MACRO ECONOMIC NEWS

EACH MORNING WE ARE BORN AGAIN WITH A SMILE. WISHING AN ENLIGHTENED DAY AHEAD.

Macro Economic News 02 Apr 2019

 

 

Manufacturing activity in the world’s two largest economies perked up in March, though pockets of weakness remain and the outlook is uncertain. Retail sales, an important measure of consumer spending, fell in February, pointing to modest spending as the first quarter progressed. Neel Kashkari, one of the Federal Reserve’s most consistent opponents of interest-rate increases, says it isn’t the time for the central bank to cut borrowing costs. American factory activity accelerated in March to robust levels while employment surged, allaying concerns about a sharper-than-expected economic slowdown.

 

FINANCIAL TIMES

[I]  MPs urge break-up of Big Four accountancy firms

[I]  Markets not properly pricing in a no-deal Brexit — ECB vice-president

[I]  May and her ministers face stark choices on Brexit

[I]  Banks keep options open and hold fire on Brexit exodus

[I]  Global standards on Big Tech are sorely needed

 

REUTERS

[I]  Asian shares rise to seven-month high on U.S., China manufacturing rebound

[I]  Brexit deadlocked again: British parliament fails to find an alternative

[I]  Oil rises on Iran sanctions threat, Venezuela shutdown

[I]  U.S. Fed to consider changes to foreign bank rules, 'living will' requirements

[I]  Outlook for UK business darkens fast ahead of Brexit, BCC warns

[I]  Japan Inc's inflation expectations stagnate in blow to BOJ

[I]  Pakistan inflation hits 9.41 percent, highest in five years

 

BLOOMBERG 

[I]  U.K. Brexit Crisis Deepens as Commons Fails to Find Plan B

[I]  Iran Says OPEC+ Pact Will Be ‘Easy’ to Extend Beyond June

[I]  Leveraged Loans See Best Quarter Since 2010

[I]  Goldman Sees a ‘Big Finish’ for Brexit, Opportunity in the Pound

[I]  In Asia's Stealthy Rich City, the Ultra Wealthy Hide Their Hermes

[I]  Philippine Bonds Blow Away Global Peers as Inflation Slides

[I]  What Mistake Will We Make Next Time?

[I]  Indonesia's Market Selloff Seen as Just a Speed Bump for Bonds

[I]  U.K. Firms Least Likely to Invest in Eight Years as Brexit Bites

[I]  Asia Easing Bets, Brexit Deadlock, Australian Splurge: Eco Day

 

WALL STREET JOURNAL

[I]  U.S. and Chinese Manufacturing Stabilize, While Europe Lags Behind

[I]  U.S. Retail Sales Fell 0.2% in February

[I]  Fed’s Kashkari Says It Isn’t Time to Cut Rates

[I]  Census Optimistic About Filling Jobs for 2020 Count

[I]  Minneapolis Fed Chief Kashkari Says MMT Isn’t An Economic Theory

[I]  U.S. Factory Activity Accelerated in March

[I]  Real Time Economics: China’s Manufacturers Rebound, Europe’s Factories Sink

 

BUSINESS LINE

[I]  Airfares to fly high this summer

[I]  Core sector growth slows down to 2.1% in February

[I]  Growth of renewable energy pushes need for robust power-balancing infra

[I]  Natural gas price hiked by 10%

[I]  SEBI floats consultation paper on SRO

[I]  IMD expects ‘above-normal heat wave conditions’ to prevail in April-June period

[I]  Entrepreneurship is a marathon, not a sprint

 

ECONOMIC TIMES

[I]  India's auto industry is going through its worst slump in 5 yrs

[I]  Fiscal Deficit target looks closer on high GST mop-up

[I]  Govt can fund cash dole-outs with bonds or higher taxes: Report

[I]  FY19 direct tax collections fall short by Rs 50k cr

[I]  India, Arab World working towards long term energy & food security goals

[I]  India levies anti-dumping duty on solar cell component from four nations

[I]  India delays levying retaliatory tariff on US goods to May 2

 

BUSINESS STANDARD

[I]  FY19 closes on a happy note with record GST collections at Rs 1.06 trillion

[I]  March car sales skid; firms expect slow progress for some months

[I]  Sale of electoral bonds skyrocket by 62% in election year: RTI reply

[I]  RBI to again go for $5-billion dollar-rupee swap auction on April 23

[I]  Growing FPOs provide better market linkages to member-farmers: CRISIL

[I]  Vegetables prices skyrocket in major markets as supplies hit

[I]  RBI to introduce new seven-year and 20-year bonds on April 5

[I]  RBI tweaks NPA disclosure norms, asks banks to reveal bad loans

 

MARKETS (09:00 am)

[I]  SGX NIFTY Fut: 11758;  USDINR DGCX: 69.6550;  DJIA Mini: 26235;  FTSE 100 Fut: 7261;  NIKKEI 225 Fut: 21554;  EUR-USD: 1.1201; Crude Oil (WTI): 61.80;  Gold (Spot): 1287

 

Best Regards, ARBIND
02 Apr 2019