CHEATING IS A CHOICE, NOT A MISTAKE. WISH YOU CHEAT A DAY FOR YOURSELF.

Macro Economic News 03 Nov 2018

 

Robust hiring and wage gains last month leave the Federal Reserve all but certain to raise interest rates in December and on course to continue gradually lifting them next year. The U.S. imported a record amount in September, while the trade deficit with China rose to its highest level, despite Trump’s efforts to close the trade gap. Fed Chairman Jerome Powell has reasons for optimism that the rosy U.S. jobs picture can go on indefinitely, Greg Ip writes. Trump administration’s plan to block Iranian oil exports begins Monday, as it grants waivers allowing eight countries to temporarily import Iranian oil.

 

FINANCIAL TIMES

[I]  US wages grow at fastest pace since 2009

[I]  US says 8 nations to receive waivers on importing Iranian oil

[I]  Brazil’s new finance minister eyes ‘Pinochet-style’ fix for economy

[I]  The global hunt to tax Big Tech

[I]  Russia vows to help Iran counter US oil sanctions

[I]  Hawkish European capitals lobby to beef up eurozone bailout fund

 

REUTERS

[I]  Modi unveils aid for small enterprises as elections near

[I]  RBI to help shadow banks refinance debt as default worries loom

[I]  U.S. allows eight importers to keep buying Iran oil for now

[I]  China promises Pakistan support as Khan tells of 'very difficult' economy

[I]  Italy’s budget dispute with EU is likely to escalate

[I]  EU, Germany, UK and France say they want to protect European firms doing legitimate business with Iran

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

[I]  Global Economy: Europe focuses on growth, Fed to follow mid-terms

 

BLOOMBERG 

[I]  Trump Says U.S. Open to New Iran Deal as Sanctions Set to Return

[I]  Trump Risks Backlash in Zeal for Deal to End China Trade War

[I]  Investors Have Plenty to Worry About as Market Clouds Gather

[I]  Brexit Silence Can’t Hide Hints That a Deal Is Getting Closer

[I]  Prime-Age Participation Is Picking Up, Creating Puzzle for Fed

[I]  Carney Says BOE Not Bluffing on No-Deal Brexit Rate Hike Warning

[I]  Trump Claims He’s Making the Economy Great Again. Is He?

[I]  U.S. Manufacturing Forges Own Path Amid Global Slowdown

[I]  These U.S. Industries Hired Most – and Least – in October

[I]  Italian Banks Not Worst for a Change, European Stress Test Shows

[I]  How Europe's Biggest Banks Fared in Toughest Stress Test

 

WALL STREET JOURNAL

[I]  Hiring Accelerates as Wages Strengthen

[I]  Fed Will Likely Raise Rates After Strong Jobs Report

[I]  U.S. Goods Imports Hit New Record

[I]  How Long Can the Great Jobs Picture Continue? The Fed Thinks Indefinitely

[I]  As New Iran Sanctions Loom, U.S. Aims to Plug Gaps

[I]  5 Things to Know About New Sanctions on Iran

 

BUSINESS LINE

[I]  Sparks fly again in fresh FinMin-RBI skirmish

[I]  Relaxing capital norms can hit banks’ credibility: RBI official

[I]  Ease of Doing Business: Positive impact ‘has not percolated to realty sector’

[I]  Can US shale replace the traditional oil? It seems not

[I]  ‘Aadhaar is for govt services, should not be used for absolutely everything’

[I]  On Day 2, N-E monsoon covers the Peninsula

 

ECONOMIC TIMES

[I]  RBI tweaks norms to help shadow banks as default worries loom

[I]  American dream just got tougher for techies

[I]  US curbs looming, India reduces Iran oil imports by 30%

[I]  Indian firms upbeat on local & global opportunities: Survey

[I]  Indian consumer sentiment sees marginal rise in October: Report

[I]  Doubling women workforce can drive GDP up: NITI Aayog CEO Amitabh Kant

[I]  Government fears NBFC defaults without liquidity lifeline: Report

[I]  IMF says monitoring situation in India; bats for RBI's independence

 

BUSINESS STANDARD

[I]  Missing in action: The mystery around short-term capital gains tax data

[I]  Early Diwali for MSME sector: Modi unveils a dozen measures ahead of polls

[I]  Rupee, bonds recover sharply, stocks get boost on soft oil, US-China talks

[I]  US allows India, 7 other nations to buy oil from Iran even after sanctions

[I]  Robust GST collections in October raise fiscal deficit concerns

[I]  Liquidity crisis: Banks get RBI nod to raise credit to NBFC bonds

[I]  Genuine defaulter a fallacy, says RBI deputy governor Vishwanathan

[I]  Cross-border capital flows source of financial fragility: Raghuram Rajan

[I]  As govt, RBI spar, IMF wades into row backing independence of central banks

 

Best Regards, ARBIND

03 Nov 2018

SMILE, BREATHE AND LIVE THE MOMENT. WISH A LIVELY DAY TODAY.

