MACRO ECONOMIC NEWS

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Macro Economic News 26 Mar 2019

Burgeoning use of the U.S. currency in Venezuela is feeding inequality, with holders of it able to weather hyperinflation and a disastrous economy, as the rest of the population drifts deeper into poverty. Venezuela’s decline is now deeper than that of the Soviet Union after its breakup, and comparable only to Zimbabwe’s in the late 1990s, economists say. The U.S. and China are nearing the finish line of a trade dispute that has hurt the world’s two largest economies. Charles Evans, a voting member of the Federal Reserve’s interest-rate-setting committee, said he wants to see more evidence of higher inflation before nudging benchmark rates upward.

 

FINANCIAL TIMES

[I]  Emerging markets reverse last year’s blitz of rate rises

[I]  Oil majors and utilities begin battle for power

[I]  EU warns no-deal Brexit is ‘increasingly likely’

[I]  Global carbon dioxide emissions hit record high

[I]  New Zealand PM to visit Beijing amid trade concerns

[I]  Banks ramp up plans for ‘hard Brexit’

 

REUTERS

[I]  Fed should consider holding more short-term bonds: Rosengren

[I]  Global strain stirs BOJ debate of more easing in March

[I]  Gold near one-month peak as yields, equities slide

[I]  Oil prices rise amid supply cuts, but economic slowdown looms

[I]  British lawmakers vote to seize control of Brexit for a day

[I]  Global strain stirs BOJ debate of more easing in March

[I]  U.S.-China trade war poses biggest risk to global stability: IMF's Lipton

[I]  Former Fed chair Yellen says yield curve may signal need to cut rates, not a recession

 

BLOOMBERG 

[I]  What to Watch at Boao, Fed Evokes 1998, Korea Shortfall: Eco Day

[I]  China's Efforts to Make Yuan Rate More Transparent Gain Momentum

[I]  South Korea Needs $9 Billion in Extra Spending to Prop Up Economy: Survey

[I]  Global Trade Takes Sharp Turn Down With Biggest Drop Since 2009

[I]  Leveraged Loans Are the Weakest Link in U.S. Credit, UBS Says

[I]  Homebuilders On Pace for 6-Month Closing High

[I]  Evans Sees Lessons From 1998 Rate Cuts for Fed Policy This Year

 

WALL STREET JOURNAL

[I]  Venezuela’s Two Realities: People With Dollars and Those Without

[I]  Venezuela’s Economic Collapse Explained in Nine Charts

[I]  What a U.S.-China Trade Deal Might Look Like

[I]  Aided by Strong Economy, U.S. Labor Force Beats Forecasts

[I]  Chicago Fed President Evans Doesn’t See Rate Rise Until Second Half of 2020

[I]  Economy Week Ahead: New U.S. Housing and Trade Data

[I]  Moore Says Fed’s Pivot Validates Criticism of Rate Increases

 

BUSINESS LINE

[I]  Combating the odds and scaling new peaks

[I]  How PSU divestment could eventually lead to privatisation

[I]  Upgraded input tax reimbursement scheme to be extended to all textiles

[I]  European Union prepares for ‘no deal’ Brexit

[I]  More women take to entrepreneurship, launch businesses

[I]  FSSAI to clamp down on artificial ripening of fruits using banned substances

[I]  Tight liquidity pushes HFCs to take portfolio sell-down route

 

ECONOMIC TIMES

[I]  Guatemala drags India to WTO's dispute mechanism over sugar subsidies

[I]  Food inflation may rise up to 2% in FY20: Report

[I]  Liquidity status, fiscal deficit under control: Government

[I]  Weak exports, rural distress, uncertainty over election outcome to drag down IIP: Report

[I]  Rules to revive companies before liquidation to come out soon

[I]  12,000 cases filed since implementation of insolvency law, setting up of NCLT, says official

[I]  RBI appoints 5-member committee to enhance digital payments

 

BUSINESS STANDARD

[I]  From April 1, I-T dept to check taxpayer's profiles under Project Insight

[I]  Job creation dips 6.9% in January to 1.12 million, says ESIC data

[I]  Shunned by world, US sanction-hit nations' cheap oil finds haven in China

[I]  Sebi clarifies on MF expenses, commissions for first time investors

[I]  'Intermediate supplier can export through the ultimate exporter'

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 11358;  USDINR DGCX: 69.3050;  DJIA Mini: 25643;  FTSE 100 Fut: 7118;  NIKKEI 225 Fut: 21362;  EUR-USD: 1.1316; Crude Oil (WTI): 59.18;  Gold (Spot): 1321

 

Best Regards, ARBIND
26 Mar 2019