MACRO ECONOMIC NEWS

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Macro Economic News 14 Feb 2019

FED tax revenue declined 0.4% in 2018, the first full calendar year under the new tax law, despite robust economic growth and the lowest unemployment rate in nearly five decades. Japan’s economic growth rebounded in the last quarter of 2018 but the slowdown in China is expected to weigh going forward. The U.K. economy experienced its weakest growth since 2012 last year as businesses slashed investment in the face of growing uncertainty about the way in which the country will leave the European Union. A wave of strikes at low-wage plants in a border city threatens to spark increased labor strife as Mexico prepares to overhaul laws to empower workers following a new trade deal with the U.S. and Canada.

FINANCIAL TIMES

[I]   Spain edges towards early polls after budget setback 

[I]   Australia cites ‘witching hour’ for currency crashes 

[I]   Dutch PM warns of ‘devastating’ no-deal Brexit for UK 

[I]   Fed official warns against crimping US growth 

[I]   Moderate inflation can lead to economic crisis 

REUTERS

[I]   Wary of shutdown, Trump inches toward support for wall deal

[I]   Japan fourth-quarter GDP rebounds but trade frictions remain a concern

[I]   Gold up on Fed rate pause signals; strong equities limit gains

[I]   UK house price outlook darkest since 2011: RICS

BLOOMBERG 

[I]   Trump Says China Trade Talks Going ‘Very Well’ Ahead of Deadline

[I]   Tale of Two Central Banks Casts Aussie-Kiwi Fight Into Spotlight

[I]   Japan’s Economy Rebounds Moderately From Natural Disasters

[I]   What Shutdown? Bond Market Sees No Risk as Capital Sells Debt

[I]   Fed Officials’ Views on the Economy Have Converged: It's in a Good Place

[I]   China's Stock Traders Snap Up Everything 5G

[I]   U.K. Housing Slump Endures in 2019 as Brexit Hangs Over Outlook

WALL STREET JOURNAL

[I]   U.S. Tax Revenues Fall, Deficit Widens in Wake of New Tax Law

[I]   Japanese Economy Scores Rebound

[I]   Energy Prices Hold Down Overall U.S. Inflation

[I]   The Unrealistic Economics of the Green New Deal

[I]   New Nafta Is Threatened by Partisan Split Over Enforcement

[I]   Strikes at Low-Wage Plants Signal Revival of Labor Demands in Mexico

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

[I]   U.K. Posts Slowest Growth in Six Years Amid Brexit Worries

BUSINESS LINE

[I]   Loan against shares: SEBI to tighten screws on MFs

[I]   Cabinet clears higher MSP of Rs. 3,950/quintal for raw jute

[I]   Jaitley likely to chair GST Council meet next week; lower levy for housing on the cards

[I]   Lok Sabha passes Bill to ban unregulated deposit schemes

[I]   Amendments to Citizenship, Motor Vehicles, Chit Fund Acts among 38 Bills set to lapse

[I]   Focus is on building more airports in metros : Sinha

[I]   A strategy for creating more jobs

[I]   ECB an option to resolve stressed assets

[I]   Leveraging geospatial tech in banking

[I]   Low prices continue to haunt Maharashtra’s onion growers

ECONOMIC TIMES

[I]   US warns countries against buying Venezuelan oil

[I]   RBI turns net buyer of dollar in December after almost 9 months

[I]   SEBI to strengthen investigative efforts over issues of corporate governance

[I]   How softer inflation brought buoyancy for bonds

[I]   A new leadership model is needed for changing world order

[I]   View: ‘Minimum government, maximum governance’ is all well. But how big should GoI ideally be?

BUSINESS STANDARD

[I]   Insolvency code amendment on cards to ensure NCLT-approved plans are obeyed

[I]   Bank credit up 14.5% to Rs 94.29 trn, deposits rise 9.63%: RBI data

[I]   Airlines face pilot shortage; around 2,000 more needed in 2018-19

[I]   Fearing backlash at WTO, India rules out import duty hikes for copper, iron

[I]   India slips into a pre-Keynesian world

[I]   Valuation of Indian equities still remain expensive, says Credit Suisse

[I]   US warns countries, including India, against buying Venezuelan oil

[I]   Trump says could extend China trade talks deadline beyond March 1

MARKETS (06:30 am)

[I]  SGX NIFTY Fut: 10777;  USDINR DGCX: 71.0175;  DJIA Mini: 25473;  FTSE 100 Fut: 7127;  NIKKEI 225 Fut: 21122;  EUR-USD: 1.1267; Crude Oil (WTI): 54.00;  Gold (Spot): 1309

Best Regards, ARBIND

14 Feb 2019