MACRO ECONOMIC NEWS

GOD WANTS US TO REJOICE THE JOY IN GOD. WISHING A REJOICING DAY AHEAD.

Macro Economic News 17 Jan 2019

 

Optimism is waning among U.S. businesses as they grapple with a volatile stock market, rising borrowing costs, and concerns about trade and the government shutdown, according to a new Federal Reserve report. The Federal Reserve has linked rising student debt to a drop in homeownership among young Americans and the flight of college graduates from rural areas, two big shifts that have helped reshape the U.S. economy. U.S. retail sales went gangbusters at the end of 2018, but that momentum could be hard to maintain as consumers deal with higher interest rates and confidence-eroding factors such as the government shutdown and a volatile stock market. Bank Indonesia will likely keep its interest rate unchanged on Thursday amid expectations that the U.S. Federal Reserve will slow down its tightening pace this year.

 

FINANCIAL TIMES

[I]  Government shutdown begins to harm US economy

[I]  Carmakers face cuts and gloom as China sales drop

[I]  Kenya siege ends with assailants ‘eliminated’

[I]  Foreign governments divided over Congo election fraud

[I]  China injects record $84bn to boost economy

 

REUTERS

[I]  India's e-commerce curbs could hit online sales by 2022: PwC draft analysis

[I]  UK PM May seeks to end Brexit stalemate after winning confidence vote

[I]  Palladium prices hit record on supply deficit, gold firm on rate views

[I]  Bid to keep U.S. sanctions on Russia's Rusal fails in Senate

[I]  RBC lowers five-year fixed mortgage rate - The Globe and Mail

[I]  Euro zone economy faces longer slowdown, not recession - ECB's Draghi

 

BLOOMBERG 

[I]  U.S. Is Winning Globalization’s Next Wave Without the Trade Wars

[I]  U.K. Home-Sale Expectations Dip to Two-Decade Low

[I]  May Faces Tough Talks With Opponents to Get a New Brexit Deal

[I]  China Quietly Cuts Borrowing Costs While Keeping Rates on Hold

[I]  JPMorgan Economists See Promise and Pitfalls in Alternative Data

[I]  Here's the Trillion-Dollar Global Bond Rebound in Two Charts

[I]  Yen Likely to Hit 80s in Next Recession, Ex-BOJ Official Says

[I]  Wall Street's Earnings Week Bonanza Eases Investors' 2018 Pain

 

WALL STREET JOURNAL

[I]  Fed Says Student Debt Has Hurt the U.S. Housing Market

[I]  Fed’s Beige Book Shows Concerns Mounting Among U.S. Businesses

[I]  Shutdown Is a ‘Hellacious Situation’ for Federal Government Contractors

[I]  After a Strong 2018 for Retail Sales, Caution Flags Pop Up

[I]  Business Worries About Climate Intensify. Actions to Fix it, Not So Much.

[I]  Bank Indonesia Likely to Keep Rate Steady on Thursday: Poll

 

BUSINESS LINE

[I]  RBI eases ECB norms, lifts sector-wise limits

[I]  Coming soon: income-tax refunds in a day

[I]  Relief for start-ups: New procedure put in place for ‘angel tax’ exemption

[I]  Traders’ body urges govt not to make changes in FDI norms

[I]  PSBs may go slow on general hiring as they shift focus to specialists

 

ECONOMIC TIMES

[I]  India-US upping trade ties like never before

[I]  Panel to discuss formation of local council for gem & jewellery

[I]  Bond slide reflects fiscal jitters over farm stimulus

[I]  International funds sour on India sovereign bonds, buy corporate debt

[I]  Working group suggests measures to achieve $5 trillion economy by 2025

[I]  GST panel to study uniform tax rate on lottery

[I]  Budget 2019: What is a budget plan, how is it prepared?

[I]  Cabinet approves Rs 3,600 cr for setting up 13 central varsities

[I]  Budget 2019: 5 key steps for preparation of the Union Budget

 

BUSINESS STANDARD

[I]  Income Tax return processing time to reduce from 63 days to just 1 day

[I]  Companies can raise $750 mn yearly via external commercial borrowings: RBI

[I]  Why India has more women working on shop floors than in corporate offices

[I]  The curious case of rising health, education inflation in rural areas

[I]  Why India is losing out to neighbouring Bangladesh in textile exports

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 10948;  USDINR DGCX: 71.1550;  DJIA Mini: 24083;  FTSE 100 Fut: 6771;  NIKKEI 225 Fut: 20382;  EUR-USD: 1.1395; Crude Oil (WTI): 51.86;  Gold (Spot): 1295

 

Regards, ARBIND

17 Jan 2019