GOD DREAMS ABOUT YOU, I AND ALL OF US AS FAMILY; MADE FOR COMPASSION AND LOVE. WISHING AN ADORABLE DAY AHEAD.

Macro Economic News 24 Dec 2019

 

In a light week for economic news, the U.S. will offer snapshots of the manufacturing and housing sectors while Japan will offer an update on its jobs market and retail sales. Demand for long-lasting factory goods made in the U.S. fell in November, suggesting the manufacturing sector remained uneven last month. Canada’s economy unexpectedly shrank 0.1% in October, following steep retreats in manufacturing and retail sales. FT poll suggests that Christine Lagarde is expected to change ECB inflation target while BOJ debated monetary, fiscal policy mix as cost of ultra-low rates rises. Brazil proposes central bank bill to gird against banking crisis while RBI chief says, some green shoots are sprouting in the economy. Queen stresses reconciliation after bruising Brexit year. Top US official opines collapse of China’s global spending spree. IMF suggests India needs fiscal-consolidation path to reduce debt in the wake of rise of defaults in Asia with hot spots in China, India. In a first of its simultaneous OMO, RBI bought more bonds than it sold. Commerce Ministry wants stricter rules on trade remedies to be implemented soon aligning RBI capping of lending on P2P platforms at Rs 50 lakh. PFRDA wants government to double tax benefit under NPS to Rs 1 lakh whereas benchmark indices scale fresh peak with Sensex valuation nearing 20-yr high.

 

FINANCIAL TIMES

[I]  Climate costs mount as retailers compete on fast delivery

[I]  FT poll: Christine Lagarde expected to change ECB inflation target

[I]  China’s global spending spree will collapse, says top US official

[I]  Spain’s businesses worried by prospect of radical left

[I]  Fire and flood focus minds of bosses and investors

[I]  Corporate Scrooges shown spectral vision of purpose over profit

[I]  The spirit of endeavour has not dimmed in 2019

 

REUTERS

[I]  Indian November imports of Latin American oil slump to 20-month low - data

[I]  BOJ debated monetary, fiscal policy mix as cost of ultra-low rates rises

[I]  Turkey, Russia talk Syria as thousands flee bombing

[I]  California to toughen group discounts regulations in auto insurance

[I]  Queen stresses reconciliation after bruising Brexit year

[I]  Brazil proposes central bank bill to gird against banking crisis

[I]  Shares inch to new highs on trade hopes; dollar little changed

[I]  U.S. business spending on equipment weak; housing regaining footing

[I]  Disruptive decade: 10 things the teen years brought world markets

 

BLOOMBERG 

[I]  Animal Spirits in India Show the Slowdown May be Bottoming Out

[I]  China Widens Economic Policy Blitz With Cash Injection Pledge

[I]  Hong Kong Residents Eye Apartments Overseas as Protests Drag On

[I]  India Needs Fiscal-Consolidation Path to Reduce Debt, IMF Says

[I]  Euphoria, Greed and Fear Mark 2010s for Commodities Investors

[I]  Defaults in Asia Set to Rise With Hot Spots in China, India

[I]  U.S. New-Home Sales Rise to Cap Best Three Months Since 2007

 

WALL STREET JOURNAL

[I]  China to Cut Tariffs on Range of Goods Amid Push for Trade Deal

[I]  U.S. Durable Goods Orders Fell in November

[I]  Fed Confronts Lack of Diversity in Its Ranks

[I]  Canada GDP Unexpectedly Contracts in October

[I]  Newsletter: The High Cost of Rising Car Prices

 

BUSINESS LINE

[I]  $ 5-trillion economy achievable, but focus should be on employment generation: Assocham

[I]  Gap between requirement and collection of cess likely to go above ₹63,000 crore

[I]  White paper to reduce tax burden on steel sector in the offing

[I]  Some green shoots are sprouting in the economy, says RBI chief

[I]  Commerce Ministry wants stricter rules on trade remedies to be implemented soon

 

