MACRO ECONOMIC NEWS

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Macro Economic News 08 Feb 2019

 

The Reserve Bank of India's surprises with interest rates cut for the first time in 18 months. Europe’s economy faces a daunting combination of weaker demand for its exports from China and elsewhere, the prospect of a messy divorce with the U.K. and political problems closer to home, the European Union warned. German manufacturers reported a sharp drop in orders at the end of last year, a sign that businesses around the world may be holding back on new investments in the face of trade uncertainty. More than 58% of private-sector economic forecasters say a fresh government shutdown would take a toll on U.S. economic growth as well as business and consumer sentiment. A steady decline in demand for U.S. government bonds from foreign investors hasn’t been the disaster many analysts and investors feared it would be.

 

FINANCIAL TIMES

[I]  France recalls Rome envoy over Italian ‘interference’

[I]  Norwegian hit by strike threats and losses

[I]  Trump pins hopes on strong economy ahead of 2020 poll

[I]  UK draws up secret plan to boost economy in no-deal Brexit

[I]  EU cuts Italy growth forecast to five-year low

[I]  Bank of England joins dovish peers with rates on hold

[I]  South Korea and US near deal on defence costs

[I]  Reserve Bank of India cuts key interest rate

 

REUTERS

[I]  RBI unexpectedly cuts key rate

[I]  Oil prices squeezed by economy concerns, but OPEC output cuts provide support

[I]  Dollar firms, Aussie weakens as fresh growth worries prop up safe havens

[I]  Japan household spending rebounds slightly in December as real wages rise

[I]  RBI to set up working group for agricultural loan issues

 

BLOOMBERG 

[I]  Australia Cuts GDP, CPI Forecasts on Consumption, Housing Risks

[I]  Fake Drugs Could Put Patients At Risk After No-Deal Brexit

[I]  British Workers Would Rather Have a Pay Rise Than a Lunch Break

[I]  OPEC Cuts? Rates Plunge? Oil Tanker Market to Shrug It All Off

[I]  India Assets End With Whimper as Surprise Rate Cut Fails to Amaze

[I]  Brexit Britain Is a Foreign Country to a Bemused World

[I]  Hedge Funds Post First Monthly Gains Since July

[I]  Brexit Is Nine Days Away for Exporters Sending Ships to Asia

[I]  Philippine Equity Index Nears Bull Market on Foreign Cash

 

WALL STREET JOURNAL

[I]  Most Economists Say Second Shutdown Would Hurt Growth

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

[I]  Eurozone Economic Forecasts Slashed

[I]  Powell to Deliver Report to Senate Banking Committee This Month

[I]  Trump Tax Law Spurs Job Creation...for Tax Lawyers and Accountants

[I]  Fed’s Bullard Says No Need to Raise Rates Again

[I]  Economists Give Jerome Powell a Grade of B-Minus on His Performance

[I]  Domestic Investors Pick Up Foreign Creditors’ U.S. Debt

[I]  Trade Uncertainty Sends a Chill Through German Manufacturing

 

BUSINESS LINE

[I]  Shaktikanta opens account with a surprise rate cut

[I]  Cotton output pegged at eight-year low

[I]  No big deal in Jan, PE/VC investments down by half year-on-year: EY study

[I]  CBDT Chairman: Solution in the works for angel tax issues

[I]  Cheer for auto-makers as registrations of vehicles rise in Jan

[I]  More rate cuts forecast with RBI focus seen on growth

[I]  For India Inc, traditional risks are clear and present perils

[I]  RBI relaxes norms to raise funds through ECB route

 

ECONOMIC TIMES

[I]  Here's what experts think of RBI's focus shifting to growth

[I]  RBI takes sharp U-turn, lowers repo rate by 25 bps in first cut since Aug 2017

[I]  Companies ensure payback if execs flout norms

[I]  India's oilmeals export rises 5.5 per cent in January

[I]  India jumps 8 places to 36th on International IP Index

 

BUSINESS STANDARD

[I]  Rate cut season back after 18 months as RBI moves to lift growth momentum

[I]  Industry promises Rs 39,000-cr investment at Bengal Global Business Summit

[I]  1.2 bn Indians, but just 150,000 declared income of over Rs 1 crore: CBDT

[I]  RBI increases limit on collateral-free agriculture loans to Rs 1.6 lakh

[I]  RBI monetary policy: Bad loan recognition norms, bulk deposits, and more

[I]  RBI monetary policy review: Risk weights eased for bank loans to NBFCs

[I]  Retail investors' wealth erodes as negative news-flow dents sentiment

 

MARKETS (07:00 am)

[I]  SGX NIFTY Fut: 11048;  USDINR DGCX: 71.4700;  DJIA Mini: 25040;  FTSE 100 Fut: 7040;  NIKKEI 225 Fut: 20481;  EUR-USD: 1.1340; Crude Oil (WTI): 52.47;  Gold (Spot): 1310

 

Best Regards, ARBIND

08 Feb 2019