MACRO ECONOMIC NEWS

MAKE THE DAYS COUNT FOR YOU; BEHOLD, ITS A SPECIAL DAY. WISHING A ‘FUNTASTIC’ FRIDAY.

Macro Economic News 18 Oct 2019

 

India ranked third in 2019 Hurun Global Unicorn List; China pips US to top ranking. Currency in circulation jumps by Rs 19,699 crore, total kitty hits Rs 22 lakh crore. India is likely to miss its fiscal deficit target of 3.3% of gross domestic product for the current financial year by 30-50 basis points due to the sharp slowdown in the economy that has severely crimped tax collection goals. World Bank President David Malpass said that clarity over Britain's exit from the European Union would strengthen the outlook for global growth, aiding both rich nations and the developing world. U.S. manufacturing production fell in September, adding to evidence that slowing global growth and trade frictions are weighing on the economy. SEC opens debate on finding alternatives to IPOs. Germany’s thirst for workers shows paradox in its slowdown. Japan's inflation hits 2-1/2-year low, raises stimulus chance this month. Philippines Sees Around 6% Growth in 2019 on Fiscal Stimulus.

 

FINANCIAL TIMES

[I]  Johnson Brexit gambit hangs in balance 

[I]  Venezuela elected to UN rights body despite record

[I]  Merkel demands Germany retain EU budget rebate

[I]  Germany’s thirst for workers shows paradox in its slowdown

[I]  Iran in ‘severe distress’ from US sanctions, says IMF

[I]  Russia reaps windfalls of Trump’s chaos

[I]  SEC opens debate on finding alternatives to IPOs

 

REUTERS

[I]  India to miss fiscal deficit target by 30-50 bps - sources

[I]  Johnson agrees Brexit deal, but must now win over parliament

[I]  Japan's inflation hits 2-1/2-year low, raises stimulus chance this month

[I]  Sterling holds gains near 5-month top on Brexit deal, but hurdles remain

[I]  Turkey agrees with U.S. to pause Syria assault while Kurds withdraw

[I]  Trump defends Middle East policy, says Islamic State is under control

[I]  IMF, World Bank see Brexit deal boosting global growth outlook

[I]  U.S. homebuilding retreats, manufacturing still struggling

[I]  IMF says Japan can ramp up fiscal stimulus if tax hike sinks growth

 

BLOOMBERG 

[I]  China Convertible Bond Market Shows Signs of Roaring to Life

[I]  Brazil Expected to Oust Vietnam as World's Top Robusta Coffee Grower

[I]  Japan Rides Global REIT Rally, Driving Index to 12-Year High

[I]  Negative Rates in Australia Extraordinarily Unlikely, Lowe Says

[I]  Philippines Sees Around 6% Growth in 2019 on Fiscal Stimulus

[I]  Record Inflows to Brazil Equity Funds Defy Fleeing Foreigners

 

WALL STREET JOURNAL

[I]  Manufacturing Sputters as Broader U.S. Economy Slows

[I]  Fed’s Williams Touts Interventions for Stabilizing Short-Term Markets

[I]  Questions Cloud China’s Commitment to Farm Purchases

[I]  Exchange Rates Deal $22.56 Billion Blow to Companies’ Earnings

[I]  Long-Term Inflation Expectations Hit Record Low: N.Y. Fed

 

BUSINESS LINE

[I]  High-voltage relief: Select States may get PFC loan to clear dues to power firms

[I]  India will soon become a gas trading hub, says Pradhan

[I]  FMCG performance in rural India worst in 7 years: Nielsen

[I]  Low over Arabian Sea could spur activity in N-E monsoon

[I]  India ranked third in 2019 Hurun Global Unicorn List; China pips US to top ranking

 

ECONOMIC TIMES

[I]  Inside India's plan to be a solar powerhouse

[I]  New MNP regime: All you need to know

[I]  Microlenders focuses on growing loan book size: Report

[I]  Currency in circulation jumps by Rs 19,699 crore, total kitty hits Rs 22 lakh crore

[I]  Niti Innovation Index: Karnataka, Tamil Nadu, Maharashtra ranked top three states in innovation

[I]  New industrial policy not to replicate state models

[I]  Regulator, auditor should be held responsible for frauds in banks: Anurag Thakur

 

BUSINESS STANDARD

[I]  Brexit deal spells good news for India Inc with large investments in UK

[I]  Brexit showdown in Commons on Saturday as UK, EU get nearer to divorce

[I]  Govt likely to remove controversial bail-in provision from FRDI Bill

[I]  I-T dept may sell two dozen properties in FY20 over huge maintenance costs

[I]  Jewellers hope to sail through festive season on discounts, demand revival

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 11579;  USDINR DGCX: 71.2100;  DJIA Mini: 26999;  FTSE 100 Fut: 7163;  NIKKEI 225 Fut: 22540;  EUR-USD: 1.1124; Crude Oil (WTI): 53.91;  Gold (Spot): 1491

 

Best Regards, ARBIND
18 Oct 2019