WE ARE GRATEFUL FOR ALL THE ABUNDANCE LIFE SHOWERS ON US. WISHING A THANKFUL WEEKEND AHEAD.

Macro Economic News 10 Nov 2018

 

The economic outlook for consumers remained strong in early November as their income expectations rose—according to the University of Michigan consumer sentiment survey—suggesting Americans could increase their spending heading into the important holiday retail season. A gauge of U.S. business prices surged in October, but the increase was likely a temporary bulge driven by companies preparing for Black Friday sales events later this month.

 

FINANCIAL TIMES

[I]  Rome’s bet on dramatic rise in state benefits draws Brussels ire

[I]  Shift in authority over US Russia probe raises questions

[I]  UK scientists build world’s first quantum compass

[I]  UK agriculture companies beef up ahead of Brexit

[I]  Lasting peace came about through Nato and the US

 

REUTERS

[I]  India clears sale of "enemy shares" held by people who moved to Pakistan

[I]  U.S. presses China to halt militarization of South China Sea

[I]  U.S. could halt refuelling of Saudi-led coalition aircraft: officials

[I]  Investors focus on retailers as wages rise

[I]  Global Economy: Just a growth wobble or the beginning of the end?

[I]  Energy, services fuel jump in U.S. producer prices

 

BLOOMBERG 

[I]  Oil Short-Sellers Make a Comeback as OPEC Moves to Center Stage

[I]  Hedge Funds Brace for Worst After a Terrible October

[I]  China’s Central Bank Ready to Tackle ‘Profound’ Economic Changes

[I]  Almost Half of Big U.S. Banks Are Failing to Satisfy Fed Supervisors

[I]  Mexico's Next President Is Creating More Volatility Than Trump

[I]  Fed Banking Czar Quarles Boldly Goes Public: He's a Trekkie

 

WALL STREET JOURNAL

[I]  Consumers Poised to Pick Up Spending Heading Into Holiday Season

[I]  U.S. Producer Prices Surged in October

[I]  Democratic Win Sets Up Clash Over Trump Tax Cuts

[I]  Democrats’ House Victory Complicates Passage of New Nafta, Trade Deals

[I]  Top U.S., China Officials Discuss Trade, North Korea, South China Sea

[I]  Navarro Blasts China, Wall Street ‘Globalists’

[I]  Fed Holds Rates Steady, Signals More Rate Increases Ahead

 

BUSINESS LINE

[I]  FinMin digs in, wants RBI surplus norms defined

[I]  Passenger vehicle sales edge up in October after falling 3 months in a row

[I]  India, Colombia oppose proposed lowering of pesticide limits by EU

[I]  RBI should not give in to Centre’s pressure to part with surplus reserves: Economist

[I]  Faulty e-seals for locking containers put exporters in a tizzy

[I]  Equity funds continue to see inflows despite volatile October

[I]  Centre exhausts a third of recap funds on just 5 PSBs so far

[I]  NPA issue may be over for most banks: CARE Ratings

[I]  Bank credit grows 14.6%

 

ECONOMIC TIMES

[I]  10 out of 15 newly-listed firms trade below IPO price this fiscal

[I]  Oil prices down 20% in a month as fundamentals weaken

[I]  Gold edges down as Fed's interest rate view strengthens dollar

[I]  Reservoir levels in Gujarat, Maharashtra 13% lower than the decade's average: CWC

[I]  Paddy purchase for food security may fall 8%

[I]  Cashew exports may fall to 25-year low

[I]  Govt not seeking Rs 3.6 lakh crore from RBI: DEA Secy

 

BUSINESS STANDARD

[I]  Indian airlines look to cross China 'wall', but may land in soup over fares

[I]  Centre says not asking RBI for money, only wants it to be less risk-averse

[I]  Car sales buck falling trend, rise 1.55% at 284,000 units in October

[I]  Hypertension drug recall by USFDA shot in the arm for some drug majors

[I]  Make in Odisha 2.0: State eyes Rs 3-trn investments, woos Japanese firms

[I]  US, China resume top level talks to explore way forward on trade disputes

 

Best Regards, ARBIND

10 Nov 2018

Life is light and light is life. Taking it lightly is a choice. Wishing transcendence to light.

Macro Economic News 09 Nov 2018

 

The Federal Reserve held short-term interest rates steady and offered a mostly upbeat assessment of the economy’s performance, suggesting another rate increase is likely at its next meeting. The number of Americans filing applications for new unemployment benefits fell last week, the latest sign of a historically tight labor market. The White House is facing a heated trade battle with Congress after Democrats retook the House, posing a significant challenge to Trump’s deal with Mexico and Canada.

