MACRO ECONOMIC NEWS

WITH THE NEW DAY COMES NEW STRENGTH AND NEW THOUGHTS. WISHING A NEW DAY AHEAD.

Macro Economic News 22 Feb 2019

 

China's January home price growth slips to nine-month low. US Sales of previously owned homes fell in January, a sign that demand for housing continued to cool at the start of the year. The Federal Reserve releases the minutes of its January meeting, providing more detail about discussions before it formally signalled a halt to interest rate rises. President Trump said he would impose auto tariffs on the European Union if a trade deal can’t be reached between the two sides. The Green New Deal will face the same constraints that all such undertakings do: They can’t spend more than the economy can produce. Ignoring those constraints will either lead to inflation, a politically weakened Fed, or both.

 

FINANCIAL TIMES

[I]  Iran finds creative ways to evade Trump sanctions

[I]  Hong Kong opens banking market to online competition

[I]  Philippines warns of arms race after US nuclear pact exit

[I]  IMF agrees to $4.2bn fund for Ecuador

[I]  Turkey hits at call to suspend EU accession talks

[I]  China curbs on Australian coal imports alarm markets

[I]  US importers shift China orders over trade war fears

 

REUTERS

[I]  China sees 'enormous potential' in Saudi economy as crown prince visits

[I]  India needs to spur growth amid low inflation outlook: RBI's monetary policy committee

[I]  No 'dramatic effect' on economy from China port ban on Australian coal: RBA

[I]  Australia seeks to reassure investors over coal ban at China port

[I]  China's January home price growth slips to nine-month low

[I]  U.S., China haggle over toughest issues in trade war talks

[I]  Farm real estate prices holding up, but USDA worried about a fall

[I]  Oil dips as U.S. crude output hits record 12 million barrels per day

[I]  Brexit defections reveal frayed fabric of UK politics

[I]  U.S. business spending on equipment weakening

[I]  Property bust rattles Australia's record-breaking economy

 

BLOOMBERG 

[I]  China Develops Non-Lethal Microwave Radar Weapon: Global Times

[I]  China Economists See Pause, Not Halt, to Trump's Higher Tariffs

[I]  Fresh Slowdown in China Home Prices Turns Spotlight on Beijing

[I]  Beijing Shifts Gears to Support Stocks After 2018 Disaster

[I]  China Economists See Pause, Not Halt, to Trump's Higher Tariffs

[I]  Renewed U.S. Sanctions on Iran Revive Fortunes of an Indian Bank

[I]  Trade Tanks in a Bad Week for Asia Data as U.S., China Tussle

[I]  EM Divergence Signals Pause May Be Ahead for U.S. Stocks: Chart

 

WALL STREET JOURNAL

[I]  Business Investment Falters Amid Growing Global Economic Uncertainty

[I]  U.S. Existing Home Sales Drop 1.2% in January

[I]  U.S. Jobless Claims Fell Last Week

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

[I]  Trump, Xi Face Pressure at Home Over Trade

[I]  Trump Continues to Weigh EU Auto Tariffs

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

 

BUSINESS LINE

[I]  Bonanza for 4.71 cr salaried persons, EPFO yet to decide on raising pension

[I]  Why brands must be a beacon for society

[I]  FSSAI, Ayush Ministry discussing regulations for Ayurvedic foods

[I]  Retail outlets: Oil companies issue letters of intent to over 2,500 applicants

[I]  Urban Indians ‘grossly’ underprotected

[I]  Benign inflation, risks to growth led MPC to cut rate, change stance

[I]  RBI top brass urges bank CEOs to lower lending rates

 

ECONOMIC TIMES

[I]  India and China are targeting US at WTO

[I]  Govt in a hurry to ease norms for Andaman tourism

[I]  Odisha to implement PM-KISAN; farmers to benefit from central and state schemes

[I]  PMO rejects plan for dedicated NBFC to finance food processing projects

[I]  Total gross loan of microfinance industry grows 6 pc to Rs 65,090 cr in Q3

[I]  Emerging Markets accuse US of giving higher subsidy to farmers

[I]  President promulgates Unregulated Deposit Scheme Ordinance

[I]  Government re-promulgates ordinance for companies law amendments

[I]  Govt's reform initiatives transformed India into fastest-growing major economy: Niti Aayog

 

BUSINESS STANDARD

[I]  Small savings investment hits a new high to fund power projects

[I]  RBI takes close look at 'standstill agreements', plans to tighten norms

[I]  Govt harnessing Big Data, AI for policy push, says Nandan Nilekani

[I]  Australia, Indonesia, Swiss tourism boards open new vistas for travellers

[I]  MSEs are becoming more optimistic about their business prospects: Survey

[I]  Parliamentary panel asks govt to make reports on black money public

[I]  RBI cut lending rate citing steady inflation, hoped to boost investment

[I]  RBI emphasises on quick transmission of monetary policy action by banks

[I]  Lower growth capital remains a key challenge for banks under PCA

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 10783;  USDINR DGCX: 71.2425;  DJIA Mini: 25830;  FTSE 100 Fut: 7146;  NIKKEI 225 Fut: 21375;  EUR-USD: 1.1337; Crude Oil (WTI): 56.87;  Gold (Spot): 1326

 

Best Regards, ARBIND
22 Feb 2019