ECONOMIC TIMES

[I]  How govt plans to lure phone cos to India

[I]  Here's where the jobs will be in 2020

[I]  Haryana approves 40 horticulture projects

[I]  Lower tax revenue forecast a worry for the southern states

[I]  RBI caps lending on P2P platforms at Rs 50 lakh

[I]  PFRDA wants government to double tax benefit under NPS to Rs 1 lakh

[I]  Companies under IBC process may get GST relief

 

BUSINESS STANDARD

[I]  As benchmark indices scale fresh peak, Sensex valuation nears 20-yr high

[I]  RBI conducts first simultaneous OMO, buys more bonds than it sells

[I]  Who will approve and release official surveys? Draft NSC Bill stays silent

[I]  Govt rejects plea for extension to SEZ units for importing plastic scrap

[I]  Govt refuses to share Swiss a/c details of Indians, cites confidentiality

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 12266;  USDINR DGCX: 71.3075;  DJIA Mini: 28555;  FTSE 100 Fut: 7560;  NIKKEI 225 Fut: 23730;  EUR-USD: 1.1087; Crude Oil (WTI): 60.49;  Gold (Spot): 1488

 

Best Regards, ARBIND
24 Dec 2019

LET THIS TOGETHERNESS TURN THE CELEBRATION INTO CARNIVAL; HEART INTO HEAVEN AND HOUSE INTO HOME. WISHING AN INSEPARABLE WEEK AHEAD.

Macro Economic News 23 Dec 2019

 

Indian Govt won't be hiking GST rates anytime soon whereas highways sector is expected to see Rs 15 lakh crore investments in 5 years. As many as 377 infrastructure projects, each worth Rs 150 crore or more, have been hit by cost overruns of more than Rs 3.94 lakh crore owing to delays and other reasons. As a part of the government’s push to better India’s ranking on the World Bank’s ease of doing business index, Ministry of Corporate Affairs (MCA) is planning to give a bank account number to each company as soon as it is incorporated. Just a few years ago, Greece stood out from the rest of the developed world for its devastated economy. Now Greece has the world’s strongest manufacturing sector, based on indexes of manufacturing activity. New Mexico has launched several short-term job training programs aimed at lowering unemployment and training workers for hard-to-fill jobs, a task employers struggled with in a tight labor market. Corporate Japan posts record number of M&A deals while Brazilian consumers feel festive cheer as economy returns to life. In 2020, 2% Looks Like the New 3% for the World’s Benchmark Rate while Bond wobble shrinks global pile of negative yields.

 

FINANCIAL TIMES

[I]  Bond wobble shrinks global pile of negative yields

[I]  Corporate Japan posts record number of M&A deals

[I]  Brazilian consumers feel festive cheer as economy returns to life

[I]  France loosens ties with west African currency

[I]  Australia’s PM refuses to change climate policy after deadly fires

[I]  Global food supply chains caught in honey trap

 

REUTERS

[I]  South Korea 20-day exports fall, but China demand offers hope

[I]  China will lower import tariffs on over 850 products from January 1

[I]  Abenomics sputters as trade damage spreads, tax revenues undershoot

[I]  Egypt, Ethiopia, Sudan views come closer on giant Nile dam: Sudanese minister

[I]  North Macedonia adopts 2020 budget, targets lower deficit

[I]  Egypt to begin gas imports from Israel by mid-Jan 2020

[I]  Christmas in Lebanon not so merry as economic crisis bites

[I]  Trump says trade deal with China to be signed 'very shortly'

 

BLOOMBERG 

[I]  China to Further Open Up Industries, Ease Burden for Companies

[I]  Our Guide to What the World’s Top Central Banks Will Do Next Year

[I]  Here’s What Credit Pros Are Watching as Defaults Rise in China

[I]  Big Tech Could Lose Financial Blessing of the Church of England

[I]  Thai Baht, Asia’s Best-Performing Currency, Faces Reversal

[I]  Kuwait Could Agree in Days With Saudis on Neutral-Zone Oil

[I]  Lagarde Model Shunned as U.K. Extends Economy’s Male Millennium

[I]  A Safe Corner of Emerging Markets Looks Less of a Haven in 2020

[I]  Five Years After Meltdown, Ruble Is Reborn as Trade-War Refuge

[I]  In 2020, 2% Looks Like the New 3% for the World’s Benchmark Rate

[I]  W. Africa Monetary Union to Reform CFA Franc, Keep Euro Peg

 