 

FINANCIAL TIMES

[I]  Strong US economy puts Fed on track for December rate rise

[I]  Awakening of Spain’s far-right fringe unsettles mainstream parties

[I]  Data brokers and credit scorers accused of GDPR breaches

[I]  Brussels warns Italy of 3% deficit breach in 2020

[I]  Germany’s Manfred Weber wins vote to lead Europe’s centre-right

[I]  US arms sales to foreign governments rise by a third

[I]  China exports to US grow despite Trump’s tariffs

[I]  US agrees on talks to remove Sudan from terrorism list

[I]  Banks race to make money on trade finance platforms

 

REUTERS

[I]  North Korea postponed talks with U.S. because not ready - Haley

[I]  Fed leaves rates unchanged, says U.S. economy strong

[I]  China's producer inflation slows again in October on ebbing domestic demand

[I]  U.S., Mexico, Canada ministers to sign trade pact Nov. 30, official says

[I]  Oil prices down 20 percent in a month as fundamentals weaken

[I]  U.S. accuses China accused of violating bilateral anti-hacking agreement

[I]  U.S. imposes new sanctions on Russia for Crimea, investments

[I]  U.S. weekly jobless claims fall slightly in latest week

[I]  Japan machinery orders hit by worst-ever slump in Sept, raise capex doubts

 

BLOOMBERG 

[I]  Checking China's Market Pulse After State Stabilizes Stocks

[I]  Fed Holds Rates Unchanged Ahead of Expected December Hike

[I]  Buy ‘Cheap’ Yen Before Its Big Awakening in 2019, SocGen Says

[I]  Wall Street Muni-Bond Bankers Need Work. Voters Gave Them Plenty

[I]  El Nino Could Give China a Trade War Boost

[I]  Quants Are Facing a Crisis of Confidence

[I]  Saudi Think Tank Studying Hypothetical World Without OPEC

 

WALL STREET JOURNAL

[I]  Fed Holds Rates Steady, Signals More Rate Increases Ahead

[I]  Parsing the Fed: How the November Statement Changed From September

[I]  U.S. Jobless Claims Edged Lower Last Week

[I]  Democrats’ House Victory Complicates Passage of Trade Deals

[I]  ECB President Calls on Eurozone Nations to Cut Debt

[I]  Job Openings Outnumbered the Unemployed by More Than One Million

[I]  U.S.-China Trade Tensions on Display at Shanghai Expo

[I]  Mexican Inflation Slowed Modestly in October

[I]  More Factories Crop Up Closer to Customers

 

BUSINESS LINE

[I]  China agrees to import raw sugar from India

[I]  Drought-like conditions persist in many States

[I]  Finance Ministry may give e-commerce firms more time to deposit collected tax

[I]  To shore up divestment proceeds, Cabinet clears sale of ‘enemy shares’

[I]  GST refunds: FinMin promises speedy disbursal, says over 90% of claims cleared

[I]  Steel, Commerce Ministries differ on challenging WTO panel ruling

[I]  Karnataka renews NMDC mine lease for 20 years

[I]  ‘Financial sector woes biggest threat to economy’s growth over next few years’

 

ECONOMIC TIMES

[I]  Sugar exports from India to China to begin soon: Government

[I]  Why farmers still continue to burn stubble in Punjab, Haryana

[I]  NBFC crisis poses more growth headwinds: Report

[I]  Study finds unemployment rate at 6.9%, a 2-year high

[I]  India's economic growth to slow to 7.3% in 2019: Moody's

[I]  Illicit products adversely affecting Indian industry: Report

 

BUSINESS STANDARD

[I]  Green shoots of liquidity for NBFCs, HFCs in commercial paper market

[I]  Hunting for jobs? India Inc FY18 hiring slowest in 3 yrs, more pain ahead

[I]  Liquidity crisis: India likely to lose 'largest diamond processor' title

[I]  India-Japan trade dispute: Policymakers concerned over WTO verdict

[I]  Why sitting in bumper-to-bumper traffic is becoming more of a headache

[I]  RBI circular to send 100 more firms to NCLT; SC to hear cases from Tuesday

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 10582;  USDINR DGCX: 72.7750;  DJIA Mini: 26154;  FTSE 100 Fut: 7097;  NIKKEI 225 Fut: 22338;  EUR-USD: 1.1355; Crude Oil (WTI): 60.45;  Gold (Spot): 1220

 

Best Regards, ARBIND

09 Nov 2018

LET THE LIGHT SET A, NEW BEGINNING OF A NEW ERA OF YOUR LIFE.  WISHING A HAPPY NEW YEAR TO YOU AND EVERYONE AROUND YOU.

