MACRO ECONOMIC NEWS

GOD BECOMES OUR FUNDRAISER, THE MOMENT WE ARE FULL OF LOVE TO DO SOMETHING FOR SOCIETY. WISHING A PASSIONATE DAY AHEAD.

Macro Economic News 03 May 2019

 

India has accelerated efforts to evacuate more than a million people along its northeast coastline as a cyclone intensifies ahead of landfall on Friday, with thousands of villagers piling household possessions on to trucks before fleeing their homes. The U.S. continues to be on a path to an expanding national debt. U.S. workers’ efficiency improved during the past year at the best pace in nearly a decade, laying groundwork for stronger wage growth and continued economic expansion. Small banks and credit unions could get a break on providing mortgage data to the government, reducing the amount of borrower information collected under a law aimed at preventing lending bias.

 

FINANCIAL TIMES

[I]  Iranian women try to put gloss on economic hardship

[I]  HK protesters step up opposition to extradition law

[I]  Hawkish eurozone states demand more curbs to budget plan

[I]  US labour leader warns of ‘inferior’ China trade deal

[I]  Mexico warns of North American trade deal ratification delay

[I]  US factory orders rise by most in seven months in March

[I]  US declining interest in history presents risk to democracy

[I]  Elite gathering reveals anxiety over ‘class war’

 

REUTERS

[I]  India evacuating 1.2 million people as Cyclone Fani menaces east coast

[I]  Dollar gets yield support into payrolls test

[I]  Irish services growth slows in April as Brexit hits sales: PMI

[I]  India's April jobless rate rises to 7.6 percent: CMIE

[I]  Weddings, lower prices could lift Indian gold demand in June quarter: WGC

[I]  U.S. Q1 productivity strongest since 2014, labor costs subdued

[I]  Global Economy: Factories on the mend in April but still struggling

[I]  U.S.-China talks show progress on cloud computing - U.S. Chamber official

[I]  Pakistan inflation eases to 8.82 percent in April: statistics bureau

 

BLOOMBERG 

[I]  Moore Bails as Trump’s Fed Pick Hours After ‘I’m All In’ Pledge

[I]  Bank of England Set for Faster Rate Hikes If Brexit Resolved

[I]  Hedge Funds Resurrect CDO Trade. This Time They Say It Will Work

[I]  Euro-Area Factory Slump Eases in April as Italy Exceeds Estimate

[I]  Central Banks Are Ditching the Dollar for Gold

[I]  U.S. Jobs Data, Trump's Fed Losing Streak, ECB Optimism: Eco Day

[I]  $42 Billion Loss Not End of Road for Faltering India Car Stocks

[I]  The Philippines Plans a Government Spending Spree

 

WALL STREET JOURNAL

[I]  Washington’s Biggest Lobbyist, the U.S. Chamber of Commerce, Gets Shut Out

[I]  CBO Sees National Debt Continuing to Grow

[I]  U.S. Worker Productivity Advances at Best Rate Since 2010

[I]  Plan Aims to Ease Mortgage-Reporting Rules

[I]  Bundesbank Head Cautions ECB on Delayed Return to Normal Policy

[I]  U.S. Jobless Claims Hold Steady at End of April

 

BUSINESS LINE

[I]  Economy slowed down slightly in 2018-19: FinMin

[I]  Auto sales dip for 10th month; weak buyer sentiment aggravated by elections

[I]  Creeping inflation, muted exports are key challenges for the economy: Report

[I]  Smuggling of tresses leaves exporters tearing at their hair

 

ECONOMIC TIMES

[I]  Millions caught in the eye of India's worst cyclone in 20 years

[I]  Half of US' int'l students are desis, Chinese

[I]  Global funds want more disclosure before buying India muni debt

[I]  Bond traders dabble with irrational exuberance

[I]  Organisations need to reinvent to be more human: Deloitte report

[I]  Repo rate cut transmission yet to happen: Finance Ministry Report

[I]  Huge gap in 12 NPA cases' dues with liquidation value: IBBI

[I]  India-Russia must focus on high-tech sector to push trade volume to $ 30 bn by 2025: Study

[I]  Slow down in FY19 on demand, investment, exports: FinMin report

[I]  Inflation forecasts not accurate at times of low food inflation: RBI study

[I]  Manufacturing activity slows further in April

 

BUSINESS STANDARD

[I]  NBFC crisis may push up borrowing costs for real estate developers

[I]  Centre's tax revenue at Rs 13.2 trillion in FY19, missed target by 11%

[I]  Rs 7 trillion of corporate papers downgraded since start of IL&FS fiasco

[I]  Passenger vehicle sales drop the most in 6 years in April; Maruti worst hit

[I]  Two-wheeler sales fall in April as makers avoid stockpiling at dealerships

[I]  India Inc stares at exodus of independent directors as new norms bite

[I]  Govt plans to reduce GST rate and basic customs duty on gold

[I]  April manufacturing PMI growth at 8-month-low amid election uncertainty

 

MARKETS (07:00 am)

[I]  SGX NIFTY Fut: 11741;  USDINR DGCX:69.7150;  DJIA Mini: 26252;  FTSE 100 Fut: 7292;  NIKKEI 225 Fut: 22350;  EUR-USD: 1.1174; Crude Oil (WTI): 61.76;  Gold (Spot): 1271

 

Best Regards, ARBIND
03 May 2019