MACRO ECONOMIC NEWS

MAY WE ALL CELEBRATE EACH DAY AND BRING SMILE TO EVERYONE AROUND US. WISHING A JOYOUS WEEK AHEAD.

Macro Economic News 28 Oct 2019

 

World Bank continues with $ 6 bn annual lending support to India while World Bank Chief advises India to work more on contract enforcement, land digitalisation. The fate of American factories is often viewed as a bellwether for the overall economy, though that link may be weaker now that manufacturing firms make up a smaller share of the economy and labour market. Fed is expected to cut rates again. Profits at China's industrial firms declined 5.3% in September from a year earlier. Two of Britain's smaller political parties have joined forces to try to trigger a December 9 election and have written to Donald Tusk, the president of the European Council, to ask for a delay to Brexit to hold it. EU proposes Brexit extension to Jan. 31 ahead of envoy talks. Germany’s annual EU budget bill set to double to €33bn. Spain’s economy chief Calvino says no economic crisis in sight.

 

FINANCIAL TIMES

[I]  Germany’s annual EU budget bill set to double to €33bn

[I]  Fed faces thorny decision whether to signal pause to rate cuts

[I]  Brussels close to agreeing Brexit extension until January

[I]  Brazil Congress to push on with tax reform

[I]  US private equity bids for UK companies switch to dollars

[I]  Europe needs to solve its collective action problem

 

REUTERS

[I]  Dollar supported before Fed meeting, Brexit delay in focus

[I]  Lawmakers call for action on banks, Big Tech to avoid IT failures

[I]  Australian financial regulator imposes additional conditions on IOOF unit

[I]  What slowdown? China's riding to the rescue of luxury brands

[I]  Two UK political parties to try to trigger December 9 election

[I]  China's industrial profits fall 5.3% in September

[I]  China studying blockchain application for forex -regulator

[I]  U.S., China say they are 'close to finalising' part of a Phase One trade deal

 

BLOOMBERG 

[I]  Argentina Investors Look Ahead After Fernandez Pulls Out Win

[I]  Time to Get Picky in Emerging Markets in Grip of Political Risks

[I]  Fed to Cut Rates Again, But What Comes After That?: Economy Week

[I]  Volatility-Starved Yen Traders Feel Chills as Winter Comes Early

[I]  The World's Most Expensive Bank Limits Staff Water to Cut Costs

[I]  EU Proposes Brexit Extension to Jan. 31 Ahead of Envoy Talks

[I]  Vietnam Hits Chinese and South Korea Steelmakers With Duties

[I]  Negative Yields to Punish Insurer Profits, Ex-BOJ Official Says

[I]  Germany Budget Surplus to Reach Billions in 2019: Handelsblatt

[I]  Fed, Consumers Turn a Deaf Ear to Wall Street’s Recession Siren

[I]  Retail Investors Are Getting Blamed for Slump: Cannabis Weekly

[I]  Spain’s Economy Chief Calvino Says No Economic Crisis In Sight

 

WALL STREET JOURNAL

[I]  U.S. Factory Slump Shows Manufacturing Isn’t the Bellwether It Used to Be

[I]  Economy Week Ahead: Economic Growth, Fed Statement, Jobs Report

[I]  U.S. Deficit Hits Seven-Year High

[I]  Trump Moves Closer to Ending Another Post-Cold War Treaty

 

BUSINESS LINE

[I]  FPIs invested over Rs 3,800 crore into Indian markets in October

[I]  World Bank Chief advises India to work more on contract enforcement, land digitalisation

[I]  World Bank to continue with $ 6 bn annual lending support to India

[I]  Farmers’nation-wide protests against RCEP go unnoticed

[I]  Cyclone Kyarr whips up the Arabian Sea waters, starts on a strengthening cycle

 

ECONOMIC TIMES

[I]  Shifting demographics could be taking shine off gold in India

[I]  Why it's high time India faced up to its flaws

[I]  Why high taxes won’t create egalitarian utopia

[I]  The slowdown theory isn't true everywhere

[I]  Samvat 2076: Stellar show by D-St debutants may liven up IPOs mart

[I]  Land-price skew puts brakes on National Highway projects

 

BUSINESS STANDARD

[I]  Govt plans to make commonly used drugs available at local retail outlets

[I]  Start-ups providing income-share agreements catching students' fancy

[I]  Govt plans to privatise 6 more airports, invest revenue in remote areas

[I]  India remains vulnerable to credit and debit card frauds despite measures

[I]  Online test for independent directors may be counterproductive, say experts

[I]  Centre to tweak competition law and tune it with new-age digital economy

[I]  US, India learn from co-development fiasco, approach DTTI differently

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 11638;  USDINR DGCX: 70.8425;  DJIA Mini: 26954;  FTSE 100 Fut: 7298;  NIKKEI 225 Fut: 22840;  EUR-USD: 1.1079; Crude Oil (WTI): 56.60;  Gold (Spot): 1505

 

Best Regards, ARBIND
28 Oct 2019