MACRO ECONOMIC NEWS

PRAYERS, DREAMS AND SEEDS, THEY ALL HAVE NOTHING WITHIN BUT POTENTIAL TO CREATE EVERYTHING. WISHING A CREATIVE DAY AHEAD.

Macro Economic News 20 Feb 2019

 

Europe’s struggle to keep up with China’s government coordination of business and economic might of the U.S. has prompted more European politicians to advocate interventionism.  The Trump administration is racing to strike a deal that will result in long-term reforms—and prove that tariffs are an effective battering ram to open markets around the world. Cleveland Fed President Loretta Mester said she expects interest rates to rise slightly this year if the economy lives up to her expectation of solid performance. Washington’s red-ink alarms have gone dead, even though the annual deficit will reach roughly $900 billion this year, then pass the trillion-dollar mark annually starting in 2022. Is this lack of concern wise?

 

FINANCIAL TIMES

[I]  Opec cuts send crude exports to lowest since 2015

[I]  Berlin backs Paris on right to overturn EU merger rulings

[I]  Farming and food groups warned of ‘burping cow’ risks

[I]  China’s slow reforms stack odds against multinationals

[I]  Other Japanese groups could follow Honda out of UK

[I]  China will not surpass America any time soon

 

REUTERS

[I]  Pakistan PM warns India against attack, urges talks

[I]  Dollar struggles ahead of Fed minutes, but gains on the yen

[I]  Tokyo's drive to expel zombie stocks hits small caps

[I]  Japan's exports fall most in two years as China shipments weaken

[I]  Oil dips from 2019 highs as rising U.S. supply erodes OPEC cuts

[I]  China central bank announces bill swaps to support bank perpetual issuance

[I]  May in Brussels again, seeking Brexit movement

[I]  WTO warns of global trade slowdown as indicator hits nine-year low

[I]  Germany, with bumper current account surplus, frets about car tariffs

[I]  Japanese firms see flat business spending amid trade frictions, tax hike jitters

 

BLOOMBERG 

[I]  Electric Cars Are China Auto Industry's Lone Bright Spot

[I]  PBOC Makes First Use of New Tool Aimed at Boosting Bank Capital

[I]  Singapore Home Prices Not Set for ‘Big Bump,’ CapitaLand Says

[I]  Asia Rally Skips India as Uncertainty Roils $1.9 Trillion Market

[I]  Yield-Curve Inversion Trade Seen Roaring Back After FOMC Minutes

[I]  Weak Bond Auctions Flash Warning on India's Record Debt Sales

[I]  Payless Gets Approval From Bankruptcy Court to Start Closing U.S. Stores

 

WALL STREET JOURNAL

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

[I]  As China Trade Talks Resume, Trump Pushes an Ambitious Agenda

[I]  Fed’s Mester Sees Rates Slightly Higher This Year

[I]  Worrying About Deficits Falls Out of Style

[I]  Layoff Gauge Rose in Early February

 

BUSINESS LINE

[I]  Interest subvention, credit guarantee fund part of New Electronics Policy

[I]  Angel Tax relief: Govt eases exemption rules, expands definition of start-ups

[I]  Increase in disputed corporate I-T arrears raises the spectre of ‘tax terrorism’

[I]  PM Jan Dhan Yojana accounts see record 24% rise in average balance

 

ECONOMIC TIMES

[I]  Risk of fallen angels in Asia’s bond market is rising

[I]  Saudi Arabia asks India to allow foreign ownership in real estate

[I]  7 islands in Andamans, Lakshadweep identified for seaplane operations

[I]  Cabinet clears promulgating fresh ordinance for companies law amendments

[I]  Government approves new national electronics policy eyeing 1 crore jobs

[I]  Bonanza for government employees, cabinet approves 3% dearness allowance

[I]  Data not cooked up, GDP figures to go up further: Government

 

BUSINESS STANDARD

[I]  Angel tax relief for startups: Funding cap for exemption raised to Rs 25 cr

[I]  SIP closure ratio at 18-month high, Dec applications slip to 750,000

[I]  Irdai asks all non-life insurers for a uniform standard health product

[I]  WTO pegs global trade at 9-year low; India exports may take hit

[I]  Time to turn cautious on India Inc, warns S&P

[I]  Cabinet clears ponzi Ordinance, fresh changes in the Companies Act

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

[I]  Iron ore output likely to hit record 225 million tonnes in FY20

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 10662;  USDINR DGCX: 71.4075;  DJIA Mini: 25878;  FTSE 100 Fut: 7131;  NIKKEI 225 Fut: 21452;  EUR-USD: 1.1343; Crude Oil (WTI): 56.37;  Gold (Spot): 1344

 

Best Regards, ARBIND
20 Feb 2019