WE ARE PROTECTED BY A STRONGHOLD ALL AROUND. WISHING A LIGHT HEARTED WEEKEND.

Macro Economic News 01 Dec 2018

 

House Republicans are struggling to advance their package of fixes for last year’s tax overhaul, with just a few legislative days to go until they relinquish the majority. Jerome Powell’s playbook includes making allies outside the Oval Office, never talking politics and sticking to the economy. Federal Reserve officials signaled plans to raise interest rates next month, but they appeared more tentative about the pace of increases after that, minutes of the central bank’s recent policy meeting show.

 

FINANCIAL TIMES

[I]  US, Canada and Mexico sign deal to replace Nafta

[I]  Britain quits military side of Galileo satellite system

[I]  South Korean central bank raises rates for first time in a year

[I]  French companies lead the way on gender diversity

[I]  Eyes down and history books open for a game of Brexit bingo

[I]  Brexit effect ‘limited’ on UK house prices

 

REUTERS

[I]  China looks to boost agricultural exports to India: Xi

[I]  BRICS slam protectionism as China-U.S. spat overshadows G20 talks

[I]  U.S. wants new aviation standard to expand passenger data collection

[I]  China's gene-edited babies cry out to regulators

[I]  WTO paralysed as leaders meet to defuse U.S.-China trade war

[I]  UK business will be able to bring in high-skilled workers post-Brexit - PM May

[I]  Indian gold demand shines as local rates dip; buying steady elsewhere

[I]  Pakistan central bank hikes interest rate to 10 percent on inflation fears

 

BLOOMBERG 

[I]  Next Year's Challenge for Canada's Oil Patch Comes From the Sea

[I]  Romaine Crisis Sends Other Lettuce Prices Surging

[I]  Trump Signs Nafta Replacement, But Hurdles Remain in Congress

[I]  The London Housing Market Is Worse Than It Looks. Here’s Why

[I]  Time to Relax Mortgage Regulations, Canada Home Builders Say

 

WALL STREET JOURNAL

[I]  House GOP Works Against Clock on Tax Bill

[I]  Trump Sets Sights on China After Completing New Nafta

[I]  President Trump Bashes the Fed. This Is How the Fed Chief Responds.

[I]  Fed Minutes Signal December Rate Increase Likely, But Less Certain Path Next Year

[I]  Panel Won’t Meet Deadline on Fix for Multiemployer Pension Plans

 

BUSINESS LINE

[I]  GDP growth slows to 7.1% in Q2

[I]  SEBI extends trading hours for all agri-commodities; to start from 9 am

[I]  Looming drought hits rabi sowing by 32 lakh hectares

[I]  Core industries grow 4.8% in October

[I]  At Rs. 6.48 lakh crore, fiscal deficit crosses full-year target

[I]  India asks China to release raw sugar export quota before Jan

[I]  IoT start-ups have grown ten-fold, says think-tank

 

ECONOMIC TIMES

[I]  Forex reserves drop by $24.02 billion to $400.52 billion in April-September

[I]  Government breaches full-year fiscal deficit target at October-end

[I]  Centre, states apportion Rs 33,000 crore IGST in November

[I]  Government can claim up to Rs 7 tn from RBI's excess capital: Ex-CEA

[I]  India woos investors from US, EU, Japan, others

[I]  Infra growth slows down to 4.8% in October; fertiliser, crude oil decline

[I]  India seeks to ease biggest hurdle for factories with new policy

 

BUSINESS STANDARD

[I]  Govt nudges telcos, airlines to raise rates, shun bitter price wars

[I]  Shipping ministry, DIPP fight over ownership of coastal economic zone plan

[I]  GDP data: Muted growth in major segments in GVA; economists not optimistic

[I]  Relaxed norms likely to hurt NBFCs in long run, banks stand to gain

[I]  April-October fiscal deficit breaches full-year target at Rs 6.24 trillion

[I]  NBFCs remain fastest-growing sector for deployment of bank credit: RBI

[I]  GDP numbers indicate India's farmers are getting little for what they sow

[I]  Tax data shows average person's income grew slower than country's GDP

 

Best Regards, ARBIND

01 Dec 2018

UNIVERSE IS OUR PARTNER; WE GO FROM SUCCESS TO SUCCESS. WISHING THIS DAY YOU CREATE A LARGER LIFE.

Macro Economic News 30 Nov 2018

 

Federal Reserve officials signaled plans to raise interest rates next month, but they appeared more tentative about the pace of increases after that, minutes of the central bank’s recent policy meeting show. The number of Americans filing applications for new unemployment benefits rose last week, but remained at a low level indicative of a tight labor market. American household incomes grew solidly in October, which consumers cheered with higher spending, a sign they could drive economic growth despite concerns about the global economy and U.S. financial markets.

