MACRO ECONOMIC NEWS

MAY WE ALL RECEIVE LOVE, JOY, PEACE, BLESSINGS, FORGIVENESS AND ETERNAL LIFE THIS SPECIAL DAY. WISHING A DEVOTIONAL DAY AHEAD.

Macro Economic News 06 Sep 2019

 

China and the United States agreed to hold high-level talks in early October in Washington. The European Union is increasingly worried about British Prime Minister Boris Johnson's stance on the Irish border and future competition rules, sources said. President Vladimir Putin said that Russia would produce missiles that were banned under a landmark Cold-War era nuclear pact that ended last month, but that Moscow would not deploy them unless the United States did so first. The Reserve Bank of India's move to compel lenders to link all new floating rate retail loans to external benchmarks is unlikely to achieve the intended goal of reducing interest rates sharply for consumers anytime soon, bankers and analysts said.

 

FINANCIAL TIMES

[I]  Investment banking revenues plunge to 13-year low

[I]  Merkel visits China as Hong Kong unrest grows

[I]  Indians tighten their belts as economic gloom deepens

[I]  ECB set to consider damage done by negative rates

[I]  China local governments sound alarm on debt obligations

[I]  US and China agree to restart trade talks next month

 

REUTERS

[I]  'Here and now': India's auto industry urges government action to fight slowdown

[I]  Merkel hopes China-U.S. trade problems will be over soon

[I]  In China, P2P insiders say regulatory shortcomings have choked industry

[I]  U.S jobs data supports dollar as fragile risk-on mood holds

[I]  Trade uncertainty to trim $850 billion global output: Fed paper

[I]   Britain abandons plan to immediately end freedom of movement after Brexit

[I]  U.S., China agree to resume trade talks, markets jump

[I]  Indian banks unlikely to sharply trim lending rates despite new norms

[I]  No place like home: Chinese firms stung by trade war build up domestic brands

 

BLOOMBERG 

[I]  Haven Rout Sends Wall of Money Rushing Into Emerging Markets

[I]  Venezuela’s Oil Woes Deepen as Chinese Contractor Halts Work

[I]  Asia's Beaches Go Quiet as Chinese Tourists Stay Home

[I]  Trump Fannie-Freddie Plan Urges Ending Decade of U.S. Rule

[I]  High-Quality Companies Are Selling Bonds at Fastest Pace Ever

[I]  With 49 Deals in 30 Hours, U.S. Corporate Bond Market Ignites

[I]  Bank of Canada Remains Defiant, Still Doesn’t See Case for Cut

 

WALL STREET JOURNAL

[I]  Fed Lines Up Another Quarter-Point Rate Cut

[I]  Trump Administration Aims to Privatize Fannie Mae and Freddie Mac

[I]  Trade Uncertainty Likely to Cut U.S. Growth by More Than 1%, Fed Says

[I]  U.S. Service-Sector Activity Picked Up in August

[I]  Private Sector Adds 195,000 Jobs, Beating Economists’ Estimates

[I]  Watch Friday’s Jobs Report for Signs of a Deepening Slowdown

[I]  The Most Promising Careers of the Next Decade

[I]  U.S. Unit Labor Costs Revised Higher in Second Quarter

 

BUSINESS LINE

[I]  FDI up 28 per cent in April-June 2019

[I]  Commerce Minister to meet exporters on September 11 to discuss measures to push shipments

[I]  Solar installations in first half of 2019 at 3.2 GW, down 35 per cent

[I]  Monsoon strengthens further over the West Coast, Central India

[I]  IMD planning weather forecast at village level

 

ECONOMIC TIMES

[I]  India to participate in multi-national war games

[I]  US jobs data supports dollar as fragile risk-on mood holds

[I]  Trade talk plans cheer risk currencies, hit safe-haven yen

[I]  Most Indians feel economy rigged to favour powerful: Survey

[I]  Trade-war damage piles weight of global economy on consumers

[I]  NHAI to raise over Rs 85k crore via asset recycling: Nitin Gadkari

[I]  Finance ministry to meet heads of CPSEs for capital expenditure push

[I]  India’s reliance on Central Bank cash puts budget funding at risk

 

BUSINESS STANDARD

[I]  Single authority mechanism for processing GST refunds to exporters soon

[I]  Finance ministry asks departments, PSUs to expedite capital expenditure

[I]  RBI deputy governor B P Kanungo sees risk of bond supply dwindling

[I]  Discoms may be asked to pay 50% advance payments to power companies

[I]  Govt launches updated Credit linked Capital Subsidy Scheme for MSMEs

[I]  GST hurting workers, companies interested in skill training: Experts

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 10905;  USDINR DGCX: 72.1250;  DJIA Mini: 26688;  FTSE 100 Fut: 7268;  NIKKEI 225 Fut: 21220;  EUR-USD: 1.1034; Crude Oil (WTI): 56.45;  Gold (Spot): 1514

 

Best Regards, ARBIND
06 Sep 2019