MACRO ECONOMIC NEWS

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Macro Economic News 29 Aug 2019

 

India set to outlaw six single-use plastic products. India eases foreign investment rules for several sectors to boost growth. India Ratings & Research (Ind-Ra) lowered its projections on India’s GDP growth rate by 60 basis points to 6.7 per cent during the current fiscal year.  Global bond yields flirted with record low levels while stocks struggled to recover as economic turbulence from intensifying U.S-China frictions and the spectre of a no-deal Brexit drove investors to safer harbours. Lawmakers and 2020 candidates offer a range of options focused on capturing some of the trillions of dollars in assets belonging to the nation’s richest. South Korea’s birth rate falls to new developed world low.

 

FINANCIAL TIMES

[I]  Uproar as Johnson shuts parliament to protect Brexit

[I]  De Beers hits a rough patch as diamond sales slide

[I]  US expresses alarm over South Korea rift with Japan

[I]  Israel’s shadow war against Iran laid bare by raids

[I]  Decline in new German wind farms sparks concern

[I]  South Korea’s birth rate falls to new developed world low

[I]  Australia targets Chinese influence on university campuses

 

REUTERS

[I]  India set to outlaw six single-use plastic products: sources

[I]  India eases foreign investment rules for several sectors to boost growth

[I]  India to provide subsidy to export 6 million tonnes sugar in 2019/20

[I]  British PM to suspend parliament before Brexit, opposition denounces 'coup'

[I]  BOJ policymaker warns of dangers of more monetary easing

[I]  Argentina says to extend maturities of international bonds, IMF debt

[I]  Bond yields near record lows, shares struggle on darkening global outlook

[I]  Rate cuts not enough to re-fire damp India housing market: Reuters poll

[I]  Brazil says India's subsidy will extend cycle of low sugar prices

 

BLOOMBERG 

[I]  China’s Slowdown Deepens in August, Early Indicators Show

[I]  Daly Says Low U.S. Inflation Means Fed Can Draw More Job Gains

[I]  Worst Unemployment in Decades Strains Indian Consumer Loans

[I]  Argentina Seeks to Extend Maturity of $101 Billion of Debt

[I]  These Are the Safest Cities in the World Right Now

[I]  U.S. Yield Curve Steepens as Mnuchin Considers Longer-Term Bonds

[I]  As Bets on an Argentina Default Grow, IMF Is Last Bastion of Hope

[I]  Mexico Central Bank Cuts Growth Forecast to Lowest Since 2009

[I]  U.S. Corporate Bonds Are Having the Best August in Four Decades

 

WALL STREET JOURNAL

[I]  Has America’s China Backlash Gone Too Far?

[I]  Fed’s Barkin Not Convinced Low Inflation Calls for Rate Cut

[I]  Transcript: WSJ Interview With Dallas Fed President Robert Kaplan

[I]  Fed Rejects Call to Consider Politics in Policy Decisions

[I]  Home-Price Growth Continued to Slow in June

[I]  Democrats’ Emerging Tax Idea: Look Beyond Income, Target Wealth

 

BUSINESS LINE

[I]  Ind-Ra cuts growth estimate for current fiscal to six-year low of 6.7%

[I]  Auto parts, leather sectors see opportunities in US-China trade war, but challenges exist

[I]  Union cabinet meet: Govt eases FDI rules for single-brand retail

[I]  EV sector is a challenge and an opportunity: ARAI director

[I]  FPI surcharge rollback: No differential regime between foreign, domestic investors, says CBDT

[I]  Rate cuts not enough to revive property market growth

 

ECONOMIC TIMES

[I]  India's economic woes may improve by March

[I]  Worst unemployment in decades strains Indian consumer loans

[I]  New sops to check yarn exports fall

[I]  US-China trade dispute presents opportunity for India

[I]  India and Russia eye dairy, diamond biz to give age-old ties a new shine

[I]  After incentives to perk up economy, red carpet for FDI

 

BUSINESS STANDARD

[I]  FDI norms eased for single brand retail, digital media, manufacturing

[I]  Nothing much in stimulus to make consumers happy, say carmakers

[I]  OMCs bounce back to sweet spot as crude oil prices slip, GRMs improve

[I]  Indian IT majors face employment issues with local hiring in US

[I]  RBI may drop dividend next year, likely to have changed methodology

[I]  India Ratings cuts growth forecast for FY 2019-20 to 6-year low at 6.7%

[I]  Unhappy with surcharge, private market investors bat for tax parity

[I]  India's MF sector among most concentrated asset management industries

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 11021;  USDINR DGCX: 72.1125;  DJIA Mini: 25968;  FTSE 100 Fut: 7088;  NIKKEI 225 Fut: 20410;  EUR-USD: 1.1082; Crude Oil (WTI): 55.62;  Gold (Spot): 1542

 

Best Regards, ARBIND

29 Aug 2019