MACRO ECONOMIC NEWS

TODAY IS THE DAY I FEEL, FRIDAY IS NEXT. WISHING A DELIBERATE DAY AHEAD.

Macro Economic News 08 Aug 2019

 

Repo rate at nine-year low after RBI announces first-ever cut of 35 bps. Central bank unveils a slew of measures to boost consumer credit. India's retail inflation rose for the sixth straight month in July - the longest stretch of monthly increases since January 2016 - to a nine-month high, largely due to a continued rise in food prices, a Reuters poll predicted. India is set to relax rules for setting up fuel stations after almost two decades, in a move expected to allow companies like Saudi Aramco, Total and Trafigura to gain a foothold in a sector dominated by state-run entities. Three central banks in the Asia-Pacific region lowered interest rates in a surprisingly aggressive fashion as the fallout from the U.S.-China trade war intensified, suggesting the global rate-cut cycle will gather steam in the months ahead.

 

FINANCIAL TIMES

[I]  US stocks fight back amid mounting economic gloom

[I]  Indian central bank battles global slowdown with rate cut

[I]  UK accountancy firms prepare to cull risky clients

[I]  S Koreans vent anger with boycott of Japanese goods

[I]  German industrial output fall heightens fears of recession

[I]  China’s economy faces currency devaluation drag

 

REUTERS

[I]  RBI makes unconventional rate cut in bid to spur growth

[I]  Indian auto executives seek tax cuts, easier finance access to revive sales: sources

[I]  New Zealand could cut rates again, won't rule out negative rates - central bank assistant governor

[I]  Yen stands tall on global growth fears, central bank easing weighs on peers

[I]  India to relax rules for entry into fuel retail sector: source

[I]  Column: Global economy is probably in recession

[I]  Trump Takes Grievances On Road in Visits to Shooting Survivors

[I]  WhatsApp Flaws Could Allow Hackers to Alter Messages: Cyber Firm

[I]  Short Bonds Shine in India as RBI Damps Hope of Excessive Easing

[I]  McConnell Campaign Twitter Account Locked for Posting Protester Threats

 

BLOOMBERG 

[I]  Philippine Economic Growth Unexpectedly Slows to 5.5%

[I]  Short Bonds Shine in India as RBI Damps Hope of Excessive Easing

[I]  Rock-Star Economies Flop, World Recession Fears Rise: Eco Day

[I]  Sellers of U.K. Luxury Homes Forced to Bargain Amid Brexit Woes

[I]  The Furious Global Bond Market Rally Shows Few Signs of Abating

[I]  RBA Says Australia's Big Retailers Can Cope With a Weaker Economy

[I]  Japanese Consumers Help Prop Up Economy During Export Slump

 

WALL STREET JOURNAL

[I]  Fed’s Evans Says Trade Headwinds Could Justify Additional Rate Cuts

[I]  Inflated Bond Ratings Helped Spur the Financial Crisis. They’re Back.

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

[I]  More Workers Would Qualify for Overtime Pay Under State Proposals

[I]  Behind Yuan Move, China Concedes Its Economy Needs a Boost

[I]  Trio of Central Banks Surprise Markets With Aggressive Rate Cuts

[I]  Real Time Economics: U.S. and China Dig In, Central Banks Slash Rates

 

BUSINESS LINE

[I]  Taking a ‘balanced call’, RBI trims rate by 35 bps

[I]  Auto industry to FM: Bring down GST, raise depreciation rate

[I]  Oilmeal exports drop 23% in July lead by sharp fall in soybean meal consignments

[I]  Loans to agri sector see sharp rise in NPAs

[I]  Oil sets new seven-month low on trade tensions

 

ECONOMIC TIMES

[I]  Recession is coming, courtesy trade war

[I]  Coming soon: The great sarkari sale

[I]  How central bank's rate cut will affect you

[I]  3.5 lakh jobs gone: Auto slump hits where it hurts

[I]  RBI cuts risk weight on consumer credit to 100%, credit cards

[I]  Monsoon rains above-average for 2nd straight week: IMD

[I]  RBI will have to do more heavy-lifting for economy to even clip at 6.9%: Analysts

[I]  RBI Governor explains why MPC went for an 'unprecedented' 35 bps rate cut

[I]  Rs 11 lakh crore tax arrears difficult to recover: CAG

 

BUSINESS STANDARD

[I]  NBFCs to receive more liquidity support as RBI raises exposure limit

[I]  Govt looks at eliminating FDI security gaps through scrutiny measures

[I]  Repo rate at nine-year low after RBI announces first-ever cut of 35 bps

[I]  24x7 fund transfers under NEFT from Dec 2019 to boost digital payments

[I]  Consumers turn gloomy about economic situation, employment: RBI survey

[I]  In policy making, you have to take a call beyond numbers: Shakitkanta Das

[I]  Economic slowdown impact: Over 20 IPOs stare at SEBI approval lapses

[I]  World closer to first recession in a decade as trade war fears spread

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 10859;  USDINR DGCX: 71.1950;  DJIA Mini: 25963;  FTSE 100 Fut: 7168;  NIKKEI 225 Fut: 20520;  EUR-USD: 1.1210; Crude Oil (WTI): 52.59;  Gold (Spot): 1500

 

Best Regards, ARBIND

08 Aug 2019