Macro Economic News 02 Nov 2018

 

American factory activity decelerated in October, while an underlying gauge of activity in factories that make metal products contracted for the first time in about two years. 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.

 

FINANCIAL TIMES

[I]  France and Italy dangle juiciest EU tax breaks for Brexit bankers

[I]  US-China military tension heightens over Taiwan

[I]  Scientists launch $4.7bn project to read DNA of all life on Earth

[I]  ‘Junk news’ still rising, study finds, as US midterms near

[I]  US investors buckle up after bumper earnings season

[I]  Britain faces a bumpy road ahead at the WTO

 

REUTERS

[I]  Treading carefully, Japan's nuclear industry makes a comeback

[I]  U.S. voters to decide $76 billion of bonds, taxation limits

[I]  Europe's top banks in EU stress test spotlight

[I]  Saudi Arabia hosts rare visit of U.S. evangelical Christian figures

[I]  Euro rebound still on cards but conviction starting to waver: Reuters poll

[I]  U.S. labor market tightening; manufacturing slowing

[I]  Bank of England hints at faster hikes, but says Brexit options wide open

[I]  U.S. productivity growth slows in the third quarter

 

BLOOMBERG 

[I]  A Synchronized Slowdown Is Looming: World Economy This Week

[I]  Iran Sanctions Kick in, Bringing Biggest Oil Disruption in Years

[I]  Economic Arms Race, Fresh Japan Stimulus, Shorting Yuan: Eco Day

[I]  Asia's Most Aggressive Rate Hikers Have More Work Ahead

[I]  China's Stock Market Is Sending a Scary Signal About the Economy

 

WALL STREET JOURNAL

[I]  Worker-Productivity Gains Coming Up Short in Stronger Economy

[I]  Factory-Sector Growth Retreated in October. Tariffs Could Be to Blame.

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

[I]  Taxpayers Can Put More Into Retirement Accounts in 2019, IRS Says

[I]  Smaller Banks Await Potential Fed Ally

 

BUSINESS LINE

[I]  India hopes for positive news from US on Iran oil

[I]  Auto sales on low gear in October

[I]  Cabinet approves ordinance to amend Companies Act

[I]  Consumer durables buyers yet to see GST rate-cut benefits: Survey

[I]  Higher fuel cost, currency losses may push domestic airlines deeper into the red: Crisil

[I]  Rabi crops may face weather risk

 

ECONOMIC TIMES

[I]  US takes another tough trade stance, India hit

[I]  Private firms will soon be making weapons

[I]  SC allows 5 more documents to prove citizenship

[I]  GST collections for October 2018 have crossed Rs. 1 lakh crore

[I]  India may impose anti-dumping duty on a chinese chemical

[I]  Manufacturing sector activity rises in October on robust order flow: PMI

[I]  Cabinet gives nod to ordinance to amend Companies Act

[I]  India, China to undertake joint research on WTO reforms

 

BUSINESS STANDARD

[I]  Manufacturing PMI jumps to 53.1 in October, thank new business orders

[I]  Govt delays implementation of retaliatory tariffs on US goods till Dec 17

[I]  Power sector to attract Rs 11.56 trillion investments in five years

[I]  European Union may widen scope of testing for Indian marine products

[I]  50 Indian items hit as US scraps duty-free privilege on 90 products' import

[I]  Gold demand jumps 10% in Q2, but the festive season may not be that rosy

[I]  'Investors may get an opportunity to buy banks, NBFCs at lower levels'

[I]  No need to pay customs duty on imported gifts valued below Rs 5,000

 

MARKETS (06:45 am)

[I]  SGX NIFTY Fut: 10493;  USDINR DGCX: --;  DJIA Mini: 25303;  FTSE 100 Fut: 7101;  NIKKEI 225 Fut: 21968;  EUR-USD: 1.1400; Crude Oil (WTI): 63.31;  Gold (Spot): 1234

 

Best Regards, ARBIND

02 Nov 2018

EACH MOMENT WE ARE BORN AGAIN; WHAT WE DO NOW IS WHAT MATTERS MOST. WISHING THE EXPERIENCE OF FUN AND FUN OF EXPERIENCE.

Macro Economic News 01 Nov 2018

 

Americans paychecks rose in the past year at the fastest rate in more than a decade, showing a tight labor market is paying dividends for more workers. The White House said it has pledges from companies to create more than 6 million job-training opportunities, part of an initiative to address job market changes and a shortage of qualified workers. The U.S. fell two spots, dropping to eighth place, in the World Bank’s annual rankings of the world’s economies for their ease of doing business, as the American business environment was eclipsed by Norway and the Caucasus nation of Georgia.

