BLINDNESS IS BETTER THAN HAVING SIGHT WITHOUT VISION. WISHING AN ENVISIONED WEEKEND.

Macro Economic News 20 Oct 2018

 

The housing market is stumbling through its longest slump in four years, as the divergence between a booming U.S. economy and weakening home sales that many had dismissed as temporary now looks poised to continue. China’s economic expansion slowed to its weakest pace since the financial crisis, as top financial regulators launched an extraordinary coordinated effort to calm jittery investors.

 

FINANCIAL TIMES

[I]  Chinese stocks facing worst month since 2016

[I]  Trump threatens to shut down US-Mexico border in migrant row

[I]  EU seeks to defuse Italy budget tension amid slowdown

[I]  EU orders Poland to halt overhaul of supreme court

[I]  China strikes upbeat note on growth despite slowdown

[I]  Brexit spurs refugees’ descendants to seek German passports

[I]  UK and Spain reach Brexit deal on Gibraltar

 

REUTERS

[I]  RBI objects to payments regulator outside its control

[I]  Fed's Kaplan sees two-three more rate hikes to hit 'neutral' level

[I]  Scientists prepare for expedition to the world's deepest depths

[I]  Russian charged with conspiring to interfere in U.S. congressional elections

[I]  Saudi conference boycott a political threat to economy

[I]  U.S. general says he may not have been the target

[I]  OPEC, allies struggle to fully deliver pledged oil output boost

[I]  China's economic growth hits weakest pace since 2009

[I]  China's regulators rush to rally market confidence, boosting shares

[I]  RBI eases bank lending limits to some non-banking finance firms

 

BLOOMBERG 

[I]  Italy Cut to One Step Above Junk by Moody's in Wake of Bond Rout

[I]  Oil’s Plunge Has Investors Cutting Their Bullish Bets

[I]  What the EU Looks for in the Budgets of Italy and Others

[I]  Saudi Economic Conference Plans to Go On With ‘Updated’ Program

[I]  Fed's Bostic Says Saudi Arabia Situation Poses Geopolitical Risk

 

WALL STREET JOURNAL

[I]  Housing Market Is Faltering and Strong Economy Offers No Cure

[I]  China Growth Slows to 6.5%; Finance Officials Try to Soothe Worried Investors

[I]  Chinese Shares Stabilize as Officials Line Up to Urge Calm

[I]  New ‘Opportunity Zone’ Rules Offer Developers Tax Breaks

 

BUSINESS LINE

[I]  NBFC turmoil roils market sentiments

[I]  Researchers warn Kerala of more landslides

[I]  RBI opens more liquidity taps to lend to NBFCs

[I]  Spot power tariffs in South soar on grid problems

[I]  Restaurants may soon have to declare calorie counts on their menu cards

[I]  Taxpayers can be prosecuted for non-filing of returns even if eligible for a refund: Delhi HC

[I]  Thermal power demand outstrips projections, coal production

 

ECONOMIC TIMES

[I]  Euro falls towards two-month low after EU confronts Italy over budget

[I]  Dollar gains on euro as EC criticizes Italian budget

[I]  How HR heads are leading change

[I]  Onions prices on rise in Delhi wholesale markets

[I]  China trade pact stalls as Trump tariffs feed India backlash

[I]  Government imposes anti-dumping duty on certain steel products from China

[I]  IL&FS crisis may sound death knell for PPP

[I]  SC denies income tax exemption to local authority

[I]  UIDAI tells banks to continue Aadhaar-enabled payments

 

BUSINESS STANDARD

[I]  RBI eases norms for banks to lend more to NBFCs, housing finance companies

[I]  Easier ECB rules: OMCs look to raise $1.4 billion in first tranche

[I]  Foreign exchange reserves see highest fall of $5.1 billion in 7 years

[I]  Economy must adjust to recent rate hikes, eye on inflation needed: RBI MPC

[I]  China to launch 3 artificial moons with mirrors to provide 24-hour sunlight

 

Best Regards, ARBIND

20 Oct 2018

MAY YOU BE BLESSED WITH WALKOVER FROM DARKNESS TO LIGHT. WISHING A DELIGHTFUL TOGETHERNESS.

Macro Economic News 19 Oct 2018

 

China’s economic expansion slowed to its weakest pace since the financial crisis, as top financial regulators launched an extraordinary coordinated effort to calm jittery investors. The number of Americans filing applications for new unemployment benefits fell last week, indicative of a tight labor market in which employers are reluctant to lay off workers. The U.S. Treasury again passed up a formal opportunity to designate China a “currency manipulator,” but singled out the nation’s currency practices as a source of “particular concern.”

