MACRO ECONOMIC NEWS

SMILE, IT IS THE REASON FOR MILLIONS TO SMILE. WISHING A SMILING DAY AHEAD.

Macro Economic News 01 Mar 2019

                                                                                                                                                       

The economy completed one of the best years of a nearly decade long expansion, growing at a modest pace despite turbulent markets, uncertainties about trade with China and a government shutdown in late December. White House Economist Confident Economic Growth Will Top 3% This Year. U.S. taxpayers reported 33.5% more in net capital-gains income in 2017 than in 2016, according to new IRS data that provide the first look at the final year before the Tax Cuts and Jobs Act took effect. Activity in China’s critical manufacturing sector fell to its lowest level in three years in February, weighed on by weak global demand and the long Lunar New Year holiday. Indian Economic growth slows to 6.6% in Oct-Dec quarter and Core sector growth slowing to 1.8% in Jan.

 

FINANCIAL TIMES

[I]  Trump and Kim fail to reach nuclear deal 

[I]  Chinese state-linked debt unsettles bond investors

[I]  Pakistan to return Indian air force pilot as ‘peace gesture’

[I]  US economic growth loses steam in fourth quarter

[I]  Indian economy grows at slowest quarterly pace in more than a year

[I]  Europe’s utilities battle for survival

[I]  US music spending hits highest in a decade

[I]  Regulatory showdown awaits for Big Tech

[I]  Britain should let foreign graduates stay and work

 

REUTERS

[I]  India welcomes Pakistan's return of captured pilot

[I]  India's diesel demand to hit record highs in 2019 as country goes to polls

[I]  U.S. wins WTO ruling on Chinese grains; decision may also affect India

[I]  Gold hits two-week low as upbeat U.S. data lifts dollar

[I]  China's manufacturing activity shrinks again in Feb but at slower pace

[I]  Dollar scales 10-week high vs. yen on upbeat U.S. GDP

[I]  IMF agrees to extend Sri Lanka's $1.5 billion loan by one year

[I]  Indian economic growth slips to 6.6 percent, slower than expected

[I]  Fed's Powell: 'Muted' inflation gives room for wages to rise

[I]  Japan final Feb manufacturing PMI confirms fastest pace of decline in two-and-a-half years

[I]  U.S. economic growth in 2018 misses Trump's three percent target

[I]  Trump says hopefully India, Pakistan conflict coming to an end

 

BLOOMBERG 

[I]  North Korea’s Kim Vows to Meet Trump Again After Summit Collapse

[I]  U.S. Prepares Final China Trade Deal as Hawks Urge Caution

[I]  Wall Street Bulls Get a Reality Check From China

[I]  Asia’s Factory Woes Drag Into February Though Signs of Hope Emerge

[I]  Indonesia’s Inflation Rate Drops to Lowest in Almost a Decade

[I]  Fed's Powell Sticks With Message of ‘Patient’ Approach on Rates

[I]  This Week’s Trade War: U.S. Wins Short Game, China Takes Long

 

WALL STREET JOURNAL

[I]  U.S. Economy Grew 2.6% in the Fourth Quarter

[I]  Capital Gains Jumped in Final Year Before Tax Cut Started

[I]  Tax Refunds Bounce Back After Slow Start

[I]  Jobless Claims Rose in Mid-February

[I]  Some States Are Sending Money Back to Taxpayers

[I]  China’s Factory Activity at Lowest Level in Three Years

[I]  Fed Chief Says U.S. Economy ‘Is in a Good Place’

[I]  White House Economist Confident GDP Will Top 3% This Year

 

BUSINESS LINE

[I]  Centre moves to integrate Kashmir with mainland India

[I]  Economic growth slows to 6.6% in Oct-Dec quarter

[I]  Why drug firms are re-imagining their roles

[I]  Nod for software products policy

[I]  Foodgrain output in 2018-19 seen at 281 mt in Second Advance Estimate

[I]  Usha Thorat-led task force to ensure stability of external value of rupee

 

ECONOMIC TIMES

[I]  A tax ruling could change how MNCs make money in India

[I]  US Oil imports at 23-year low, as Opec nations cut shipments

[I]  Gold hovers near 2 week lows as dollar gains on upbeat US data

[I]  Dollar near 10-week high vs yen on upbeat US GDP

[I]  RBI forms task force to see overseas Rupee

[I]  In manufacturing’s digital dream, lies a lot of hope

[I]  Core sector growth slows to 1.8% in Jan

[I]  Centre emphasises farmer's role in exports promotion

[I]  Record rice output to propel India’s foodgrain production to 281.37 million tonnes in 2018-19

[I]  Foodgrains production may fall 1% to 281.37 million tonne: Agriculture Ministry

[I]  Gram Samridhi Yojana: New scheme to help unorganised food processing sector

[I]  Cabinet approves promulgation of Ordinance allowing trusts to setup units in SEZs

 

BUSINESS STANDARD

[I]  Indian military signals de-escalation, warns Pakistan against 'provocation'

[I]  Real estate players see opportunity in the draft e-commerce policy

[I]  Govt may tweak jewellery hallmarking norms before making it mandatory

[I]  Robust demand for India Inc's overseas bonds despite India-Pak tensions

[I]  Iron ore prices rise by Rs 600-700 a tonne, but Karnataka prices down 15%

[I]  Non-food credit demand grew 13.1% in January, says RBI data

[I]  Govt will continue with policy to merge PSBs, says Arun Jaitley

[I]  RBI inks $75-billion bilateral swap arrangement with Bank of Japan

 

MARKETS (09:30 am)

[I]  SGX NIFTY Fut: 10793;  USDINR DGCX: 71.0700;  DJIA Mini: 26014;  FTSE 100 Fut: 7092;  NIKKEI 225 Fut: 21632;  EUR-USD: 1.1372; Crude Oil (WTI): 57.42;  Gold (Spot): 1313

 

Best Regards, ARBIND

01 Mar 2019