;  FTSE 100 Fut: 7024;  NIKKEI 225 Fut: 22636;  EUR-USD: 1.1560; Crude Oil (WTI): 72.13;  Gold (Spot): 1193

 

Best Regards, ARBIND

11 Oct 2018