 

FINANCIAL TIMES

[I]  Rome rebuked by Brussels for breaking EU budget rules

[I]  Private equity deals fail to keep up pre-crisis success

[I]  German investigation into tax wheeze spreads to Spain’s Santander

[I]  Merkel warns EU and UK against rigid approach to Brexit talks

[I]  Brussels hits back at US exchanges threat

[I]  EU warned against punishing Myanmar by axing trade preferences

[I]  Asia-Europe summit opens with signs of division

 

REUTERS

[I]  China economic growth slumps to weakest since 2009, demand ebbs as trade war bites

[I]  Hindu groups return to Sabarimala temple to block women from entering

[I]  Trump threatens to send military, shut border as migrants head for Mexico

[I]  China economic growth slumps to weakest since 2009, demand ebbs as trade war bites

[I]  RBI allows banks to lend more to some non-banking finance firms

[I]  China able to reach 2018 growth target: stats bureau

[I]  China shares fall as GDP growth slows; regulators pledge support

 

BLOOMBERG 

[I]  China's Economy Slows Amid Darker Outlook at Home and Abroad

[I]  Kiwis Take Flight From New Zealand as Australian Jobs Beckon

[I]  Man Who Bared `Enigma Network' Has New Hong Kong Stock Alert

[I]  China GDP Preview, Fed's Quarles on Hikes, Doctor Love: Eco Day

[I]  It's a Long Way Down for China Stocks Channeling Past Traumas

[I]  The Biggest Companies at Risk as China's Margin Calls Increase

[I]  China's Economy Slows Amid Darker Outlook at Home and Abroad

[I]  Japan's Inflation Creeps Up Again, Fueled by Energy Prices

[I]  Indonesia Corruption Crackdown Adds to Strains on Junk Bonds

 

WALL STREET JOURNAL

[I]  China Growth Slows to 6.5%; Finance Officials Try to Soothe Worried Investors

[I]  U.S. Jobless Claims Dropped Last Week

[I]  U.S. Criticizes China’s Currency Practices, but Doesn’t Add Manipulator Designation

[I]  Quarles Backs Fed’s Gradual Policy Course

[I]  Fed’s Bullard Says It Is Still a Mistake for Central Bank to Project Rate Rises

[I]  Fed Minutes Point to Continued, Gradual Interest-Rate Increases

 

BUSINESS LINE

[I]  Centre may soon come out with comprehensive gold policy

[I]  Countdown for N-E monsoon on as 'low' is forecast over Bay

[I]  Consumer confidence drops sharply in Sept: survey

[I]  Office space leasing rises 15% in Jan-Sept this year: Report ...

[I]  US move to abolish H-4 visas set to impact Indians

[I]  IBC delays are hurting banks, economy

 

ECONOMIC TIMES

[I]  Statistics ministry seeks GST data to improve national accounts

[I]  Tightness in credit market unlikely to impact economic growth, says CLSA

[I]  Southwest monsoon set to withdraw from all parts of country by Saturday

[I]  Consumer confidence drops sharply in September: Survey

[I]  Govt may ban unfit independent directors from holding any board position for five years

[I]  Only registered valuers can do valuation under IBC from February 2019

[I]  US says it could remove India from currency monitoring list

 

BUSINESS STANDARD

[I]  Slowing spends cast shadow on India's IT services industry, says Gartner

[I]  Two global firms to help BBB select, train the right men for top PSB jobs

[I]  With risks developing hydra heads, companies run to cover top brass

[I]  Housing sales unlikely to see major turnaround this festive season

[I]  Deadline for availing GST input tax credit remains October 20: Govt

[I]  Banks can continue with Aadhaar-enabled payment system, says UIDAI

[I]  Indian travellers are breaking away from the traditional routines: Study

[I]  Consumer confidence drops in Sept as worry over savings, investment rises

[I]  Trump admin to propose changes in H-1B visas; move may hit Indian IT cos

 

MARKETS (10:00 am)

[I]  SGX NIFTY Fut: 10367;  USDINR DGCX: 73.8325;  DJIA Mini: 25446;  FTSE 100 Fut: 7023;  NIKKEI 225 Fut: 22427;  EUR-USD: 1.1460; Crude Oil (WTI): 68.82;  Gold (Spot): 1227

 

Best Regards, ARBIND

19 Oct 2018

CELEBRATE TO THE TUNE WITH THE DIVINE POWER ALL AROUND. MAY YOU BE BLESSED WITH EVERYTHING YOU CAN WISH FOR.

