MACRO ECONOMIC NEWS

WHEN WE SEE OURSELVES IN OTHERS, IT IS IMPOSSIBLE TO HURT ANYONE ELSE. WISHING A COMPASSIONATE DAY AHEAD.

Macro Economic News 27 Mar 2019

 

The U.S. consumer confidence declined to 124.1 in March from 131.4 in February. India still tops in consumer optimism. Home buyers, often millennials, are again trekking to the distant reaches of cities in search of affordable housing, even if that means a long commute. A gauge of home building across the U.S. declined in February, driven by a drop in single-family home construction. Home-price growth slowed for the 10th straight month in January, providing critical relief to buyers heading into the spring selling season. 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.

 

FINANCIAL TIMES

[I]  EU leaders urge China to open up domestic market

[I]  European Parliament backs overhaul of EU copyright rules

[I]  Fund managers turn activist in bid to prove their worth

[I]  Trump had chance to gain greater leverage over China but blew it

[I]  Companies cannot afford to ignore older workers

[I]  EU copyright reforms are harsh but necessary

[I]  UK minimum pay policy needs careful handling

[I]  With Brexit we are in danger of losing our inalienable human rights

 

REUTERS

[I]  India seeks bids for $5 billion in transmission lines to fuel renewables growth

[I]  China's January-February industrial profits tumble 14 percent year-on-year

[I]  U.S. labor unions say NAFTA replacement does not go far enough for workers

[I]  Dollar holds gains as risk appetite recovery arrests yield decline

[I]  China business activity recovering thanks to "credit-soaked" quarter: Beige Book

[I]  U.S. housing, consumer confidence data point to slowing economy

[I]  Brexit turmoil hits UK firms' hiring plans: REC

 

BLOOMBERG 

[I]  U.S., China Trade Talks to Resume as Trump Vows ‘Excellent’ Deal

[I]  Fed Worries Worsen, PBOC Goes Easy on Gas, Trade Talks: Eco Day

[I]  PBOC Expected to Adopt More Moderate Stimulus in 2019

[I]  RBNZ Says Next Rate Move More Likely to Be Down; Kiwi Slumps

[I]  Argentine Peso Seen Avoiding Collapse After Hitting Record Low

[I]  Why China’s Bond Market Is About to Get Less Exotic

[I]  World’s Deepest Rate Cuts Beckon in Egypt

[I]  Recession Checklist Has More Than One Item, Curve Skeptics Say

 

WALL STREET JOURNAL

[I]  U.S. Consumer Confidence Declined in March

[I]  A Decade After the Housing Bust, the Exurbs Are Back

[I]  Home Building, New-Home Permits Have Softened This Year

[I]  Home-Price Growth Slows Heading Into Spring

[I]  Fed’s Daly: Changes in Labor Market Explain Some of Tepid Wage Gains

[I]  Real Time Economics: The Accurate Economist, Diving Bond Yields and a More Politicized Fed

[I]  Real Time Economics: Yes, the Economy Is Slowing

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

 

BUSINESS LINE

[I]  India’s energy demand outpaces global growth

[I]  RBI injects Rs. 34,500 crore via forex swap auction

[I]  Statutory dues are part of operational credit: NCLAT

[I]  Centre may look at diluting stake in PSUs to below 51% without ceding control

[I]  India must support proposals to end crisis over WTO’s dispute-settlement system, says expert

[I]  Refocus scope of Finance Commission, reinvent NITI Aayog with greater powers: YV Reddy

[I]  India still tops in consumer optimism: report

 

ECONOMIC TIMES

[I]  RBI sets high cut-off premium at debut dollar-rupee swap auction

[I]  More liquidity tools? RBI's $5 bn forex swap is a test case

[I]  At only 3%, Corporate India is still struggling to bring women to the top

[I]  Raghuram Rajan raises doubts about India growing at 7%, says cloud over GDP data needs to be cleared

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

[I]  No country for evaders: This April 1, India enters uncharted tax territory

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

 

BUSINESS STANDARD

[I]  Great Indian promoter sale: Strategic deals with foreign players on rise

[I]  RBI's rupee-dollar swap auction to ease liquidity gets a big thumbs up

[I]  Finally, Indian pharmaceutical industry scores on compliance with USFDA

[I]  Companies are adopting technologies to meet business and customer needs

[I]  From consumer goods to textile sectors: The great polarisation in India Inc

[I]  Regulatory board for gold gets Finance Ministry nod, ball in PMO court

[I]  Collapse in farm jobs reason behind rising unemployment, shows NSSO data

[I]  Masala bond market revives as rupee gains and tax cut lures buyers

 

MARKETS (08:15 am)

[I]  SGX NIFTY Fut: 11506;  USDINR DGCX: 69.4050;  DJIA Mini: 25662;  FTSE 100 Fut: 7134;  NIKKEI 225 Fut: 21298;  EUR-USD: 1.1257; Crude Oil (WTI): 60.03;  Gold (Spot): 1317

 

Best Regards, ARBIND
27 Mar 2019