MACRO ECONOMIC NEWS

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Macro Economic News 21 Feb 2019

 

Saudi Arabia's Crown Prince expected investment opportunities worth more than $100 billion in India over the next two years. Market participants are growing confident that the European Central Bank will soon try to boost the eurozone’s ailing economy by rebooting its program of ultracheap long-term loans to the banking system. Most Federal Reserve officials last month indicated they were ready to stop shrinking the central bank’s $4 trillion asset portfolio this year and believed an action plan should be released soon.  President Trump gave his firmest indication yet that the U.S. may not increase tariffs on Chinese goods on March 1, as scheduled, despite statements by his top trade official that the U.S. should stick to a firm deadline.

 

FINANCIAL TIMES

[I]  Ireland alarmed by UK’s food tariff plans in no-deal

[I]  Carmakers warn of huge hit from EU emissions tests

[I]  Japan exports see worst fall in 2 years on China slowdown

[I]  US shift to Asia is more than a short-term pivot

[I]  London and Brussels make the case for competition

 

REUTERS

[I]  Saudi crown prince expects investment worth more than $100 billion in India

[I]  Oil ticks over near 2019 highs amid OPEC cuts, but economic slowdown applies brakes

[I]  Japan auto lobby hopes Trump makes 'appropriate decision' on trade

[I]  Dollar inches up after Fed minutes, trade issues back in view

[I]  Australia posts bumper jobs run but soft outlook keeps rate cut views alive

[I]  Japan manufacturing shrinks for first time since 2016 amid trade war: PMI

[I]  No-deal Brexit may cut Scottish GDP up to seven percent: Scotland's chief economist

[I]  Canada to release budget, outline better drug coverage

[I]  Sudan's economic decline provides fuel for anger against Bashir

 

BLOOMBERG 

[I]  Singapore Says Tighter Foreign Worker Rules Are a ‘Surgical’ Move

[I]  Markets Are Too Complacent About Trade War, Morgan Stanley Wealth Says

[I]  California to Sell Debt in March for Train Trump Blasts as Waste

[I]  Japanese Manufacturing Contracts for the First Time Since 2016

[I]  Diagnosing a Market Meltdown: What the Fed Said About December’s Stock Plunge

[I]  May Could Be Forced to Fire Ministers Over Brexit Rebellion

[I]  America’s Shale Boom Keeps Rolling Even as Wildcatters Save Cash

[I]  Fed Hints a Bias Toward Hiking Endures as Balance-Sheet Rolloff Nears End

 

WALL STREET JOURNAL

[I]  Fed Prepares to End Balance-Sheet Runoff Later This Year

[I]  Green New Deal Won’t Enjoy a Free Lunch at the Fed

[I]  Trump Eases Off Hard Deadline for China Tariffs

[I]  Markets Warm to the Prospect of an ECB Funding Boost for Banks

[I]  Europe Again Champions Intervention to Counter China’s Economic Might

[I]  Trump Continues to Weigh EU Auto Tariffs

[I]  Fed Minutes May Yield Clues to How Long Rate Pause Will Last

 

BUSINESS LINE

[I]  At 9.2%, IT sector hits 3-year high in FY19; yet most CEOs cautious

[I]  Saudi Prince promises to invest $100 billion in India, fight terror

[I]  GST Council adjourns meeting; to decide on lowering levy for real estate on Sunday

[I]  Domestic air passenger traffic growth up 9% in January, slowest in 52 months

[I]  ‘Digital economy, a $1-trillion opportunity for India’

[I]  Sugar output up 8% to nearly 22 million tonnes

 

ECONOMIC TIMES

[I]  Severe winter likely to raise apple yield

[I]  Chilli not so hot as harvest gains momentum

[I]  Rate cut fails to tame yields in corporate bond market

[I]  Weak bond auctions flash warning on India's record debt sales

[I]  Regulatory cost weighs on India's CEOs as Modi fights graft

[I]  Finance ministry expects NPA recovery of Rs 1.80 lakh crore in FY19

[I]  India to remain fastest growing major economy in next decade: Report

 

BUSINESS STANDARD

[I]  Govt banks get Rs 48,239-crore capital boost to move out of PCA framework

[I]  FAME-II may disappoint electric two-wheeler manufacturers with lower sales

[I]  GST Council meeting adjourns, fails to arrive at a consensus on real estate

[I]  RBI Governor Das, bankers may not be on same page over passing rate cuts

[I]  Out 6 months later, FDI data show 7% fall in inbound equity investment

[I]  Govt clears reform to enhance domestic oil and gas exploration

[I]  90% of India's population will have smartphones by 2022, says report

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 10746;  USDINR DGCX: 71.0725;  DJIA Mini: 26080;  FTSE 100 Fut: 7211;  NIKKEI 225 Fut: 21501;  EUR-USD: 1.1349; Crude Oil (WTI): 56.92;  Gold (Spot): 1340

 

Best Regards, ARBIND
21 Feb 2019