Macro Economic News 08 Nov 2018

 

Unfilled jobs in the U.S. exceeded the number of unemployed Americans by more than one million as the summer came to a close, a sign it is increasingly difficult for employers to find workers. Facing one of the tightest labor markets in the U.S., Foxconn has been trying to tap Chinese engineers through internal transfers to supplement staffing for its planned Wisconsin plant, according to people familiar with the matter. Former Treasury Secretary Henry Paulson concludes that U.S. engagement with China is failing and an “economic Iron Curtain” may soon descend between the two economic superpowers.

 

FINANCIAL TIMES

[I]  US elections: Trump calls for collaboration with Democrats

[I]  Merkel’s favoured successor declares new chapter

[I]  France vows to lead Europe in defying US on Iran sanctions

[I]  Taxing times: How Germany’s fraud probe is spreading

[I]  Spain to force banks to pay mortgage stamp duties

[I]  The dollar can defend its global reserve role against EU and China

[I]  Business today brings many risks upon itself

 

REUTERS

[I]  Higher prices, lending curbs dim Diwali festival for Indian retailers

[I]  U.S. says China, India unfairly subsidized, dumped welded pipe

[I]  Oil prices stable as talk of OPEC output cuts supports, but soaring U.S. production drags

[I]  Post-election Wall Street surge leads Asia higher, dollar off lows

[I]  BOJ debated room for future tweaks to easy policy in October

[I]  Australia's banking regulator flags higher capital requirements

[I]  U.S., China should ensure G20 talks go well: senior Chinese diplomat

[I]  With eye on chancellery, Merkel protege wants new era for Germany

[I]  Japan machinery orders hit by worst-ever slump in September, raise capex doubts

[I]  BOJ policymaker signals chance of future rate hike to ease bank strains

[I]  Pakistan to begin talks with IMF over yet another bailout

[I]  German industry output edges up on strong building sector

 

BLOOMBERG 

[I]  U.K. Worker Shortage Intensifies as Starting Salaries Climb

[I]  Brexit Batters U.K. Housing as RICS Index Worst in Six Years

[I]  China Has More Distressed Corporate Debt Than All of EM Combined

[I]  Bond Traders Are ‘Back to a Flattening Curve’ With Focus on Fed

[I]  American Voters Just Sent a Surprising Message About the Trade War

[I]  Big China Brokers Seek to Raise Capital as Default Risks Linger

[I]  Japan Leaves No Stone Unturned as It Prepares for Sales-Tax Blow

[I]  Only Locals Are Buying Into Brazil's Record-Breaking Rally

 

WALL STREET JOURNAL

[I]  Job Openings Outnumbered the Unemployed by More Than One Million

[I]  How an Analysis of Basque Terrorism Helps Economists Understand Brexit

[I]  Henry Paulson Delivers a Sobering Message on U.S.-China Relations

[I]  After Iran Sanctions, U.S. Faces a Huge Task: Compliance

[I]  Service-Sector Activity Cools Slightly in October

[I]  U.S.-China Trade Tensions on Display at Shanghai Expo

[I]  Democratic House Threatens Trump’s Business Agenda

[I]  More Factories Crop Up Closer to Customers

 

BUSINESS LINE

[I]  After locking horns with the Centre, RBI looking for middle ground on many issues

[I]  ‘Rising imports, coal shortage are key challenges for the aluminium sector’

[I]  Decline in overburden removal may pull down coal output

[I]  UK Parliamentary group calls for post-study work visa for international students

[I]  Softening of American sanctions on Iran bodes well for India on oil front

 

ECONOMIC TIMES

[I]  View: Lower interest rate encouraging investments may not always hold true

[I]  India's safeguard duty move on steel goods inconsistent with certain global trade norms: WTO panel

[I]  Reserve Bank of India plans payments ombudsman

[I]  View: India on right track to reach the top 50 in Ease of Doing Business Index

[I]  RBI board shouldn't dictate terms to management: Raghuram Rajan

 

BUSINESS STANDARD

[I]  Diwali brings light of hope to Noida's ghost towers as buyers come back

[I]  Two years after getting hit by demonetisation, MSMEs continue to limp

[I]  MFIs working on Rs 5-bn loan pool for sale to banks to ease liquidity

[I]  Actively managed funds underperformed indices in year to June 2018: Report

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 10684;  USDINR DGCX: 72.4850;  DJIA Mini: 26150;  FTSE 100 Fut: 7127;  NIKKEI 225 Fut: 22545;  EUR-USD: 1.1432; Crude Oil (WTI): 61.74;  Gold (Spot): 1226

 

Best Regards, ARBIND

08 Nov 2018