 

FINANCIAL TIMES

[I]  UK and Germany grow wary of Huawei as US turns up pressure

[I]  Donald Trump cancels bilateral talks at G20 with Vladimir Putin

[I]  Germany plans to increase size of armed forces

[I]  Democratic ‘blue wave’ in US midterms finally crests

[I]  South Korea orders reparations over Japan wartime forced labour

[I]  India’s economic statistics bureau drawn into political row

[I]  Australian central bank admits to ‘shortcomings’ in bribery case

 

REUTERS

[I]  Vedanta seeks U.S. oil services consortium for new India blocks

[I]  White House to hold roundtable with tech executives on innovation

[I]  Japan factory output expands most since 2015, but outlook dims

[I]  Bank of Korea lifts rates as expected, seen on hold in 2019

[I]  Japan says no decision yet on whether Abe, Macron will meet at G20

[I]  China factory growth unexpectedly stalls in November: official PMI

[I]  Canada's urban hotspots set for subdued house-price rises in 2019: Reuters poll

[I]  Column: Risks for world economy, markets if U.S. yields hold above 3 percent

[I]  U.S. consumer spending rises strongly, inflation moderates

 

BLOOMBERG 

[I]  China’s Official Manufacturing Gauge Worsens Amid Trade War

[I]  Japan’s Factory Output Jumps in Sign of Recovery in Economy

[I]  Saudi Arabia Faces a Dramatic Choice at OPEC

[I]  China Planning Major Purge of $176 Billion Loan Market

[I]  Bitcoin Becomes a Story of Boom and Bust

[I]  Rising U.S. Jobless Claims Are Starting to Worry Some Economists

[I]  China's Frugal Consumers Squeeze Margins, Hammering Stocks

[I]  Mortgage Spreads Seen Widening More as Demand Dynamic Shifts

[I]  The London Housing Market Is Worse Than It Looks. Here's Why.

 

WALL STREET JOURNAL

[I]  Fed Minutes Signal December Rate Increase Likely, But Less Certain Path Next Year

[I]  ‘Bring Me Tariffs’: How Trump and Xi Arrived at the Brink of a Trade War

[I]  American Retailers Squeeze Chinese Suppliers

[I]  President Trump Bashes the Fed. This Is How the Fed Chief Responds.

[I]  Jobless Claims Increased Last Week

[I]  U.S. Consumers Step Up Spending to Start Fourth Quarter

[I]  Core Inflation Ticked Down in October

[I]  Prized ‘Rare Earth’ Minerals Feel the Scorch of Tariffs

[I]  U.S. Pending Home Sales Fell 2.6% in October

 

BUSINESS LINE

[I]  Rising rupee, falling crude prices bring mojo back to the market

[I]  India-Myanmar-Thailand highway to be completed in next couple of years: Official

[I]  Water shortage hits jeera, coriander sowing in Gujarat; prices head north

[I]  Great weather for tea in the Nilgiris, output up 13 per cent in October

[I]  With new portal, PSBs likely to regain market share in MSME loans: SIDBI

[I]  India should not follow the China model in universal health-insurance plans: Economist

[I]  To help NBFCs hit by liquidity crisis, RBI reduces minimum holding period

[I]  Despite e-com boom, Indians like to go to shops during festivals: Visa

[I]  MSME exports: Govt plans to hike interest equalisation rate

 

ECONOMIC TIMES

[I]  Sebi committee to recommend direct listing of Indian companies on foreign exchanges

[I]  Sugar falls 5.5% on muted domestic and export demand

[I]  Dollar under pressure after Fed's Powell says US rates near neutral

[I]  Rupee breaches 70 level against dollar on dovish remarks from Fed's Powell

[I]  UP govt eases e-procurement norms for small farmers

[I]  RBI's liquidity boost for NBFCs, relaxes asset securitisation norms

[I]  Middle-class laps up home loan subsidies

[I]  Economists say GDP data suggests slower potential growth

[I]  Indian economy likely to grow at 7-7.4 per cent in FY19: NCAER

[I]  SBI blames adverse policies for missing private capital in infrastructure

 

BUSINESS STANDARD

[I]  Rupee settles below 70 after 3 months, oil prices recover after early loss

[I]  Top cities to see 8-year high in office absorption in 2019, says JLL

[I]  Microfinance industry may come up with Rs 8-bn pool of saleable securities

[I]  Bombay HC seeks govt view on RBI plea against CIC's wilful defaulters order

[I]  Sebi earmarks Rs 5 bn for upgrading surveillance to tackle mkt manipulators

[I]  NBFC liquidity, not governance, to be focus of next RBI board meet

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 10948;  USDINR DGCX: 69.8775;  DJIA Mini: 25359;  FTSE 100 Fut: 7032;  NIKKEI 225 Fut: 22301;  EUR-USD: 1.1395; Crude Oil (WTI): 51.50;  Gold (Spot): 1225

 

Best Regards, ARBIND

30 Nov 2018

TRUST THE PLAN EVEN IF YOU CAN’T SEE IT ALL; EVERYTHING WILL UNFOLD SOON. WISHING THIS DAY MAKES YOU FACE THE FUTURE PEACEFULLY.

