MACRO ECONOMIC NEWS

HAPPINESS IS WITHIN US; SOMETIMES ITS ON FRIDAY TOO. WISHING A HILARIOUS DAY AHEAD.

Macro Economic News 09 Aug 2019

 

Economists Upgrade U.S.-China Trade Conflict to ‘War’. Economists’ expectations for a September Federal Reserve rate cut rose sharply this month, along with their expectations for a recession in the next year. Falling bond yields are reviving the U.S. mortgage market at current rates, which are at their lowest level in almost three years. The Japanese economy grew at a faster pace than expected in the April-June quarter. Chinese exports rebounded in July, buoyed by increased shipments to Europe and Southeast Asia, but economists expect the turnaround to be short-lived. Philippines cuts rate again as growth hits 4-year low. Australia central bank governor says zero rate unlikely but possible.

 

FINANCIAL TIMES

[I]  UN warns of rising air temperatures over land

[I]  Portugal lures foreigners with tax breaks and anti-populist stance

[I]  Ethiopia takes first step to liberalising finance

[I]  Chinese exports rise in July despite trade war

[I]  Philippines cuts rate again as growth hits 4-year low

[I]  Investors move into automated homebuying market

[I]  Time for Japan to test radical forms of stimulus

 

REUTERS

[I]  India may exempt foreign portfolio investors from higher taxes: sources

[I]  Australia economy may be at turning point, rates to stay low: RBA

[I]  Australia central bank governor says zero rate unlikely but possible

[I]  China continued Iran oil imports in July in teeth of U.S. sanctions: analysts

[I]  Indian auto parts maker braces for plant shutdowns amid industry-wide crisis

[I]  U.S. labour market strong; Q2 GDP growth expected to be revised down

 

BLOOMBERG 

[I]  Trump's Assault Blunts China's Yuan Tool as Economy Slows

[I]  ‘Fearful’ Investors Are Reluctant to Sound All-Clear on U.S. Stocks

[I]  The Non-Weirdness of Negative Interest Rates

[I]  Investors Fleeing Negative Yields Fuel Private Debt Cash-Pile

[I]  Booming Travel Is Transforming Asian Airports Into Mini-Cities

[I]  China's Producer Price Index Contracts for First Time Since 2016

[I]  Investors Balk at Ultra-Low Yield in Treasury’s 30-Year Sale

 

WALL STREET JOURNAL

[I]  Economists Upgrade U.S.-China Trade Conflict to ‘War’

[I]  Economists See Greater Chance of September Rate Cut: WSJ Survey

[I]  Homeowners Rush to Refinance, Thanks to Falling Yields

[I]  Japan Posts Solid Growth in the Second Quarter

[I]  China Exports Stage Surprising Turnaround

[I]  Where the U.S.-China Trade Dispute Goes From Here

[I]  Real Time Economics: Fed Fights Headwinds, More Mixed Signals for Investors

 

BUSINESS LINE

[I]  India Inc seeks Rs 1 lakh cr stimulus package to kick-start investment cycle, revive growth

[I]  50 districts out of 600 account for half of all crop-cover claims: Official

[I]  Deep depression weakens but heavy rains to stay

[I]  Angel tax: CBDT comes out with assessment process for start-ups

[I]  Consumers’ confidence falls in July: RBI survey

[I]  Watershed programme key to develop degraded and rain-fed areas: Official

 

ECONOMIC TIMES

[I]  Finally, LTGC tax relief is around the corner

[I]  Rs 3 trillion of capital infusion only helped PSBs trim losses, not drive credit supply: India Ratings

[I]  Nearly half of Indians open to taking loan for improving lifestyle: Survey

[I]  CBDT raises limit for appeals to reduce litigations

[I]  Government likely to withdraw higher surcharge for FPIs

[I]  Industry 4.0: Making India smart and intelligent manufacturing hub

 

BUSINESS STANDARD

[I]  Income Tax dept relaxes assessment and scrutiny norms for start-ups

[I]  RBI's Usha Thorat panel for easier foreign play in currency market

[I]  No jail for CSR violation: FM Nirmala Sitharaman to business leaders

[I]  Centre to raise tariff barriers on imported solar and wind equipment

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 11064;  USDINR DGCX: 70.6725;  DJIA Mini: 26254;  FTSE 100 Fut: 7227;  NIKKEI 225 Fut: 20680;  EUR-USD: 1.1195; Crude Oil (WTI): 52.44;  Gold (Spot): 1507

 

Best Regards, ARBIND
09 Aug 2019