WALL STREET JOURNAL

[I]  Employers Turn to On-the-Job ‘Boot Camps’ to Fill Out Workforce

[I]  Surprise Exception to the Global Manufacturing Slowdown: Greece

[I]  Consumer Spending Strengthens as Year Winds Down

[I]  When Congress Buys Time to Finish a Budget, the Price Is Uncertainty

[I]  With Brexit Looming, U.K. Picks Veteran as Central Bank Chief

[I]  Economy Week Ahead: U.S. Manufacturing, Japan Jobs Market

 

BUSINESS LINE

[I]  377 infrastructure projects show cost overruns of Rs 3.94 lakh crore

[I]  ‘This slowdown is cyclical, not structural’

[I]  Gadkari bats for IT, e-governance, praises FASTag system

[I]  Maharashtra unearths huge fertiliser adulteration scam

[I]  Auto Expo 2020 will be launch pad for revival: SIAM

[I]  Revenue Dept confident of achieving tax mop-up target

[I]  Wheat continues to gain acreage as farmers plant more in Rajasthan, M.P.

 

ECONOMIC TIMES

[I]  Govt won't be hiking GST rates anytime soon

[I]  What the job scene may look like in 2020

[I]  What’s at stake in Jharkhand for key players

[I]  India seeks to reclaim its ship-recycling glory

[I]  Highways sector to see Rs 15 lakh crore investments in 5 years: Nitin Gadkari

[I]  Data policy tweaks set to keep India Inc busy in 2020

 

BUSINESS STANDARD

[I]  Registering a company? Starting a business gets just a little bit easier

[I]  Mall developers, investors look to double retail spaces in next two years

[I]  Consumer durables report steady growth in 2019; slowdown a threat in 2020

[I]  IBC to Central GST Act, 10 laws that changed the way India does business

[I]  Supreme Court verdicts that shook industries like telecom, coal, and mining

[I]  FPIs open fund floodgates for markets; net inflow crosses Rs 1 trn in 2019

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 12289;  USDINR DGCX: 71.2100;  DJIA Mini: 28491;  FTSE 100 Fut: 7514;  NIKKEI 225 Fut: 23780;  EUR-USD: 1.1083; Crude Oil (WTI): 60.28;  Gold (Spot): 1481

 

Best Regards, ARBIND
23 Dec 2019

LET THE RAY OF HOPE ENLIGHTEN OUR INNER BEAUTY TO SPREAD ABUNDANCE OF TRUST TO EVERYONE. WISHING A DIVINE WEEKEND AHEAD.

Macro Economic News 21 Dec 2019

 

The World is days away from booking the best asset returns in a decade as consumers boosted spending buoyed by a rise in income and an optimistic outlook for the U.S. economy however, Moody’s warns on frothy US junk bond market. The German institute of economic research (DIW) expresses likely contraction of German economy in fourth quarter while Argentina is delaying payments on $9bn in its public debt. PM Boris Johnson won approval for his Brexit deal in parliament, the first step towards Britain's departure from the European Union by Jan. 31. PM Modi assures that India will emerge stronger from economic slowdown; however, IMF says economic revival is unlikely soon while Fitch has cut India's GDP growth to 4.6% as credit crunch cripples economy. IMF’s Gita Gopinath warns that India must stick to fiscal consolidation in medium-term along with policy certainty and structural reforms while Fitch highlights, India's growth outlook is still strong compared to peers. PM has encouraged India Inc. of making bold investment decisions to push up growth while assuring banks and India Inc about no inappropriate action on genuine commercial decisions whereas Nitin Gadkari invites them to set up industries along Delhi-Mumbai expressway and FM Sitharaman expressed intention the Govt. does not want businesses to shut rather will help them revive. India's appetite for petroleum products consumption is expected to drop to 6-year low while, as per RBI report, India's import cover had improved to 10 months in June 2019. India's volatile food prices are yet again posing a sticky inflation problem for its central bank, preventing it from cutting rates as deep as it would like to support a stuttering economy. in the meantime, Rupee bond yields fall after RBI brings in India's version of 'Operation Twist' where 10-year yield sees biggest fall in 10 weeks.