Macro Economic News 18 Oct 2018

 

Federal Reserve officials signaled they see a strong economy justifying continued interest-rate increases, minutes of their September policy meeting showed. The U.S. Treasury again passed up a formal opportunity to designate China a “currency manipulator,” but singled out the nation’s currency practices as a source of “particular concern.” The U.S. is boosting the size of a credit line available to Mexico in times of need, part of a largely symbolic display of close ties as the countries prepare to sign a new version of the North American Free Trade Agreement. Home construction fell last month, continuing a weak stretch driven by rising borrowing costs and expensive properties that are out of reach for most Americans.

 

FINANCIAL TIMES

[I]  Negotiators warn Trump-Juncker trade agreement at risk

[I]  Democrats grab fundraising edge in close congressional contests

[I]  US threatens to bar EU banks from exchanges

[I]  US and Turkey seek to avoid rupture with Saudi Arabia

[I]  Spain defends plan to increase taxes and spending

[I]  Indian minister quits following claims of sexual harassment

[I]  China donations claims throw New Zealand politics into turmoil

[I]  China’s growth slowdown puts private sector on the defensive

 

REUTERS

[I]  U.S. government refrains from calling China a currency manipulator

[I]  Trade off: China soybean imports set for biggest drop in 12 years amid tariff conflict

[I]  Singapore revises rules to counter 'shoebox apartment' problem

[I]  More Honduran migrants seek to join U.S.-bound group in Guatemala

[I]  Canada legalises recreational marijuana

[I]  Japan exports fall for first time since 2016 as trade war fears mount

[I]  BOJ's Kuroda offers slightly brighter view on inflation

 

BLOOMBERG 

[I]  What Damage Control Looks Like in Saudi Arabia

[I]  Trump Attacks the Weak Link Powell Can't Ignore in Fed Rate Plan

[I]  China's New Strategy for Curbing the World's Worst Stocks

[I]  Bank of Korea Holds Fire on Rates as Risks to Economy Grow

[I]  Fed Officials Debated Hiking Rates to Restrictive Territory

[I]  Dollar Libor at a 10-Year High Adds to Global Funding Headwinds

[I]  RBNZ Could Be Stacked Like U.S. Supreme Court, Opposition Warns

[I]  Japan's Exports Unexpectedly Fall After Natural Disasters

 

WALL STREET JOURNAL

[I]  Analysis: Pause in 2019 Seems Less Likely

[I]  Fed Minutes Point to Continued, Gradual Interest-Rate Increases

[I]  U.S. Criticizes China’s Currency Practices, but Doesn’t Add Manipulator Designation

[I]  U.S. to Deliver on Threat to End China’s Mail Privilege

[I]  U.S. Boosts Credit Line to Mexico in Gesture of Ties

[I]  U.S. Housing Starts Fell in September

[I]  Brexit Provides Early Proof of Deglobalization’s Costs

 

BUSINESS LINE

[I]  GST: FinMin may not extend deadline to claim input tax credit for 2017-18

[I]  Rising input costs force paint makers to hike prices

[I]  PE/VC investments set to hit record $29 b

[I]  Overloading of vehicles: Penalty will be linked to extent of excess weight

[I]  NBFCs lending against shares of little-known cos under RBI lens

[I]  Ahead of Telangana elections, loan waivers set to hit banks, agri sector

[I]  RBI to provide 2% interest subvention on crop loans

 

ECONOMIC TIMES

[I]  Rupee depreciation double whammy for trade, finds SBI study

[I]  Upturn in investment cycle could last upto 2022-23: Study

[I]  WTO reforms: India against secretariat giving out suggestions

[I]  Composition scheme biz need not file purchase details while filing GST quarterly returns

[I]  Commerce ministry working on new export incentive scheme

[I]  Niti suggests PPP model infra for treatment of non-communicable diseases at district hospitals

 

BUSINESS STANDARD

[I]  Share buyback likely to put additional burden on finances of PSUs

[I]  Stock market falls as NBFC liquidity fears weigh on investor sentiment

[I]  As RBI move opens new doors for fintech players, M-wallets face tough fight

[I]  DoT consults telcos to chart post-Aadhaar road to verify customers

[I]  Housing prices up 5.3% during April-June quarter in 10 major cities: RBI

[I]  Wholesale onion prices surge to 8-month high of Rs 21.5 per kg at Lasalgaon

[I]  Centre looks to set-up own company to promote select rural products

 

MARKETS (10:00 am)

[I]  SGX NIFTY Fut: 10374;  USDINR DGCX: 73.6375;  DJIA Mini: 25650;  FTSE 100 Fut: 7034;  NIKKEI 225 Fut: 22651;  EUR-USD: 1.1498; Crude Oil (WTI): 69.81;  Gold (Spot): 1224

 

Best Regards, ARBIND

18 Oct 2018