MACRO ECONOMIC NEWS

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Macro Economic News 08 Mar 2019

                                                                                                                                                       

The European Central Bank made a U-turn with new plans to stimulate the Eurozone’s faltering economy, while Federal Reserve officials signalled increasing reluctance to raise U.S. interest rates at all, as evidence mounts of a slowing global economy. The ECB unveiled plans for fresh measures to stimulate the faltering economy less than three months after phasing out a $2.9 trillion bond-buying program. A new paper sheds light on why countries with higher levels of government debt relative to the size of their economies typically fare worse after financial crises than countries with lower debt levels.

 

FINANCIAL TIMES

[I]  ECB unveils fresh bank stimulus amid eurozone gloom

[I]  Global regulators launch inquiry into leveraged loans

[I]  S Africa energy regulator rules out big tariff rise

[I]  China’s economy 12% smaller than official data say, study finds

[I]  Fear versus socialism — America’s looming choice

[I]  Africa’s women are rising to challenge discrimination

 

REUTERS

[I]  UK must not win trade deals by going soft on economic crime after Brexit: lawmakers

[I]  Asia stocks slip as ECB reversal rattles markets

[I]  Japan fourth-quarter GDP revised up to 1.9 percent annualized growth

[I]  Dark days ahead for rupee over trade, election jitters: Reuters poll

[I]  'Pervasive uncertainty' pushes top central banks to patient stance

[I]  China tightens rules on wealth management, boosting prospects for foreign banks

[I]  UK PM May to EU: Agree to backstop changes or risk disorderly Brexit

[I]  Under pressure, Canada's Trudeau denies impropriety, offers no apology

[I]  ECB pushes out rate hike, offers cheap cash to banks

[I]  Fed's Brainard sees fewer U.S. rate hikes

 

BLOOMBERG 

[I]  The Fed and ECB Confront a New Normal That Looks a Lot Like Japan's

[I]  China's Factories Are Struggling to Hire Enough Workers

[I]  Some ECB Officials Doubt 2019 Outlook Even After Cut

[I]  Investors Brace for a Bumpy Road as Brazil Starts Pension Reform Talks

[I]  A Crucial Source of Funding for Indian Founders Is Drying Up

[I]  U.S. Small-Business Job Creation Is at Record But Hiring Plans Drop

[I]  Australian Dollar’s Roller-Coaster Day Leaves Traders Gasping for Breath

 

WALL STREET JOURNAL

[I]  Slow Growth Prods Central Banks

[I]  February Jobs Report Expected to Show Continued Strength

[I]  Trump Administration Proposes Expanding Overtime Coverage

[I]  Productivity Growth Shows Signs of Long-Awaited Strength

[I]  Stock-Market Volatility Takes a Bite Out of U.S. Households’ Net Worth

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

[I]  ECB to Launch New Stimulus in Major Policy Reversal

[I]  New Overtime Rule Expected to Boost Pay Eligibility

[I]  Fed Economists Find Tight Labor Market Can Give Boost to Marginalized Workers

[I]  Policy Makers’ Debt Fears Can Worsen Downturns, Say Researchers

 

BUSINESS LINE

[I]  Cabinet allows ministerial panel to decide on price, timing of divestment

[I]  Government clears interest subvention scheme for farmers

[I]  CBDT concession to start-ups: SC directions may queer pitch

[I]  Angel Tax: Will completely nail 'angel tax' problem with 'accredited investor'

[I]  Shrinking rice, wheat acreage pulls down rabi sowing

[I]  To beat rising interest rates, tight liquidity, housing finance firms take the ECB route

[I]  Bank credit shifts from industrial sector to retail segment

[I]  RBI allows white label ATM operators to source cash, generate income from ads

 

ECONOMIC TIMES

[I]  This is the year of startup IPO, like it or not

[I]  Govt may be staring at huge revenue shortfall

[I]  Women asset managers to control $72 trillion by 2020! Look what it means

[I]  RBI notifies 2% interest subsidy scheme for short-term crop loans

[I]  Finance Ministry stares at direct tax revenue shortfall by Rs 70,000 crore to Rs 1 lakh crore

[I]  India unlikely to move WTO as US scraps special tariffs

[I]  Eight sectors to add over 10 crore jobs by 2025: CII

[I]  Few takers for many PSUs put up for sale

 

BUSINESS STANDARD

[I]  Govt approves projects, revival scheme worth Rs 31,000-cr for power sector

[I]  Future of communication is encrypted, private messaging: Mark Zuckerberg

[I]  Relief for industry as govt clears air on levy of GST on promotional offers

[I]  GST exemption limit of Rs 40 lakh for SMEs to be effective from April 1

[I]  US trade deficit with India down by 7% to $1.6 billion in 2018

[I]  Women's employment plunges to 26% in 2018 from 36.7% in 2005: Report

 

MARKETS (06:30 am)

[I]  SGX NIFTY Fut: 11044;  USDINR DGCX: 70.3500;  DJIA Mini: 25478;  FTSE 100 Fut: 7143;  NIKKEI 225 Fut: 21252;  EUR-USD: 1.1192; Crude Oil (WTI): 56.40;  Gold (Spot): 1286

 

Best Regards, ARBIND

08 Mar 2019