MACRO ECONOMIC NEWS

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Macro Economic News 10 Jan 2019

 

FED officials signalled they are unlikely to raise interest rates for at least a few months while they assess the impact of recent market volatility on the U.S. economy. The U.S. and China wrapped up their first face-to-face trade negotiations making progress toward an agreement but leaving the thorniest issues to be resolved in higher-level talks. The eurozone’s unemployment rate fell to its lowest rate in more than a decade, a sign that the economic slowdown is unlikely to turn quickly into a recession, but rates in Southern Europe remain high. Fresh signs of a weakening German economy are raising fears that last year’s slowdown could spill into 2019, deepening the challenges facing policy makers. The pace of growth across most of the U.S. economy slowed by more than expected in December, although activity continued to expand at a healthy rate. Bank Indonesia’s signalled that the central bank won’t raise the rate soon.

 

FINANCIAL TIMES

[I]  Rolls-Royce enjoys record car sales after US tax cuts

[I]  US-China trade talks conclude as hopes of progress rise

[I]  France to forge ahead with reforms despite protests

[I]  Trio of Fed officials urge patience on rates outlook

[I]  Eurozone jobless rate slips below 8% for first time in a decade

[I]  For EU business, normality has rarely looked so challenging

 

REUTERS

[I]  India sets 10 percent jobs quota for less well-off

[I]  Rupee seen facing more punishment, but no new record low: Reuters poll

[I]  China says trade talks with U.S. set foundation to resolve concerns

[I]  U.S. Fed may be open to changes to balance sheet plan, minutes show

[I]  Mexican fuel shortage worries industry as lines grow in capital

[I]  China says trade talks with U.S. set foundation to resolve concerns

[I]  BOJ's Kuroda: Japan economy to continue expanding moderately

[I]  Fed policymakers say U.S. rate hikes can wait, for now

[I]  Weak German imports widen trade surplus in November

 

BLOOMBERG 

[I]  Trump Poised for Battle With His Own Party on Trade-War Powers

[I]  Treasury Yield Brush With a `Death Cross' Cheers Bond Bulls

[I]  China Says Beijing Talks Lay Foundation For Trade Resolution

[I]  Britain's Beleaguered Retailers Had Worst Christmas Since 2008

[I]  Offshore Investors Pile on Bearish Bets Against Australia Stocks

[I]  Weakest Treasuries Demand Since 2008 Sends Bond-Market Warning

[I]  More Fed Officials Pile on Bandwagon Favoring Rate-Hike Pause

[I]  U.S. Pushes China on Promises After ‘In-Depth’ Trade Meetings

[I]  Don’t Mention Brexit! U.K. Companies Avoid Saying the ‘B’ Word

 

WALL STREET JOURNAL

[I]  Fed Is Unlikely to Raise Rates in Next Months

[I]  Should You Fear the Yield Curve?

[I]  Most New Voting Members of Fed Back Rate Pause

[I]  U.S. and China Make Progress on Trade, but Major Hurdles Remain

[I]  Business Lobby Gains Sway in Bid for U.S.-China Trade Peace

[I]  Riches to Rags: Swiss Central Bank Swings from Record Profit to Large Loss

[I]  As Unemployment Shrinks in Europe, Big Disparities Linger

[I]  Germany Shows Symptoms of Deeper Economic Pain

[I]  U.S. Service-Sector Growth Slowed in December

[I]  Bank Indonesia: Benchmark Rate Already Near Its Peak  

[I]  How Estimates of the Gig Economy Went Wrong

 

BUSINESS LINE

[I]  No TDS for long-term property lease premium, says Mumbai’s Income-tax Appellate Tribunal

[I]  World Bank retains India’s FY19 growth forecast at 7.3%

[I]  Digital payments security: A new challenge for the Aadhaar architect

[I]  US team to visit India, lobby for roll-back of import duties on mobiles, ICT products

[I]  Britain to test immigration proposals in India

[I]  Tomato rates double in Kolar, S India’s largest wholesale market

[I]  Despite healthy traction in loans, provisioning takes a toll on earnings

 

ECONOMIC TIMES

[I]  Record rice procurement on the cards

[I]  India Inc expects over 7% growth in next 12 months: Survey

[I]  Tea export to Pakistan on the rise: Tea Board data

[I]  Sri Lanka's Central Bank gets $400 million swap from RBI

[I]  India poised to become third-largest consumer market: WEF

[I]  Confederation of Indian Industry seeks corporate tax cut, higher I-T slab

[I]  In drive against shell companies, KYC to be made mandatory for firms

[I]  India needs to adopt middle path on data protection: NITI Aayog

 

BUSINESS STANDARD

[I]  Chinese firms face scrutiny from govt departments, domestic rivals in India

[I]  GST Council meet today: PM Modi wants exemption limit raised to Rs 75 lakh

[I]  Not necessary to start insolvency against principal borrower first: NCLAT

[I]  Cartels set up 'briefcase' firms, defraud GST regime of thousands of crores

[I]  2019 might see the beginning of a new era of regulatory technology

[I]  Wealthy investors re-thinking realty exposure, favour equities instead

[I]  Consumers using third-party payment apps much more than bank: Survey

[I]  With rise in consumer-facing biz, service firms emerge as PE sweet spot

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 10902;  USDINR DGCX: 70.6675;  DJIA Mini: 23722;  FTSE 100 Fut: 6812;  NIKKEI 225 Fut: 20141;  EUR-USD: 1.1563; Crude Oil (WTI): 51.85;  Gold (Spot): 1297

 

Best Regards, ARBIND

10 Jan 2019