 

FINANCIAL TIMES

[I]  Johnson clears path for Brexit with draft bill victory

[I]  Argentina delays payments on $9bn in debt

[I]  Sweden worries it created a negative-rates monster

[I]  Ukraine and Russia sign deal on gas supply to Europe

[I]  Moody’s warns on frothy US junk bond market

 

REUTERS

[I]  India will emerge stronger from economic slowdown, Modi says

[I]  India's elevated food inflation limits scope for further rate cuts

[I]  Veteran watchdog Bailey to guide Bank of England through Brexit

[I]  UK on track for Jan. 31 Brexit as PM Johnson wins vote on deal

[I]  U.S. consumers put economy on moderate growth path in third quarter 

[I]  German economy likely to contract in fourth quarter, DIW says 

[I]  Gold demand tepid in major Asian hubs, protests in India curb buying

 

BLOOMBERG 

[I]  The World Is Days Away From Booking the Best Asset Returns in a Decade

[I]  ‘Unstoppable’ Global M&A Faces Slower 2020 on Markets, Politics

[I]  BofA CEO Says Leveraged-Loan Stress Could Ripple Through Economy

[I]  Going 100% Green Will Pay For Itself in Seven Years, Study Finds

[I]  The 2020 Outlook for Euro Interest Rate Volatility

[I]  U.S. Consumption, Incomes Pick Up in Sign of Holiday Cheer

[I]  Long-Term Inflation Expectations Hit Record Low in Michigan Consumer Survey

[I]  Consumer-Spending Bump Offset by Inventories in Revised U.S. GDP

 

WALL STREET JOURNAL

[I]  Consumer Spending Strengthens as Year Winds Down

[I]  When Congress Buys Time to Finish a Budget, the Price Is Uncertainty

[I]  With Brexit Looming, U.K. Picks Veteran as Central Bank Chief

[I]  U.S. Home Sales Pick Up in Second Half of Year

[I]  House Passes North American Trade Pact With Bipartisan Support

[I]  Uber, Lyft Marshal Forces Over California Law on Gig Workers

 

BUSINESS LINE

[I]  PM to banks, India Inc: no inappropriate action on genuine commercial decisions

[I]  Three proposals get automatic nod under CCI green channel

[I]  Yield improvement need of the hour for cotton sector, says apex trade body

[I]  Policy certainty, structural reforms are key to growth: IMF’s Gita Gopinath

[I]  Set up industries along Delhi-Mumbai expressway: Gadkari

[I]  Spike in food inflation limits scope for further rate cuts

 

ECONOMIC TIMES

[I]  Fitch lowers India's growth to 4.6% in FY20

[I]  Forex reserve scales fresh record high at $454.49 billion

[I]  Rupee, bond yields fall after RBI brings in India's version of 'Operation Twist'

[I]  Operation Twist: 10-year yield sees biggest fall in 10 weeks

[I]  Economic revival unlikely soon: International Monetary Fund

[I]  India's growth outlook still strong compared to peers: Fitch

 

BUSINESS STANDARD

[I]  India Inc should make bold investment decisions to push up growth: PM Modi

[I]  Do not want businesses to shut, will help revive: Sitharaman to India Inc

[I]  India's appetite for petroleum products consumption to drop to 6-year low

[I]  India's import cover improves to 10 months in June 2019, says RBI report

[I]  Govt plans to take khadi turnover to Rs 2 trn in next 5 years: Gadkari

[I]  Fitch cuts India's GDP growth to 4.6% as credit crunch cripples economy

[I]  India must stick to fiscal consolidation in medium-term, says Gita Gopinath

 

Best Regards, ARBIND

21 Dec 2019