MACRO ECONOMIC NEWS

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Macro Economic News 18 Jul 2019

 

Indian Government to prepare national data on unorganised sector and floats idea for Aadhaar-like database for mapping citizen health. New data showing the toll that trade tensions are taking on China’s economy are merely a symptom of a more serious malaise: The country’s state-led growth model is running out of gas. American businesses see economic activity expanding at a modest pace despite lingering fears over trade. Progress toward a U.S.-China trade deal has stalled while the Trump administration determines how to address Beijing’s demands that it ease restrictions on Huawei Technologies. Home building in the U.S. declined in June, a fresh sign of weakness in the housing market. Young people struggle in eurozone’s two-tier labour market. UK's fiscal watchdog warns of recession in 2020 in case of 'no-deal' Brexit. BOE Policy Makers' Case for Rate Hikes Gets Thin. Japan Exports Fall a Seventh Straight Month Amid Global Slowdown.

 

FINANCIAL TIMES

[I]  France and US at loggerheads over levy on Big Tech

[I]  India’s health records plan raises privacy worries

[I]  Zuma on brink of inquiry walkout

[I]  European capitals cool on Carney in IMF race

[I]  Young people struggle in eurozone’s two-tier labour market

[I]  Australian bank regulator to gain powers after critical review

[I]  China’s surplus with trading partners falls into balance

[I]  Lower US interest rates squeeze bank lending margins

[I]  US rail freight declines signal economic weakness

 

REUTERS

[I]  India aims to expel all illegal migrants, Amit Shah says

[I]  Millions stranded in India as early monsoon downpours bring flood havoc

[I]  Sliding Japan exports, manufacturing gloom heighten economic risks

[I]  Japan manufacturers' mood hits three-year low - Reuters Tankan

[I]  ECB to cut rates in September, QE 2.0 still on the cards - Reuters poll

[I]  Bank of England expects balance sheet to halve when QE reversed

[I]  UK's fiscal watchdog to warn of recession in 2020 in case of 'no-deal' Brexit - The Times

[I]  U.S. House rejects Saudi weapons sales; Trump to veto

[I]  U.S. House votes to set aside impeachment resolution against Trump

[I]  U.S. housing market stuck in a rut even as mortgage rates fall

 

BLOOMBERG 

[I]  Japan Exports Fall a Seventh Straight Month Amid Global Slowdown

[I]  Yield-Hungry Foreigners Snap Up Indian Bonds. Local Banks Sell

[I]  Investors Gorge on African Bonds, But They’re Dodging Stocks

[I]  BOE Policy Makers' Case for Rate Hikes Gets Thin

[I]  Indonesia Is Poised for Its First Rate Cut in Two Years

[I]  Risk Is Ramping Up in Property CLOs Revived After the Crisis

[I]  Almost 40% of U.S. Homes Are ‘Free and Clear’ of a Mortgage

[I]  Bonds Risk Summer Pain Trade as Inflation Hedging Surges

 

WALL STREET JOURNAL

[I]  China’s State-Driven Growth Model Is Running Out of Gas

[I]  Fed’s Beige Book Reports Modest Growth, Trade Worries

[I]  U.S.-China Talks Stuck in Rut Over Huawei

[I]  Front-Runner List to Lead IMF Narrows to Eurozone Candidates

[I]  U.S. Housing Starts Fell in June

[I]  Pelosi Says Deal on Debt Ceiling, Spending Levels Needed by Friday

[I]  Fed’s George Suggests She’s Not Ready to Cut Rates

 

BUSINESS LINE

[I]  Centre steps in to put IBC cases back on track

[I]  Jalan panel moots transfer of RBI’s surplus in tranches over 3-5 years

[I]  Bill to amend companies law to be re-introduced

[I]  India, eight others caution WTO against reforms that worsen imbalances

[I]  Steel, cement prices plunge amid economic slowdown

[I]  Dearth of IT talent biggest issue today: Nasscom

[I]  ‘Low’ forming over East India expected to bring heavy rain

[I]  Organic farming acreage rises to 27.7 lakh hectares

 

ECONOMIC TIMES

[I]  India turns more welcoming for foreigners

[I]  IMF sees dangers from trade tensions, overvalued dollar

[I]  Govt may cap overseas borrowing at $5 billion this year

[I]  Bond market gets a licence to thrill

[I]  India and US bilateral trade at crossroads: Report

[I]  Transition to e-vehicles may take longer than 2030: TERI chief

[I]  No proposal to amend GPF rules to permit withdrawal for second house: Government

[I]  Government to prepare national data on unorganised sector

 

BUSINESS STANDARD

[I]  Sebi chief questions Budget plan for transfer of surplus funds to govt

[I]  Govt clears changes to insolvency law; secured lenders to get preference

[I]  FMCG sector slows down due to lower consumption in rural market

[I]  Bullish govt bonds reflect slowdown in global and domestic economies

[I]  June-end foodgrain stocks hit new peaks, grain buffer 81% above norms

[I]  Economic Affairs Committee approves India's largest hydro-electric project

[I]  Should we reverse nationalisation of banks? 50 yrs later, the debate is on

[I]  Govt floats idea for Aadhaar-like database for mapping citizen health

[I]  Investors from Singapore and Cyprus may come under tax scrutiny in India

 

MARKETS (07:00 am)

[I]  SGX NIFTY Fut: 11644;  USDINR DGCX: 68.8600;  DJIA Mini: 27145;  FTSE 100 Fut: 7447;  NIKKEI 225 Fut: 21150;  EUR-USD: 1.1234; Crude Oil (WTI): 56.66;  Gold (Spot): 1424

 

Best Regards, ARBIND

18 Jul 2019