MACRO ECONOMIC NEWS

GO KISS THE WORLD. WISHING AN AFFECTIONATE DAY AHEAD.

Macro Economic News 13 Feb 2019

FED Chairman Jerome Powell said national data show a healthy overall economy but that many groups and regions in the U.S. aren’t experiencing prosperity. Jerome Powell said that the economic expansion hasn’t been evenly shared across the country, particularly in rural America, and addressed issues of poverty and discrimination. Chinese and U.S. negotiators are focusing on producing a broad outline of a trade deal for their presidents to clinch at a possible summit. Americans are borrowing more for cars and less for houses, according to a report released by the Federal Reserve Bank of New York. Lobbying spending by steel producers, big beneficiaries of Trump administration tariffs, jumped last year to $12.2 million, the highest in at least two decades. 

FINANCIAL TIMES

[I]   Saudi Arabia goes on hunt for global oil and gas 

[I]   France calls for shake-up of EU merger rules 

[I]   US and EU close to agreeing new Russia sanctions 

[I]   World security tensions take centre stage in Munich 

[I]   Carney says Brexit is ‘acid test’ for global trade 

[I]   Pakistan set to secure funding from Saudi Arabia and IMF 

[I]   Australian government suffers historic defeat in parliament 

[I]   Blanket bans on China tech firms make no sense 

REUTERS

[I]   India's January inflation pace drops; RBI could cut rates again

[I]   Venezuela turns to India as sanctions cut oil flow to U.S., Europe

[I]   Moody's official says still opportune time for Japan to raise sales tax

[I]   Oil prices rise on OPEC supply cuts, Venezuela sanctions

[I]   Overseas tariffs sour U.S. whiskey exports

[I]   Asian stocks touch four-month peak on U.S.-China trade deal hopes

[I]   UK economy to make modest post-Brexit recovery if deal agreed: economists

BLOOMBERG 

[I]   A $1.7 Billion Tax Crackdown Is Paralyzing China's Film Industry

[I]   Passive Funds Overtake Stock-Pickers in the U.S. Large-Cap Market May Threatens a Long Brexit Delay, Her Top Aide Is Overheard Saying

[I]   Soaring U.S. Crude Oil Production Highlights OPEC's Quandary

[I]   Investors Are Too Busy Buying the Dip to Read the Fine Print

[I]   Chinese Firm Faces U.S. Trial Over Stolen Secrets It Can't See

[I]   RBNZ Pushes Out Rate-Hike View; Kiwi Surges as Bets on Cut Pared

[I]   More India Rate Cuts Could Be in Store as Core Inflation Eases

WALL STREET JOURNAL

[I]   Fed Chief Says Economic Expansion Has Been Uneven

[I]   China, U.S. Seek Broad Outline of a Trade Pact This Week

[I]   Job Openings Push Further into Record Territory at End of 2018

[I]   Auto Borrowing Rises as New Mortgage Loans Sag, New York Fed Says

[I]   Big Steel, a Tariff Winner, Steps Up Its Lobbying

[I]   Fed Chief Says Strong U.S. Economy Is Leaving Some Behind

BUSINESS LINE

[I]   As crisis looms, SEBI moves to counter pledged shares menace

[I]   Focus will be on harnessing local energy sources: Pradhan

[I]   CAG raps I-T Dept for inability to widen tax base in realty sector

[I]   Oil processors’ body pushes to increase groundnut consumption

[I]   Insurers seek alternative to Aadhaar e-KYC as instant policies get delayed

[I]   US Development Fin Corp to make equity investments in private sector globally

ECONOMIC TIMES

[I]   FM has good news on tax for Rs 9.5L earners

[I]   Outlook: Crude oil ready to scale Rs 3,800

[I]   Sanctions, Opec cuts push Asia’s sour crude prices above Brent

[I]   NBFC crisis hits corp bonds, sales dip 13% to Rs 4 lakh crore till Dec

[I]   95% real estate companies outside the income tax net, finds CAG

[I]   Cash in circulation now more than pre-demonetisation level

[I]   India, Russia draw up ambitious agenda in 2019 to boost economic partnership

[I]   Retail inflation cools further to 2.05% in January on easing food prices

BUSINESS STANDARD

[I]   DTC panel seeks to curb tax litigation; charitable trusts may face the heat

[I]   Indian airlines losses to shrink by $500-700 million in FY20: CAPA

[I]   Yield curve steepens, short-term rates drop on RBI rate cut decision

[I]   IIP grows at 2.4% in December against 7.3% in year-ago period

[I]   Retail inflation slips to a 19-month low of 2.05% on falling food prices

[I]   RoC has no PAN information on 95% real estate companies: CAG report

[I]   Despite RBI move, NBFCs' woes to continue till permanent funding fix found

[I]   How top bankers left cushy jobs to become entrepreneurs

[I]   Investors still fear NBFCs: 2 Indian funds' assets fell 50% in Dec quarter

MARKETS (09:30 am)

[I]  SGX NIFTY Fut: 10896;  USDINR DGCX: 70.5775;  DJIA Mini: 25509;  FTSE 100 Fut: 7102;  NIKKEI 225 Fut: 21186;  EUR-USD: 1.1338; Crude Oil (WTI): 53.67;  Gold (Spot): 1313

Best Regards, ARBIND

13 Feb 2019