MACRO ECONOMIC NEWS

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Macro Economic News 11 Mar 2019

                                                                                                                                                       

Federal Reserve Chairman Jerome Powell said that the U.S. economic outlook is favorable and that the economy doesn’t require higher or lower interest rates now. The world’s central banks, boxed in with few policy tools available, are engaged in a major policy reversal to ensure major economies don’t sink into unexpected recession. The White House’s budget proposal assumes the U.S. economy will keep expanding as briskly as it did last year, when a tax cut and government spending increase boosted growth. The Federal Reserve is pushing back against a new private bank that is suing the central bank for access to its services.

 

FINANCIAL TIMES

[I]  BoE tightens bank liquidity buffers before Brexit

[I]  Dovish Fed fails to tame dollar gains

[I]  US and China haggle over enforcing trade commitments

[I]  US envoy warns EU over military project curbs

[I]  Trump to request $8.6bn for border wall in US budget

[I]  Reform would be little more than additional VAT

 

REUTERS

[I]  India polls open April 11, election results May 23

[I]  Oil rises on OPEC-led supply cuts, but slowing economy restricts gains

[I]  Pre-recession signals lurk in UK jobs data: research

[I]  Deal, no deal or delay - How will UK parliament decide on Brexit?

[I]  'Brexit in peril' as PM May faces heavy defeat

[I]  Venezuela enters fourth day of blackout as Maduro blames U.S. for power outage

[I]  Rouhani seeks to shore up Iran's influence on Baghdad trip

[I]  Italy wants to sign Belt and Road deal to help exports: deputy PM

[I]  China's February producer inflation flat amid lacklustre demand, consumer inflation eases

[I]  U.S. February job growth weakest in nearly 1-1/2 years

[I]  Indian gold flips to premium as appetite improves in most hubs

 

BLOOMBERG 

[I]  India Central Bank Is Having Trouble Getting Banks to Cut Rates

[I]  The Bank With India's Worst Bad Debt Will Sell $1.4 Billion of Loans

[I]  Japanese Workers Can Expect Smaller Raises This Year

[I]  Bruised Emerging Markets Brace for Reality of China's Trade Pain

[I]  Yen Is Tamed So BOJ Can Drop Inflation Goal, Business Lobby Says

[I]  Debt Catches Up With Turkey

[I]  Hong Kong Tightens Liquidity With $192 Million Peg Defense

[I]  Yuan Gains Expected to Be Capped as China Pushes Against U.S.

[I]  Oil's Big Reset: Energy Majors Learn to Thrive After Price Crash

 

WALL STREET JOURNAL

[I]  Fed Chairman Powell Sees No Need to Change Rate Policy

[I]  Central Banks Play a Game of Risk Management

[I]  How a Russian Gas Pipeline Is Driving a Wedge Between the U.S. and Its Allies

[I]  Economy Week Ahead: U.S. Retail Sales, Chinese Economic Data and More

[I]  Hiring Taps Brakes on Expansion

[I]  Trump’s Budget Sets High Expectations for Economic Growth

[I]  Fed’s Fight With Private Bank Escalates

[I]  Powell Says Inflation-Target Rethink Is Needed, Sets High Bar for Change

 

BUSINESS LINE

[I]  EC blows the poll bugle; Lok Sabha elections in 7 phases from April 11

[I]  Pradhan red flags higher crude oil prices to Saudi Arabia

[I]  CBDT allows offshore fund managers to operate from India

[I]  Move to prevent conflict of interest

[I]  ‘We seek uniformity in regulatory provisions across the country’

[I]  MFs hold the key in commodity futures

 

ECONOMIC TIMES

[I]  A sudden chance for India to alter China's Pak math forever

[I]  High input tax claims put many cos in trouble

[I]  EPF transfer on job change to be automated

[I]  FinMin may borrow 60% from market for H1, switch bonds up to Rs 70k cr

[I]  RBI says no data on demonetised 500, 1,000 notes used at petrol pumps

[I]  CII releases roadmap for 8% growth in coming years

[I]  Centre aims record low NREGS dues by year-end

[I]  Govt amends SEZ rules to include value addition, tighter norms for renewal, work from home

[I]  Finance Ministry eyeing part of non-core asset sale proceeds of CPSEs as dividend

 

BUSINESS STANDARD

[I]  To meet fiscal target, govt to compress spending by Rs 60,000 crore

[I]  EC announces 7-phase Lok Sabha election from April 11; results on May 23

[I]  Retail payments through Aadhaar-linked BHIM mobile app see declining trend

[I]  India, Saudi Arabia to revive work on $44-billion West Coast refinery

[I]  Petrol, diesel prices to be low during elections; OMCs asked to keep check

[I]  Small Finance Banks, banks cede MFI market share to NBFCs

[I]  Borrowing cost for companies to go up on Sebi's new framework

[I]  Mortgage guarantee makes home loans accessible but it comes at a cost

[I]  India is turning into hub of illegal ephedrine trade, says report

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 11046;  USDINR DGCX: 70.1225;  DJIA Mini: 25447;  FTSE 100 Fut: 7150;  NIKKEI 225 Fut: 21069;  EUR-USD: 1.1232; Crude Oil (WTI): 56.37;  Gold (Spot): 1297

 

Best Regards, ARBIND
11 Mar 2019