MACRO ECONOMIC NEWS

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Macro Economic News 03 Oct 2019

                                                                                                                                                           

 

India shows remarkable resilience amid global slowdown: WEF President. India, the world’s biggest seller of the Asian diet staple, has banned exports after extended Monsoon downpours delayed harvests and supplies shrivelled. India shadow banking crisis may return to haunt stock market. The global manufacturing slowdown worsened in September, and trade flows are set to grow this year at the weakest pace since the financial crisis, as tariffs rise and economic growth cools. The U.S. economy, in the past, was often strong enough to lead the rest of the world into growth or a slowdown. This year, however, forces weighing on external economies have begun to wash back on the U.S.  For the first time in a long time, U.S. factories look like they are doing even worse than Chinese ones. The United States said it would enact 10% tariffs on European-made Airbus planes and 25% duties on French wine, Scotch and Irish whiskies and cheese from across the continent as punishment for illegal EU aircraft subsidies. Chinese venture capital investment in US hits four-year low. Mexico plans infrastructure blitz worth billions to shore up economy.

 

FINANCIAL TIMES

[I]  US hits EU goods with new tariffs after WTO ruling

[I]  US hits EU goods with new tariffs after WTO ruling

[I]  German economists urge Berlin to ditch balanced budget rule

[I]  Poland defies Brussels by vowing to stick to coal

[I]  Johnson sends in contentious plan to break Brexit deadlock

[I]  Ecuador ends fuel subsidies as part of $4.2bn IMF plan

[I]  France seeks crackdown on short sellers and activist investors

[I]  Chinese venture capital investment in US hits four-year low

 

REUTERS

[I]  Why Asia has eye-watering onion prices

[I]  India's PM Modi exhorts nation to end usage of single-use plastic by 2022

[I]  U.S. widens trade war with tariffs on Airbus planes, French cheese, Scotch whisky

[I]  PM Johnson makes final Brexit offer, draws guarded welcome from EU

[I]  RBI set to cut rates again as fiscal measures fail to cheer

[I]  U.S. private payrolls growth cools in September - ADP

[I]  Mexico plans infrastructure blitz worth billions to shore up economy

 

BLOOMBERG 

[I]  India Shadow Banking Crisis May Return to Haunt Stock Market

[I]  Slumping Data May Force Powell to Move to Third Cut

[I]  Asian Bond Buyers Are Getting Hungrier, If Not More Adventurous

[I]  Zimbabwe to Introduce First Zimbabwe Dollar Notes in November

[I]  Why It’s So Hard for Startups to Create Wealth in Europe

[I]  India’s Banking Woes Add to RBI Worries as It Moves to Cut Rates

[I]  Canada’s Most Expensive Housing Market Is Stabilizing After a Slump

[I]  Repo Watchers Worry More Trouble Brewing in Fourth Quarter

[I]  Canadian Bankers Want to Include Oil in Push for Sustainable Finance

 

WALL STREET JOURNAL

[I]  For a Change, It’s the World That Is Pulling Down the U.S. Economy

[I]  U.S. to Impose Tariffs on EU Goods After WTO’s Airbus Ruling

[I]  U.S. Private Sector Added 135,000 Jobs In September

[I]  U.S.-China Factory Breakup Is Hard to Do

[I]  Slowing Trade Hits Global Manufacturing

[I]  Manufacturing Struggles Matter More Than You Think

 

BUSINESS LINE

[I]  Steel industry fret as Govt inches close to signing RCEP

[I]  LPG and ATF price hiked

[I]  Festival bonanza: It’s raining deals as companies go all out to woo buyers

[I]  India shows remarkable resilience amid global slowdown: WEF President

[I]  India banned onion exports; now, Asia has eye-watering prices

[I]  No MAT credit for firms opting for lower tax: FinMin

 

ECONOMIC TIMES

[I]  India Inc had its cheer. Now it's time for a jeer on corporate tax cut

[I]  EV makers are in a rush to fix their battery problem

[I]  Falling car sales may finally take a right turn

[I]  Oil market ignoring geopolitical risks; trade talks next big trigger

[I]  Ecuador to quit Opec in 2020 in search of bigger export revenue

[I]  Dollar back near two-year high; Aussie hits decade low

[I]  BOJ to stick to playbook in fighting excessive yield falls

[I]  Corporate tax cuts alone will not stimulate private capex: Ind-Ra

 

BUSINESS STANDARD

[I]  Stock prices of nearly half of the BSE500 firms back to pre-tax cut levels

[I]  Govt policy on e-commerce industry may miss year-end deadline: Sources

[I]  Infra companies consider monetising litigation claims for offshore assets

[I]  Homebuyers may have to shell out more for parking space, other services

[I]  Indians prefer video, vernacular and mobile-only internet content

 

MARKETS (07:00 am)

[I]  SGX NIFTY Fut: 11338;  USDINR DGCX: 71.3575;  DJIA Mini: 26038;  FTSE 100 Fut: 7069;  NIKKEI 225 Fut: 21340;  EUR-USD: 1.0960; Crude Oil (WTI): 52.80;  Gold (Spot): 1501

 

Best Regards, ARBIND
03 Oct 2019