Macro Economic News 29 Nov 2018

 

Federal Reserve Chairman Jerome Powell said that interest rates are “just below” a broad range of Fed officials’ estimates of a level considered neutral, a setting designed to neither speed nor slow growth. Overseas profit growth at American firms is slowing, a new sign of how the faltering global economy is reverberating back to the U.S. Rising mortgage rates, higher material and labor prices, as well as a tax law passed in 2017 contributed to the lackluster performance in the segment of the housing market that helps drive economic growth through construction work.

 

FINANCIAL TIMES

[I]  Stocks rally after Powell says US interest rates nearing ‘neutral’

[I]  Argentines feel the squeeze as living standards fall

[I]  Cutting carbon emissions to zero will cost billions, says EU

[I]  Romania minister calls for curbs on EU free movement

[I]  Theresa May concedes any Brexit will leave UK worse off

[I]  Fed flags hard Brexit and Italian debt as near-term risks to US 

[I]  US antitrust enforcement falls to slowest rate since 1970s

[I]  Russia and Japan push to resolve Kuril Islands dispute

 

REUTERS

[I]  China signs pact with India to inspect fish meal, fish oil imports

[I]  Australian firms boost spending plans, third-quarter investment eases

[I]  Bull run finale for global stocks not far off now - Reuters poll

[I]  Japan retail sales rise most in 10 months, signal economic rebound

[I]  Government to run power play at next RBI board meeting: sources

[I]  Trump administration to examine tools to raise U.S. tariffs on Chinese autos

[I]  Fed's Powell: Financial risks 'moderate' despite vulnerabilities

[I]  British banks withstand disorderly Brexit in Bank of England test

[I]  U.S. third-quarter growth unrevised, headwinds increasing

 

BLOOMBERG 

[I]  Hong Kong Has ‘Got it Wrong’ on Public Housing, Developer Says

[I]  Resilient Russian Oil Companies Give Putin Leverage With OPEC

[I]  Less Than Half of U.S. Factories Expect Tariff Price Impact

[I]  U.K. Consumer Confidence Wanes to Year-Low on Brexit Worry

[I]  Don't Count on the Fed Saving Stocks Again

[I]  Asia's Growth Is Shifting Down a Gear

[I]  Bank of Korea Is Poised to Rejoin Ranks of Asia's Rate Hikers

[I]  The Outlook for the World’s Fastest-Growing Economy Is Muted

 

WALL STREET JOURNAL

[I]  ‘Bring Me Tariffs’: How Trump and Xi Arrived at the Brink of a Trade War

[I]  American Retailers Squeeze Chinese Suppliers

[I]  Trump Says GM Plant Closings May Justify New Car Tariffs

[I]  Fed Chairman Says Interest Rates Are Just Below Estimates of Neutral

[I]  Slowing Global Economy Weighs on U.S. Profits, Trade

[I]  October New-Home Sales Are Hit by Sharpest Drop Since 2017

[I]  Consumer Beware: With Less Trade Comes Less Choice

[I]  U.K. Predicts Economic Costs of Brexit Scenarios

[I]  Fed Identifies Top Vulnerabilities Facing U.S. Financial System

[I]  Bank of Mexico Trims Growth Estimates

 

BUSINESS LINE

[I]  Back series data trim GDP growth rates for FY05-12

[I]  Engineering exports may dip $5 b this fiscal on growing protectionism: EEPC

[I]  CA Institute to begin e-hearing of disciplinary cases from January

[I]  Overseas markets wipe away tears of onion traders hit by low domestic prices

[I]  Farmers demand loan waiver, better prices; plan protest in Delhi

[I]  Suspension of Aadhaar verification to hit lending of small fintech players

 

ECONOMIC TIMES

[I]  Over 50 Indian companies eye expanding operations to RAKEZ in UAE

[I]  Farming & mining hit primary sector growth in UPA era

[I]  West Bengal finds ways to increase organic farming

[I]  India Inc foreign borrowings down 66% to $1.41 billion in October

[I]  Andaman to host 1st ever Indo-Indonesian biz forum as part of Indo-Pacific strategies

[I]  India's ambition to replace China as industrial hub a 'pie in the sky', says Chinese media

[I]  No political motive behind the move: Rajiv Kumar, Niti Aayog

[I]  GDP backseries data: Niti Aayog's role raises eyebrows

 

BUSINESS STANDARD

[I]  Economists expect a 'pause' in RBI's Dec 5 policy review: BS poll

[I]  Can Alternative Investment Fund be the way forward for family offices?

[I]  IFC investments in India up by 136% to over $2.6 billion in FY 2018

[I]  Carmakers book a date, time their price hike announcement to lure customers

[I]  Auto firms laud EV draft policy, but flag infra, incentive concerns

[I]  Mauritius, Singapore funds likely to shift to GIFT City after Sebi norms

[I]  PE landscape getting better in India as investments fetch higher returns

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 10823;  USDINR DGCX: 70.6025;  DJIA Mini: 25319;  FTSE 100 Fut: 7057;  NIKKEI 225 Fut: 22322;  EUR-USD: 1.1373; Crude Oil (WTI): 50.68;  Gold (Spot): 1222

 

Best Regards, ARBIND

29 Nov 2018