 

FINANCIAL TIMES

[I]  Global stocks rebound after worst month since 2012

[I]  US raises pressure on Saudi Arabia with call for Yemen peace talks

[I]  Stand-off between India’s central bank and government worsens

[I]  Tax cuts cast doubt on Erdogan’s promise of fiscal discipline

[I]  China manufacturing gauge points to worsening economic slowdown

[I]  Austria toughens migration stance by rejecting UN pact

[I]  China advances in World Bank’s ease of doing business index

[I]  Fed to ease rules for smaller US banks

[I]  Cost of shipping parcels from China set to increase

 

REUTERS

[I]  RBI independence 'essential': government

[I]  U.S. doesn't want to harm friends, allies with Iran sanctions - Bolton

[I]  China to defend seven yuan per dollar rate, but may find it tough: Reuters poll

[I]  China's factory sector barely grows in October, export orders extend slump: Caixin PMI

[I]  UK, EU agree tentative Brexit deal on financial services: The Times

[I]  Bank of England to stay in "suspended animation" after Halloween meeting

[I]  Euro zone inflation rise vindicates ECB stimulus curb

[I]  China to take more steps to support economy: politburo

[I]  Iran sanctions seen keeping oil above $75, but 2019 demand outlook darkens: poll

 

BLOOMBERG 

[I]  U.K. Banks to Get EU Market Access After Brexit, Times Reports

[I]  China Signals More Stimulus Measures Planned

[I]  Equity and Quant Hedge Funds Hit Hardest by Stock Market Rout

[I]  China's 100,000 Developers Are Bracing for a Giant Shakeout

[I]  Corporate Debt Is Heading for Worst Month Since February's Rout

[I]  U.S Debt Sales Top Crisis-Era Levels as Fiscal Bump Spurs Growth

[I]  BOE Rate-Hike Plans Hamstrung by Brexit: Decision Day Guide

[I]  Home on Ireland's Most Expensive Road to Sell for 19% Discount

[I]  No Relief For Home Sellers as Australia Housing Slide Enters 2nd Year

[I]  China Property Slowdown Expected to Hurt Metals Already Hit by Trade War

 

WALL STREET JOURNAL

[I]  Workers’ Pay Rises at Fastest Rate in a Decade

[I]  White House Says Companies Pledge to Create More Job-Training Opportunities

[I]  U.S. Falls to Eighth in World’s Best Places to Do Business

[I]  Growth Hits 3%; Here’s Why It Is Not Yet Sustainable

[I]  Treasury Department to Increase Size of Debt Auctions

[I]  Private Sector Added 227,000 Jobs in October

[I]  That Big Mac and Coke Now Comes With a Side Order of Inflation

[I]  The High Cost of Rising Tariffs

[I]  Lawmaker Faults Tariff Waivers’ Fairness

[I]  Fed Proposes Looser Rules for Large U.S. Banks

 

BUSINESS LINE

[I]  FinMin calms jittery market with soothing words on RBI ‘autonomy’

[I]  India vaults 23 rungs to grab 77th spot in ‘ease of doing biz’

[I]  Core sector growth slows to 4.3% in Sept

[I]  Financial reporting authority must be strengthened to deal with challenges related to audit firms: Panel

[I]  Centre in deal with 7 thermal firms for 1,900-MW supply

[I]  A 360-degree eye wherever you want it

[I]  Italy all set to get bananas from Tamil Nadu

 

ECONOMIC TIMES

[I]  The govt has a lot to do to clean the mess in financial system

[I]  Though small, sale of digital gold on the rise

[I]  What’s in it for India in $75 billion currency swap pact with Japan

[I]  More distressed Merger & Acquisition deals in pipeline: Report

[I]  Core sector growth slows down to 4-month low of 4.3 per cent in September

[I]  Industry choice vital to benefit from India growth story

[I]  India will need USD 4.5 trillion till 2040 for infra development: Amitabh Kant

[I]  India needs to create 100 mn new job opportunities in next decade: Report

 

BUSINESS STANDARD

[I]  Once a hot favourite, mid-sized sedans grapple with shrinking sales

[I]  Companies turn to consumer durables market in their quest for growth

[I]  India is not a 'tariff king', says World Bank official on Trump's remarks

[I]  Plea seeking bad loan details not treated as 'information' under RTI: PMO

[I]  More on winning friends and influencing people

[I]  Vehicle tracking devices, emergency buttons mandatory for public transport

[I]  China factory growth lowest since 2016 on slowing domestic, external demand

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 10422;  USDINR DGCX: 74.2950;  DJIA Mini: 25155;  FTSE 100 Fut: 7077;  NIKKEI 225 Fut: 21750;  EUR-USD: 1.1342; Crude Oil (WTI): 65.13;  Gold (Spot): 1217

 

Best Regards, ARBIND

01 Nov 2018