MACRO ECONOMIC NEWS

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Macro Economic News 11 Sep 2019

 

The possibility of a slowdown “has gone up” around the world but the world’s major central banks still have the capability of responding, Bank of England Governor Mark Carney said. European Central Bank President Mario Draghi’s plans for a final burst of monetary stimulus before his term ends is running into opposition, raising the prospect he will have to temper or hold off on launching a bond-buying program. The median U.S. household income remained essentially flat at $63,179 in 2018 after three straight years of growth. The number of job openings decreased in July from a year earlier for the second consecutive month, underscoring slowing demand for new workers, though opportunities remain plentiful for job seekers in the US. China’s consumer inflation rate kept up an accelerated pace in August as the price of pork, a mainstay of the Chinese diet, rose at its fastest clip in eight years. India, ASEAN agree to review goods FTA pact, make it simpler.

 

FINANCIAL TIMES

[I]  China scraps purchasing cap for approved foreign investors

[I]  Brussels braced for EU trade and tech battles with US

[I]  Netanyahu vows to extend Israeli sovereignty in West Bank

[I]  US colleges look to insure against impact of trade war

[I]  Germany vows to loosen purse strings in economic crisis

[I]  Johnson intensifies efforts to find new Brexit deal

 

REUTERS

[I]  Bond yields, stock prices supported ahead of central bank meetings

[I]  South Korea to lodge WTO complaint over Japan's export curbs on Weds

[I]  Japan's Abe to draft rising star Koizumi in broad cabinet reshuffle - media

[I]  Hong Kong protesters boo Chinese anthem, as leader warns against interference

[I]  India and Nepal open South Asia’s first cross-border oil pipeline

[I]  Germany can pump 'many, many billions' into economy: Scholz

[I]  Declining U.S. vacancies point to slowing job growth

 

BLOOMBERG 

[I]  Investors Scouring the World for Yield Turn to South Korea

[I]  Even Bears Are Backing One Group of Australian Retailers

[I]  Forget Germany, the Real Fiscal Policy Tightwads Are in Sweden

[I]  Some Investors Actually Make Money on Negative-Yielding Debt

[I]  IMF Urges German Government Spending to Revive Flagging Economy

[I]  Zimbabwe Establishes Monetary Policy Committee in Stability Bid

[I]  Japan Tries to Learn Lessons From Its 2014 Sales Tax Blow

 

WALL STREET JOURNAL

[I]  Median U.S. Household Income Showed No Growth in 2018

[I]  U.S. Job Openings Cool in Slowing Labor Market

[I]  Treasury Secretary Details Plans for Fannie, Freddie

[I]  Opposition Mounts to Draghi’s Plans for a Last ECB Stimulus Package

[I]  BOE’s Carney: Central Banks Have Weapons to Fight Next Downturn

[I]  Chinese Consumer Prices Fattened by Precious Pork

[I]  China’s Trade Numbers Send More Distress Signals

 

BUSINESS LINE

[I]  Task force ‘to speed up spending on infrastructure’

[I]  Independent Financial Advisors blame MFs for the mess in debt schemes: Survey

[I]  Coal mine auction: Bidders flag distance of new blocks from consuming centres

[I]  India, ASEAN agree to review goods FTA pact, make it simpler

[I]  Highway development economically viable: Nitin Gadkari

[I]  NHAI board clears land monetization policy to part-fund land acquisition costs

 

ECONOMIC TIMES

[I]  Eyes on trade, India and US are all set to bury the hatchet

[I]  For auto slump, FM blames millennials

[I]  Govt wants a regulator for private-run trains

[I]  India may be running low on ways to spur growth

[I]  Dollar drifts down as trade-deal progress stokes cautious risk appetite

[I]  Centre to pump in Rs 8,000 crore in J&K to boost income of farmers and traders

[I]  India-China spat delays deal covering a third of global trade

[I]  Task Force in process to identify infra projects: Sitharaman

 

BUSINESS STANDARD

[I]  Corporate bond issuances on the upswing, reach Rs 5.45 trillion till August

[I]  Govt's big plan to push EVs: Rs 40,000-crore subsidies in the works

[I]  With 10% salary hike, a good year for employees of listed companies

[I]  Start-ups in Delhi-NCR command highest private market valuation

[I]  2% of Indians loyal to brands; discounts don't keep them hooked: Experts

[I]  Economists paint a grim picture, lower India's FY20 GDP growth forecast

[I]  Indian farmers, small businesses will soon travel to woo investors in US

 

MARKETS (08:00 am)

[I]  SGX NIFTY Fut: 11023;  USDINR DGCX: 72.0575;  DJIA Mini: 26879;  FTSE 100 Fut: 7286;  NIKKEI 225 Fut: 21519;  EUR-USD: 1.1051; Crude Oil (WTI): 57.79;  Gold (Spot): 1491

 

Best Regards, ARBIND

11 Sep 2019