MACRO ECONOMIC NEWS

ABUNDANCE OF PEACE, PROSPERITY AND HAPPINESS IS AROUND THE WAY. WISHING A WELCOMING WEEK AHEAD.

Macro Economic News 22 Jul 2019

 

Central banks around the world are poised to unleash the most synchronized monetary stimulus since the financial crisis one decade ago. Federal Reserve officials signalled they are ready to cut interest rates by a quarter-percentage point at their coming meeting, while indicating the potential for additional reductions. ECB plans to restart government bond purchases by November. China's $40 Trillion Banking System Learns a Hard Lesson on Risk, while the upheaval has underscored the fragility of some smaller banks and adds to short-term headwinds buffeting the economy. Some Chinese companies are seeking new purchases of U.S. agricultural products, as Beijing and Washington look for ways to end a protracted trade war. Emissions allowances in Europe almost doubled in the past year, and supplies are likely to dry up in August with lower auction volumes. Prime Minister Shinzo Abe's ruling bloc won a solid majority in Japan's upper house election, but fell short of the two-thirds majority needed to push ahead with revising the pacifist constitution. Indian Govt looks on the way to cut stake in PSUs to up to 26%. 345 infra projects show cost overruns of Rs 3.28 lakh cr. Hit by slowdown, auto-makers gear for retail push, rural pit-stop.

 

FINANCIAL TIMES

[I]  Fed sets sights on quarter-point rate cut

[I]  US retailers quicken exit from malls as online shopping bites

[I]  Abe’s coalition secures victory in elections for Japan’s upper house

[I]  Latin America tested by lack of medium companies and middle class

[I]  Spain’s socialists close in on deal to make Sánchez PM

[I]  US banks boosted by rise in credit card spending

[I]  Investors urge cement makers to cut emissions

[I]  Do not treat the IMF as an EU consolation prize

 

REUTERS

[I]  UK weighs response to Gulf crisis with few good options

[I]  IMF says Pakistan needs to mobilize tax revenue, cut debt

[I]  European Commission draws aid package for Ireland: The Times

[I]  EU braces for no-deal Brexit or another delay under Johnson

[I]  Chinese companies looking to buy U.S. farm products: Xinhua

[I]  Japan pro-constitution reform forces fall short of 2/3 upper house majority: NHK

[I]  Global Economy: Will ECB walk or just talk as rate circus comes to Europe?

[I]  ECB plans to restart government bond purchases by November: Spiegel

 

BLOOMBERG 

[I]  Powell Preference and FOMC Split Support Quarter-Point July Cut

[I]  Taiwan Stocks Offer Hefty Yield But Investors Still Selling

[I]  China's $40 Trillion Banking System Learns a Hard Lesson on Risk

[I]  Emerging Markets May Get Tough Lesson From Turkey on Complacency

[I]  RBI Governor Sees Positives for India Economy: Interview Transcript

[I]  India Closely Monitoring 50 Shadow Banks for Signs of Contagion

[I]  RBI Chief Says India's Interest-Rate Stance Now Depends on Data

[I]  Record Low-Yielding French Samurai Is a Hit in Negative World

[I]  Turkey's Mission to Lower Rates Could Take Longer After Shake-Up

[I]  Libya Oil Output at Lowest in Five Months as Some Exports Halted

[I]  What to Watch in U.S. Corporate Credit Markets This Week

[I]  Pollution Costs In Europe Near the Level Where They Really Matter

 

WALL STREET JOURNAL

[I]  Fed Officials Signal Quarter-Point Rate Cut Likely at July Meeting

[I]  Debt-Ceiling and Spending Negotiations Split Republicans

[I]  Central Banks Are in Sync on Need for Fresh Stimulus

[I]  Restaurants Sweeten Pay and Perks to Find Scarce Workers

[I]  Economy Week Ahead: Home Sales, Eurozone Manufacturing

[I]  Boston Fed’s Rosengren Says Recent Economic Developments Have Been Positive

 

BUSINESS LINE

[I]  Hit by slowdown, auto-makers gear for retail push, rural pit-stop

[I]  Taxman to get fresh ammo in fight against evaders fleeing abroad

[I]  Staff of public sector banks keen to re-start wage talks

[I]  GST Council meet on July 25 likely to consider lowering rate on EVs

[I]  Thanks to stable NPAs, small units ripe for lending by banks: CIBIL

 

ECONOMIC TIMES

[I]  Govt looks to cut stake in PSUs to up to 26%

[I]  RBI has an advice for IMF, World Bank

[I]  Delhi: Tomato prices surge up to Rs 80 per kg as monsoon disrupts supply

[I]  India sews coalition of 9 nations to push development at WTO

[I]  CII report identifies 31 items to boost India's exports

[I]  345 infra projects show cost overruns of Rs 3.28 lakh cr

 

BUSINESS STANDARD

[I]  Q1 results: Net profit of 113 firms up 10.8%, sales growth at 10-qtr low

[I]  After 12 years, RBI set to modify fit-and-proper norms for bank directors

[I]  Can we pass an arrest order under insolvency law, NCLAT asks Centre

[I]  Statsguru: India's population profile explained through six charts

[I]  There is a degree of uncertainty over GST collections of states: N K Singh

[I]  Need focus on key exports to boost India's global share, says CII

[I]  Mutual fund Industry adds 529,633 folios in June: Here're the details

 

MARKETS (07:00 am)

[I]  SGX NIFTY Fut: 11404;  USDINR DGCX: 68.9600;  DJIA Mini: 27136;  FTSE 100 Fut: 7445;  NIKKEI 225 Fut: 21370;  EUR-USD: 1.1213; Crude Oil (WTI): 56.06;  Gold (Spot): 1425

 

Best Regards, ARBIND
22 Jul 2019