MACRO ECONOMIC NEWS

‘BEING WITH’ IS ALL ABOUT ‘BEING ONE WITH’; A DANCE WITH LIFE. WISHING A MARVELLOUS TUESDAY AHEAD.

Macro Economic News 22 Oct 2019

 

India contributes 7% to global wealth rise, says Credit Suisse report; India's household wealth more than doubles to $12.6 trn in 2019. RBI steps in to raise deposit insurance cover for customers from Rs 100,000. Analysts Are Taking a Knife to Their 2020 Profit Estimates. The British government insisted the country will leave the European Union on Oct. 31 despite a letter that Prime Minister Boris Johnson was forced by parliament to send to the bloc requesting a Brexit delay. In the week ahead, data on U.S. durable-goods orders, along with Eurozone figures on activity at factories and service providers, will be watched for signs of a further slowdown in manufacturing. Christine Lagarde said that the U.S. risks diminishing its role as a global leader and warned of dire consequences from its trade war with China. Sen. Elizabeth Warren is calling for $800 billion in additional federal funding for public education, a move that would exhaust the remaining revenue to be raised by her proposed wealth tax. China unexpectedly keeps LPR lending benchmark unchanged, but outlook for rates down.

 

FINANCIAL TIMES

[I]  Inequality in ‘stable’ Chile ignites the fires of unrest

[I]  Argentine bondholders braced for steep losses

[I]  Lebanon agrees reforms after days of protests

[I]  Johnson hopes for Brexit breakthrough on Tuesday

[I]  Draghi’s ECB tenure: Saving the euro, faltering on inflation

[I]  Wind power industry warns of global trade war threat

[I]  US companies battle for control of 5G spectrum

 

REUTERS

[I]  China, U.S. made progress in trade talks - Chinese vice foreign minister

[I]  Asia tries to see light in trade talks, Brexit votes

[I]  Brexit will happen on Oct. 31 despite PM's unsigned delay request, UK says

[I]  North Korea says U.S., South Korea must present new solutions for conflict

[I]  Trump praises U.S.-China trade talks as Beijing seeks billions in WTO case against U.S.

[I]  Graphic: A quiet exit for Draghi? Five questions for the ECB

[I]  China unexpectedly keeps LPR lending benchmark unchanged, but outlook for rates down

 

BLOOMBERG 

[I]  How Exploding Private Sector Balance Sheets Have Changed Recessions As We Know Them

[I]  China Injects $35 Billion Into Banking System Amid Tax Payments

[I]  Rio to Produce Lithium in California, Joining Electric Car Battery Race

[I]  World’s Priciest Oil Auction May Raise $50 Billion in Brazil

[I]  Analysts Are Taking a Knife to Their 2020 Profit Estimates

[I]  Lagarde or Not, Women Still Face Discrimination in Economics

 

WALL STREET JOURNAL

[I]  Germany’s Labor System Would Be Difficult to Import to U.S.

[I]  Economy Week Ahead: U.S. Existing-Home Sales and Durable Goods, Eurozone Flash PMIs

[I]  Lagarde Says U.S. Is at Risk of Losing Global Leader Role

[I]  Warren Would Use Wealth Tax to Fund $800 Billion Education Plan

[I]  Officials View Trade Uncertainty as Biggest Global Economic Risk

[I]  Fed Eyes Another Rate Cut, Weighs When to Stop

[I]  Newsletter: Uncertainty, Upheaval and the Economy

 

BUSINESS LINE

[I]  Hotels, travel aggregators start refunding GST

[I]  Have increased ethanol blending to 6 per cent today from 1 per cent in 2015: Pradhan

[I]  India, US likely to announce bilateral trade package soon: Piyush Goyal

[I]  Slowdown is affecting SMEs in Karnataka: KASSIA

[I]  Depression watch in Arabian Sea; 'low' forecast in Bay of Bengal

[I]  Centre may revamp flagship insurance schemes

[I]  Centre may retain export scheme MEIS till March 2020

 

ECONOMIC TIMES

[I]  How to beat economic blues? Just automate the rescue plan

[I]  Household wealth more than doubles to $12.6 tn in 2019: Credit Suisse

[I]  Indian edible oil industry has issued advisory to avoid import of palm oil from Malaysia

[I]  New foreign trade policy may have simpler export promotion schemes

[I]  India's Trilemma: Balancing energy security, access & sustainability

[I]  India plans to regulate social media as it can cause disruption

[I]  Government looks to ease more FDI rules to attract investments

[I]  EPFO members may get option to draw pension after 60

 

BUSINESS STANDARD

[I]  Television viewing survives the onslaught of OTT, digital content services

[I]  RBI steps in to raise deposit insurance cover for customers from Rs 100,000

[I]  EV battery prices fall sharply, but local manufacturing yet to take off

[I]  India contributes 7% to global wealth rise, says Credit Suisse report

[I]  Govt likely to extend benefits to exporters under MEIS till March 31

[I]  India's household wealth more than doubles to $12.6 trn in 2019: Report

[I]  Direct sale of loans by NBFCs and HFCs takes a knock in H1, says Icra

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 11640;  USDINR DGCX: 71.2050;  DJIA Mini: 26827;  FTSE 100 Fut: 7145;  NIKKEI 225 Fut: 22680;  EUR-USD: 1.1150; Crude Oil (WTI): 53.37;  Gold (Spot): 1484

 

Best Regards, ARBIND
22 Oct 2019